[The following speech was originally delivered in Chinese. The English version below is a translation.]
Deputy Prime Minister Gan Kim Yong,
Ministers, Senior Ministers of State, Ministers of State,
Senior Parliamentary Secretaries, Members of Parliament,
Mr Kho Choon Keng, President of the Singapore Chinese Chamber of Commerce & Industry,
Your Excellencies, Distinguished Guests,
1. A very happy Lunar New Year to everyone! May the galloping stallions usher in a prosperous new year! On behalf of Business China, I would like to extend a warm welcome to all of you to this Spring Reception! May the new year bring joy and happiness to you and your families.
2. This year marks the 120th anniversary of the Singapore Chinese Chamber of Commerce & Industry (SCCCI) – a proud and illustrious history. Generations of SCCCI leaders have worked tirelessly and taken on responsibilities with courage, placing service above self and serving society wholeheartedly, establishing schools, building hospitals, fostering inclusiveness and unity. SCCCI has served as a steadfast pillar of the community, and made invaluable contributions to Singapore’s nation-building and development.
3. In 2007, 19 years ago, at the initiative of our then-Minister Mentor Mr Lee Kuan Yew, SCCCI took the lead in establishing Business China with the aim of building a platform that promotes both the learning of the Chinese language, and nurturing more bilingual and bicultural local talents to contribute to Singapore-China economic cooperation.
4. SCCCI and Business China share many common goals and have worked closely together over the years. I join everyone here in wishing SCCCI continued success and prosperity. May SCCCI continue to lead the Chinese business community, foster unity across all races, and make outstanding contributions towards the development of our society and nation.
5. Over the past year, despite global turbulence and heightened geopolitical tensions, we are encouraged that Singapore’s economy still grew by 5%. Looking ahead, the broader environment remains highly uncertain in 2026. As global trade, investment flows, and value chains undergo rapid restructuring, we must stay vigilant, remain calm in the face of crisis, and face the challenges ahead with courage.
6. Last week, Prime Minister Mr Lawrence Wong announced in the Budget statement that the Government will strengthen support for all businesses, especially SMEs, by introducing a range of measures to drive industry transformation and skills upgrading, including the wider adoption of AI, quantum technologies, and advanced manufacturing solutions. The Ministry of Trade and Industry’s budget expenditure increased by approximately 70% this year – the largest increase among all ministries – reflecting the priority placed on enhancing our core competitiveness through improving financing environment, upscaling technology and AI adoption, strengthening enterprises’ capabilities in internationalisation and workforce training.
7. Since our founding, Business China has remained dedicated to organising a wide range of forums, sharing sessions, dialogues, facilitating the Youth Interns Exchange Scheme (YES) and business study trips that integrate theoretical insights with practical exposure. Our goal is to deepen participants’ understanding of China’s economic policies, technology applications, “dual circulation” strategy and evolving external economic trends.
8. Going forward, we will continue to initiate programmes that connect local enterprises to global developments, reinforcing Singapore’s strategic role as a regional hub and enhancing our international influence.
9. The work of Business China has been made possible through the strong support and recognition from friends and partners across all sectors. It is through your trust and participation that we are able to grow from strength to strength. I would like to express my heartfelt appreciation to Deputy Prime Minister, Ministers, officials, stakeholders and all who have supported Business China!
10. The Year of the Horse symbolises progress and development. In the new year, let us continue to uphold the spirit of pragmatism, unity, and innovation. Together, we will seize the opportunities, rise to the challenges, and forge a more prosperous and vibrant future! May Singapore enjoy peace and prosperity. Wishing everyone happiness and a blessed Year of the Horse.