Loh Tuck Wai, Consul General of the Republic of Singapore in Shanghai Photo: Courtesy of the Consulate General of the Republic of Singapore in Shanghai

Loh Tuck Wai, Consul General of the Republic of Singapore in Shanghai, recently granted an exclusive interview with the Global Times.

At the Consulate General in Changning district, Loh shared his insights on China's reform and opening-up policy, the Belt and Road (B&R)initiative and the forthcoming China International Import Expo.

Since China's reform and opening-up in 1978, what does Loh think are the biggest changes that China has experienced over the past four decades? According to Loh, there have been many impressive changes in Chinese society, as well as changes in ordinary people's everyday lifestyle.

Loh listed Shanghai's Pudong New Area as an example. He said when he first visited Shanghai in the 1990s, the Pudong New Area was not what it looks like today. "Pudong's skyscrapers are one of the most photographed and iconic in the world," he added.

Loh added that Chinese people's method for transportation has also changed significantly. He said that, in the 1970s and 1980s, the bicycle was the dominant transportation method, while today's China leads the world in the development and use of autonomous vehicles.

People's payment methods have changed in China. "When I visited in the mid-1990s, I had to use foreign exchange certificates. Today I just use my phone and pay through Alipay and WeChat Pay," Loh explained.

Strong trade

Though these physical changes are prominent, Loh pointed out that the most significant change brought by China's reform and opening-up policy is in the mindset of the Chinese people.

He believes that all the physical changes China has achieved have been driven by the people. "I just want to highlight two qualities: the first is your [China's] willingness to learn from others, and the second is your desire to excel in whatever you do," Loh told the Global Times.

"Take e-commerce as an example. E-commerce was not invented by China. There was already Amazon in the US. But Alibaba created the 2.0 version that has totally revolutionized e-commerce."

Loh said that China now possesses a very talented pool of young people who are well-equipped for the new economy. When asked how China's reform and opening-up policy influenced Singapore, Loh told the Global Times that China and Singapore are natural partners, as both countries have established strong economic and trade linkages since 1978.

"China is Singapore's largest trading partner, and the largest source of tourism. Singapore is China's largest foreign investor and also a key offshore Renminbi clearing center for China," he said.

Loh added that, beyond economics and trade, China and Singapore also have established cooperation in a wide range of other fields, including social governance, urbanization and aging population issues.

A view of Singapore's national icon, the mythical Merlion Photo: VCG

An early supporter

As a global financial center, Singapore plays an important role in China's Belt and Road initiative. "Singapore views the Belt and Road as a very constructive initiative that strengthens trade and investment ties, and enhances integration and interdependence," Loh said. "This is why Singapore was an early supporter of the initiative."

According to him, the B&R has become a new highlight of Sino-Singapore relationship in recent years. Loh highlighted that Singapore is one of the top offshore financial centers, so it can help Chinese enterprises with financing in terms of B&R.

Loh said the Chinese and Singapore governments have cooperated closely in infrastructure projects that benefit both countries. He used the China-Singapore (Chongqing) Connectivity Initiative as an example. The initiative is expected to create a Southern Transport Corridor that links South China's Guangxi Zhuang Autonomous Region and Southwest China's Chongqing by rail, and Guangxi, Singapore and beyond by sea.

"So this transport corridor effectively reduces the transportation time for goods from three weeks to one. More importantly it contributes to the economic development of western China. This is why 10 provinces in West China are participating in this project," he told the Global Times.

Loh said that, under the B&R framework, Singapore can provide Chinese companies with professional services like project management and dispute resolution. "Many international businesses use Singapore International Arbitration Centre (SIAC) to work through commercial differences."

The SIAC opened an office in Shanghai recently. "This highlights the great popularity of Singapore arbitration services, even among Chinese clients," he said, adding that Singapore is looking forward to more cooperation opportunities with Chinese clients in this field.

Import expo

The China International Import Expo (CIIE) will be held in Shanghai in November, with Singapore an important participant. Loh told the Global Times that organizing CIIE sends a strong message to the rest of the world about China's commitment to more reform and opening-up.

"Singapore views the CIIE as a useful platform to further enhance our longstanding trade relationship. And this is why we have secured the largest exhibition space among all Southeast Asian countries for the event," Loh said.

According to Loh, a key area Singapore wants to showcase at CIIE is its high-quality professional Singaporean services. "Among China's emerging middle-class, there is an increasing demand not only for better quality products, but more sophisticated and high-value services," he told the Global Times.

"Singapore has strong capabilities in professional services. Our professional services companies have a good track record and reputation."

"I am confident that Singaporean companies will do very well at CIIE. To Singapore companies, do your best, we are Singapore. You can make a difference at CIIE too, even though we are a small country," Loh said.