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Riding the BRI with partners for mutual win-win outcomes
AS Chinese President Xi Jinping highlighted during the Belt and Road Forum for International Cooperation in 2017, the Belt and Road should be built into a road of prosperity and innovation. In the same year, Singapore's Prime Minister Lee Hsien Loong mentioned that constructive initiatives such as Belt and Road Initiative (BRI) can promote greater regional cooperation and development. In this new context, with numerous opportunities emerging from BRI, it is vital for enterprises of both countries to ride on this growth driver in order to achieve a prosperous and innovative win-win situation.
BUILD A ROAD OF PROSPERITY
Finance is the lifeblood of modern economy. However, financial bottlenecks is the key challenge to realising connectivity. To establish a sustainable and inclusive financial system, a diversified financing system and a multi-tiered capital market is required and companies are encouraged to create new models of financing and investment as well as financial cooperation.
Singapore is one of the world's best financial centres and has also built a strong network of partnerships with multilateral development banks. Together with numerous strategic regional advantages such as stable economy and high quality business environment, Singapore can play a key role as the regional financial hub.
Hong Kong-listed CNQC International Holdings Limited is expanding its regional footprint with its partners for win-win development. In 2017, CNQC formed a "Belt and Road" asset fund together with a subsidiary of China Great Wall Asset Management Corporation, one of China's largest asset management corporations. The current project of the Fund will be the investment in Shunfu Ville, one of Singapore's largest en bloc developments in recent years.
CNQC (also known as Qingjian) also signed a memorandum of understanding with United Overseas Bank, under which UOB deepens its support of CNQC to expand through the BRI, and both parties will explore deeper collaboration in the areas of cash management, cross-border trade and investment to boost bilateral cooperation. With all this support, CNQC's capability of investment in South-east Asia is effectively enhanced.
BUILD A ROAD OF INNOVATION
Singapore's Smart Nation Initiative coincides with China's efforts to intensify cooperation in the frontier area of smart cities. Integrating into the local society, CNQC is an active advocate of Singapore's Smart Nation Initiative.
As one of Singapore's top 10 property developers and an innovative developer, CNQC's smart strategies comprise three domains - Smart Communities, Smart Homes and Smart Space. Through innovations of smart living mobile phone app hiLife, it enables residents to enjoy the lifestyle of smart communities and smart homes. With space at a premium, CoSpace™ allows the efficient and flexible use of space to suit residents' different lifestyles.
In the construction industry, the Singapore government plans to increase productivity by up to 3 per cent annually until 2020. To support higher productivity improvements, CNQC continually strive to adopt smart construction solutions. For example, CNQC is one of Singapore's first A1 grade contractors in General Building granted with IPA (In Principle Acceptance) of Concrete PPVC (Prefabricated Prefinished Volumetric Construction) System, a leading industry player in offsite manufacturing solutions. The PPVC construction method is used in its own mixed-use property development, Le Quest, which is poised to be launched.
REALISE WIN-WIN ACHIEVEMENTS
BRI laid the foundation for multilateral and multi-faceted cooperation potential. With the synergetic cooperation opportunities brought by this initiative, CNQC will continue to enhance its capabilities and promote the mutual development with its partners in a larger regional and global market.
- The writer is board secretary, Qingjian International (South Pacific) Group Development Co, Pte Ltd.