Singapore becomes Tianjin's fifth largest foreign investor

Updated: 25 Sep 2014
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The five-star Pan Pacific hotel stands alongside the Haihe River in Tianjin.

 

Singapore signed 22 projects worth S$850 million ($672.7 million) with Tianjin in the first eight months this year, and the little Southeast Asian nation is now the municipality's fifth largest foreign investor.

Tianjin's shift towards a market-driven economy is the motivating factor in the boom of business cooperation between Singapore and Tianjin, says Khaw Boon Wan, Singapore's Minister for National Development, during the seventh Singapore-Tianjin Economic and Trade Council meeting held in Tianjin recently.

Investments by Singapore companies in Tianjin increased by three percent last year to a total value of $940 million.

"Tianjin reforms open more doors for Singapore firms," says Khaw.

"Singapore companies attach more attention to investment opportunities in modern service sector, environmental protection, high-technology, health care and education sectors," the minister adds.

The hospitality industry is an example.

Singapore-based Pan Pacific Hotel Group is ready to launch a five-star hotel and serviced suites in October. It will be the fifth Pan Pacific hotel in China, following properties in Xiamen of Fujian province, Ningbo of Zhejiang province, and Suzhou in Jiangsu province.

The Tianjin property marks the Singapore hotel giant's first foray into North China.

"Due to its strong heritage as a port city, Tianjin has become an important economic center in the country and is now home to some 300 Fortune 500 companies," says Reinhold Johann, general manager of Pan Pacific Hotel and Serviced Suites Tianjin.

"The development of the Bohai Economic Rim and the Beijing-Tianjin-Hebei integration initiative will further underscore Tianjin's position as a key engine of economic progress, especially for the Northern China region, thereby attracting more business to the city," he says.

Named as "2014's Most Anticipated New Hotel Opening" at the sixth annual Gold Champion Awards hosted by China Hotels Magazine, the 319-unit Pan Pacific Hotel and Serviced Suites Tianjin will respond to the growing demand for quality accommodation in the city in light of Tianjin's booming economic prospects.

"As the country's call for integrated development among Beijing-Tianjin-Hebei province, Tianjin will be engaged to promote investment and trade facility, which will result in more business opportunities for Singapore companies," Sun Chunlan, Party chief of the coastal city Tianjin.

Bilateral trade between Singapore and Tianjin reached $2.9 billion in 2013, up 34 percent from the previous year. And in the first quarter of this year, Singapore-Tianjin trade reached $847 million.

As another most outstanding project under the business tie between Singapore and Tianjin, the Singapore-Tianjin Eco city project launched more than five years ago has enjoyed Singapore's strong experience in the fields of ecological mode, green architectures and environmental economics.

Both sides are still working in partnership in exploring creative mode in the Eco City. In July, the Eco-city project conducted pilot cross-border yuan transactions with Singapore, which will help an increasing number of small and medium-sized companies participating in the project.

"Financial services are an important area for cooperation, which will be further enhanced as the cross-border yuan initiative is implemented. More Singaporean investors can tap into the growth of companies located in the eco-city," said Lee Yi Shyan, Singapore's Senior Minister of State for Trade & Industry and National Development.

 

SOURCE: www.ecns.cn

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Comments Area ( Total Comments: 3 )
marlenechip Commented on 02 Apr 2015
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charleswbaer Commented on 30 Sep 2014

