SFCCA President and Business China Chairman Mr Chua Thian Poh
Distinguished guests
Ladies and gentlemen
I want to first wish everyone a Happy and Prosperous Lunar New Year. We started off last year – the Year of the Tiger – on a cautiously optimistic note. But through resilience and hard work, our economy rebounded strongly in 2010, growing a remarkable 14.7%. We are thus well-positioned to seize new opportunities as we usher in the Year of the Rabbit.
The Lunar New Year is traditionally the most important festival for the Chinese. In Singapore’s multi-racial and multi-cultural context, it is also an occasion celebrated by all races. Relatives and friends visit one another, children receive “hong baos”, and both young and old savour the many varieties of New Year goodies. I thank you for inviting me to join in this reunion and celebration with the big families of SFCCA and Business China.
SFCCA is a non-governmental apex organisation for Chinese clan associations that seeks to promote the Chinese language, culture and traditions. Over the past century, it has established strong geographical and kinship ties with China. Given its rich history and extensive network, the SFCCA is well-placed to help connect the younger generation and those who are keen to pursue business opportunities with suitable partners in China.
Business China was established in 2007 to nurture an inclusive bilingual and bicultural group of Singaporeans. It seeks to act as a bridge linking Singapore, other countries and China, by leveraging on its programmes, networks and channels to help young Singaporeans understand, appreciate, and venture into China. There is therefore much scope for both organizations to work closely together.
Today’s reception is a good testimony of such collaboration. As we usher in the Lunar New Year, both organisations are also welcoming a new phase of cooperation. There is a traditional Chinese saying that “The entire year’s work depends on a good start in Spring” (“Yi Nian Zhi Ji Zai Yu Chun”). I hope that this Spring reception will serve as a good start to a fruitful year of cooperation between the SFCCA and Business China as they further strengthen the economic, cultural and friendship ties between Singapore and China.
In a recent report, the World Bank noted that East Asia and Pacific economies led the global recovery in 2010 with GDP growth estimated at 9.3%. This was on the back of an estimated 10% increase in Chinese GDP and a 35% increase in its imports. Although growth is projected to slow in 2011, the region is still expected to post strong GDP growth of 8%.
We have strengthened our position in doing business with China through initiatives such as the ASEAN-China FTA. Last year, ASEAN’s exports to China rose 44.8% to US$154 billion. It is expected to rise further this year. China’s growth will present opportunities for business and other forms of collaboration. Many of you are pioneers and leaders of our external economic wing. I hope that you will help guide the younger members as well as new-comers as they venture into China. As their businesses mature and succeed, you too will reap benefits, both in terms of economic gains and friendship.
The Rabbit symbolizes exuberance and agility in traditional Chinese culture, exhibiting ambition that is tempered with compassion. Having been born in the Year of the Rabbit myself, I am confident that this year will see an exuberant and agile Singapore, striving ahead to build a better and more compassionate society. On this note, I wish you prosperity, health, and happiness in the New Year.
Thank you!