Deepening ties, driving growth: Business China Awards 2025 honours bilateral catalysts

As Singapore and China mark 35 years of diplomatic ties in 2025, the spotlight is on the people and partnerships that have brought the two nations closer together.

“Singapore and China have enjoyed a growing, multifaceted relationship over the past 35 years. In addition to frequent contacts between leaders of the two countries, our business communities develop close and meaningful partnerships in many fields of common interests,” says Lee Yi Shyan, chairman of Business China.

Founded in 2007 under the patronage of Singapore’s founding Prime Minister, Lee Kuan Yew, Business China develops bilingual and bicultural leaders to connect with China’s growth.

Since 2010, the Business China Awards have recognised individuals and organisations for their outstanding contributions to Singapore-China relations, strengthening bilateral ties in business, economic, social and cultural spheres.

Lee Yi Shyan says: “This year’s winners made outstanding contributions to the growing and glowing connections between Singapore and China. Their achievements build trust and make friends. Their work inspires the next generations to accomplish even more.”

Jointly presented with OCBC, the 2025 awards highlight three stories: a respected diplomat, a next-generation business leader and a landmark initiative linking Singapore and China. Together, the awardees exemplify resilience, innovation and collaboration – qualities that will continue to shape the future of bilateral ties.

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OCBC deputy chief executive officer Tan Teck Long notes: “The enduring partnership between Singapore and China continues to open new frontiers for innovation, collaboration and growth. The Business China Awards serve as a vital platform to recognise visionary leaders and enterprises who are not only strengthening these cross-border ties but also setting new benchmarks in excellence.

“As a bank with longstanding history in both Singapore and China, OCBC is proud to support and partner with businesses and individuals that are shaping the future of our region.”

Diplomacy built on mutual respect

For Chin Siat Yoon, Singapore’s former ambassador to China, the golden rule of diplomacy is understanding – the key to building trust and forging enduring ties.

“To successfully operate in China, you first need to understand its history, its governing system and that it is a vast country with a multi-layered government,” he says. Contemporary history, he adds, from the Qianlong era to the First Opium War in 1840, has left a lasting imprint on how modern China sees itself and engages with the world.

It is this perspective that has earned him the Business China Excellence Award 2025, recognising his lifelong contributions to strengthening Singapore-China ties.

Chin explains that China’s hybrid system – part state-controlled, part free market – requires nuance. While the private sector prioritises profit, the command economy enables long-term projects beyond the reach of companies alone. Local governments also wield significant influence, making personal connections indispensable.

Among his many contributions, Chin cites resolving early challenges at the Suzhou Industrial Park, helping establish the Joint Council for Bilateral Cooperation, advising on the Tianjin Eco-City and supporting the landmark China-Singapore Free Trade Agreement (FTA) in 2008 – the first FTA China signed with an Asian country.

“All this is not due to my ability; it is a combination of timing, fate and luck,” he says.

Driving growth while strengthening ties

At the core of any international strategy is location. The decision on where to base a regional or global headquarters determines connectivity, influence and growth potential.

For Chinese agribusiness giant New Hope, that place is Singapore.

“The vision of our enterprise is to become the leader in agriculture, animal husbandry and food industry to benefit farmers and consumers,” says chairwoman Angela Liu. She is the recipient of the Business China Young Achiever Award 2025.

With New Hope’s overseas headquarters sited in Singapore, she transformed the company into an agricultural giant with 386 feed production facilities worldwide, introducing cutting-edge technologies such as the proprietary ‘Hongtong’ digital nutrition system and championing antibiotic-free farming across South-east Asia and Africa, helping to lift farmers’ incomes while promoting sustainability.

For Liu, Singapore offers more than connectivity and markets – it is also a place to grow talent and turn ideas into opportunities. Since 2015, Liu has partnered with National University of Singapore, Nanyang Technological University and Singapore Management University to host talks, internships, factory visits and research collaborations, supporting Singapore’s “30 by 30” food security vision while giving students exposure to global business practices.

Her advice to young entrepreneurs is evident in New Hope’s international strategy: Use Singapore’s position as a world-class financial hub as a launchpad for global growth, while drawing on China’s scale and resilience.

Reshaping regional trade flows

Goods shipped from Chongqing to Singapore now arrive in just a week – a third of the previous transit time – under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI).

Launched a decade ago, China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) is the third government-to-government project between Singapore and China. It has since evolved into a dynamic economic network linking western China – home to over 30 per cent of the country’s population – with South-east Asia, an equally populous region of 700 million people.

At the heart of CCI is the CCI-New International Land-Sea Trade Corridor, a faster, more direct route that links Chongqing to Guangxi’s Qinzhou port by rail – before continuing by sea to Singapore. This has slashed shipping times from three weeks to just seven days. Goods shipped from western China to Singapore now arrive much faster than before.

The shorter route has transformed shipping times, with digital connectivity supporting smooth cross-border trade flows. Digital platforms allow shipping data to be shared seamlessly in real time, such that trade and logistics players have visibility of where their goods are.

The CCI has delivered impact across its four priority sectors: financial services, aviation, transport and logistics, and information and communications technology. Since its launch in November 2015, the initiative has led to over US$21 billion (S$26.9 billion) in cumulative cross-border financing.

For its role in transforming ties between Singapore and western China through trade, innovation and sustainable growth, CCI has been awarded the Business China Enterprise Award 2025.

Read more about Business China Awards on the Business China website.