charles webster baer
tianjin china
september 30th , 2014

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how . thats short for nee how , which means hello in chinese . also , after saying she she for four months , I found out that thank you is sheh sheh . so , no more she she , now its all sheh sheh . and when I say sheh sheh the response is usually KUSH . so I think kush means your welcome . I now have a week off because october one through seven is NATIONAL DAY . so this week we celebrate the communist government of the peoples republic of china . party on . teaching is going great . on monday I have two classes in the morning . on tuesday I have one class in the morning . each class is an hour and a half . on wednesday I have one class in the morning and one at night . on thursday and friday I have two classes in the morning and one in the afternoon . so , busy next three months . I am teaching my classes about the united nations and the international monetary fund and about transparency so I am teaching them about stuff that I find important . my classes are like 90% female so Im not sure why that is . this is military month so everyone is dressing up in camo , the guys in the usual green camo , the girls in this blue white camo . not really sure where you can go and blend in in blue and white . so may is the month when I re negotiate my contract . now there are many ways to do this . some legal , some illegal , some semi legal , etc . I have my company , and they are getting paid by the university , as they should . however , when my year contract is up with them , then what . do they own me , slave style , forever , when I teach in china . Im not sure about this , but I am curious . and even if they do , apperantly , I can just tell them Im going home to the usa , then change my mind and stay and become a free agent or whatever . so , I will be looking into all these possiblities next year . one thing is for sure , Im going to get a big raise and less hours here or Im going to go to another part of the country . the weather is now nice and cool . have not been able to say that since I was in oregon . me and john gordon are set to clash on chess.com shortly . my status as supreme allied chess chief is not in jeopardy because all tie\'s go to the world champion ( me ) . I have a flash drive so , in theory , I can take stuff off you tube and show it in my class , so , I may get into that . because china is getting heavy into the united nations and the international monetary fund , china is a world leader , and I get into this in my classes , and everyone gets really pumped up , like , yeah , china , world leader , etc . so thats fun . then we get into transparency and female reproductive rights and stuff and its this huge charles webster baer and china save earth propaganda freak show . I love it . and they learn english . so everyone has a good time . so , practically all my students are female sophmore english majors . we watched CASABLANCA last week and that was cool . what a movie . I cant really play my conga because everyone is in class . but now I can play it all week long . I cant tell if my turtle is hibernating or dead , and , frankly , I dont really care anymore . if he starts to smell its into the trash . this concludes turtle news . following football and baseball without watching it , and all news for that matter , is a far more intellectual pursuit . much more cerebral . almost abstract . open to deeper analysis on a sub concious level . slows it down for a better perspective . more detatched , and thus , clearer . if you not personally involved in a concept , such as , say , america , you can gain a better understanding . I have actually considered coming back to america just to buy some chewing tobacco and then return immediately to tianjin . arnel\'s black american friend jerome will be here for a week so it will be good to see a fellow yank . you guys dont understand , I am the ONLY white person on this campus of 17,000 and it seems like Im the only white person in this town of 11 million . Im not kidding . there are no white people in china . no australians , no canadians , no europeans , nothing . there is a handfull of black people but they are from africa . china can communicate with the world with the english language and with each other with this top secret code called the chinese language . so only china can communicate with everyone . I dont even have enough money to get drunk any more . so , I guess that is good news . a few weeks ago I got up at 7am and read the poem THE ROAD LESS TRAVELED to a few hundred chinese students dressed in military uniform , twice . that was fun and bizarre . I also judged a second english contest . the first one had a chick in it who was the only one who answered the question they were all talking about . how do you change the unchangeable . everyone was babbling on about perservieriance and believing in yourself and that kind of drivel . this chick said , change the meaning of the word unchangeable to changable . so , instead of asking her a question I just turned around on the mic and faced the croud , this was the finals so there was like three hundred people or whatever , and I said , this is the only person who answered the question . everyone loves my dreads . my students ask me to sing them a song so I sing them lido shuffle by boz skaggs . the food is really good but thats probably because its september and everyone is havesting all the fresh vegtables and there is plenty of them etc . I will have time to tutor off campus in january and febuary so I can make some extra cash that way . it seems that my only physical connection with the life I use to know is a cold plastic bottle of coke a cola . here it is spelled OJOOJ4 . dont ask why because I dont know . if its you vs. twenty women who want to watch a movie your gunna lose so yesterday we watched a chinese movie a chick had on her flash drive about a chinese woman and her kid . every class I have those students who just cant or wont say anything . some people have advised me to ignore those people , but , Im not going to do that . my classes are small enough that I can talk to every student and silence just wont cut it in my class . every student stands up and says something . if they dont have anything to say I give em something to say . my washing machine plays jingle bells when its done . my epic struggle against the mosquito invaders seems to be subsiding . so I get paid on the 15th of every month . the key to this is getting the reciept and have the ballance be on it . so , when my food card runs out of food point on october 18th , I will hit up my china construction bank atm , there are four of them withing a four block radius , and now I have cash to eat . and cash to buy soap . the good life . things become very simple when your broke . and healthy . from tofu to kong fu . I told a japanese guy sianara yesterday . ok peeps , thats all I got . cwb out .
charleswbaer Commented on 30 Sep 2014

charles webster baer
tianjin china
september 30th , 2014

.

.




how . thats short for nee how , which means hello in chinese . also , after saying she she for four months , I found out that thank you is sheh sheh . so , no more she she , now its all sheh sheh . and when I say sheh sheh the response is usually KUSH . so I think kush means your welcome . I now have a week off because october one through seven is NATIONAL DAY . so this week we celebrate the communist government of the peoples republic of china . party on . teaching is going great . on monday I have two classes in the morning . on tuesday I have one class in the morning . each class is an hour and a half . on wednesday I have one class in the morning and one at night . on thursday and friday I have two classes in the morning and one in the afternoon . so , busy next three months . I am teaching my classes about the united nations and the international monetary fund and about transparency so I am teaching them about stuff that I find important . my classes are like 90% female so Im not sure why that is . this is military month so everyone is dressing up in camo , the guys in the usual green camo , the girls in this blue whi
  

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