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Guangdong to draw on Singapore experience in development

(Xinhua)

08:34, June 06, 2012

SINGAPORE, June 5 (Xinhua) -- China's southeast coastal province of Guangdong is looking to draw on Singapore's development and administrative experience in developing the Sino- Singapore Guangzhou Knowledge City, a huge joint venture project aimed to set the trend for sustainable and knowledge-based cities.

Ten memorandums of understanding (MOUs) and cooperation agreements were signed on the project on Tuesday. Most of them were agreements between the master developer Sino-Singapore Guangzhou Knowledge City Investment and Development Co., Ltd and companies from China, Singapore, Germany and Sweden.

The cooperation documents covered areas such as general governance, social development and township management and infrastructure and industrial projects such as communications, advanced library system, education, public safety and security solutions, green hospital, animation production and training facilities.

The projects not only covered the infrastructure, but also the software aspects where Guangdong, one of the economically most developed provinces in Chinese mainland, is hoping to draw on the experience of Singapore.

Tay Hun Kiat, chief executive officer of the Sino-Singapore Guangzhou Knowledge City Investment and Development Co., Ltd, said the signing of the agreements marked another milestone achievement in the joint venture's software development and strategic initiatives platform.

"These signings reflect that investors' confidence in the Guangzhou Knowledge City project is still high. The reason is not only because of the Sino-Singapore partnership, but also that many are hoping to catch Guangdong's next economic wave which they feel is likely to come from the ongoing economic restructuring and upgrading efforts," Tay said.

Guangdong has been trying to find a sustainable approach to its economic development, as the environment in parts of the southeastern coast came under pressure after decades of fast industrialization.

The Guangzhou Knowledge City is a 50-50 joint venture project envisioned to be a sustainable city based on knowledge and talent which covers an area of 123 square kilometers in Guangzhou.

It is one of the most important joint venture projects between China and Singapore, after the Suzhou Industrial Park in the 1990s and the Tianjin Eco-City.

Construction in the city area started in October 2010, and officials said 69 projects under the joint venture had attracted investment intentions worth 37 billion yuan (5.8 billion U.S. dollars).

The signing of the agreements were witnessed by Wang Yang, secretary of the Guangdong Provincial Committee of the Communist Party of China (CPC) and a member of the Political Bureau of the Central Committee of the CPC, Chinese Ambassador to Singapore Wei Wei, Singapore's Minister for Transport and Second Minister for Foreign Affairs Lui Tuck Yew and Minister of State for Trade and Industry and National Development Lee Yi Shyan.

Wang arrived in Singapore on Sunday for a three-day official visit. He was leading a delegation of senior officials from Guangdong province. The delegation visited the Urban Redevelopment Authority, the Agency for Science, Technology and Research and the People's Association.

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