M E D I A RELEASE

Rising Opportunities for Singapore Companies in ’s Emerging Second-Tier Cities

 Six contract agreements and two MOUs inked in during business mission led by Minister Lim Swee Say and Acting Minister Lawrence Wong  Joint venture company of Singapore-Sichuan Hi-Tech Innovation Park signs MOUs with four companies at 15th Singapore-Sichuan Trade and Investment Committee (SSTIC) meeting today

MR No.: 020/13 Singapore, Tuesday, 2 July 2013

1. In line with ’s new economic direction to distribute growth across the country, the Sichuan government has adopted a new “multi-polar, multi-support” strategy1 that is aimed at spreading economic development to second-tier cities within the province. Emerging second-tier cities such as , Luzhou, , , Suining and are set to become new engines of growth, given the support from the provincial government to attract foreign investments and balance economic development across more diversified sectors.

2. The rapid development of these cities present Singapore companies with growing opportunities within Sichuan, one of China’s fastest-growing provinces. Last year, the province’s GDP increased 13.3%2 to S$495.04 billion3 (2.38 trillion yuan) – this GDP growth was among the top ten in China. Potential areas of cooperation with Luzhou are aligned with Singapore companies’ areas of expertise such as urban solutions, logistics, education and hospitality services.

1 多点多极支撑发展战略 2 Source: Sichuan Statistics Bureau, Sichuan Department of Commerce 3 Converted based on https://secure.mas.gov.sg/msb/ExchangeRates.aspx on 21 June 2013

International Enterprise Singapore is the government agency driving Singapore’s external economy. IE Media Release 2 July ’13

3. The push to explore regional opportunities beyond was discussed at the 15th Singapore-Sichuan Trade and Investment Committee (SSTIC) meeting held in Chengdu today. The meeting was co-chaired by Mr Lawrence Wong, Acting Minister for Culture, Community and Youth, and Senior Minister of State for Communications and Information, as well as Mr Gan Lin, Sichuan Vice Governor. The Singapore SSTIC Advisor, Mr Lim Swee Say, Minister, Prime Minister’s Office, was also present. In conjunction with the meeting, International Enterprise (IE) Singapore, Secretariat of the SSTIC, organised a business mission to Sichuan from 30 June to 3 July.

4. At the meeting, results of last year’s collaboration initiatives and a new Work Plan for 2013 – 2014 were discussed. The Committee agreed to focus on giving continuous support to the development of the Singapore-Sichuan Hi-Tech Innovation Park (SSCIP), the flagship project under SSTIC, and partnering Sichuan in its evolving development needs in the “Three Moderns4”. It will also work with Sichuan companies that are keen to internationalise through partnering Singapore. (Please refer to Annexes 1 and 2 for speeches by Acting Minister Wong and Minister Lim.)

Second-tier cities in Sichuan present first-mover advantage for Singapore companies

5. Within Sichuan, Chengdu city alone accounts for about one-third of the province’s GDP. To spread economic development and boost the growth of second-tier cities in Sichuan, the provincial government’s “multi-polar, multi-support” strategy will focus on urbanisation to drive domestic consumption, development of modern services and improving connectivity through more efficient transport and logistics systems.

6. Said Acting Minister Wong, “Opportunities for Singapore companies are growing in tandem with Sichuan’s rapid development today. With the provincial government’s renewed commitment and support to enhance the business dynamism of Sichuan, it is timely to bring our cooperation to the next level by exploring opportunities in new sectors and cities beyond Chengdu. Singapore companies can contribute relevant capabilities and experience to Sichuan’s second-tier cities, especially in urban solutions,

4 The SSTIC supports collaboration between Singapore and Sichuan in the “Three Moderns”, which refers to the three broad aspects of Modern Services, Modern Living and Modern Manufacturing. By “Modern”, it refers to innovative or new offerings that Singapore companies can introduce to Sichuan. These areas are aligned to Sichuan’s key evolving developmental needs. *Examples of the “Three Moderns” (non- exhaustive): Modern Services - Professional services, Education, Hospitality, Retail, F&B; Modern Living – Infrastructure services, Environmental services; Modern Manufacturing – Production processes, Production technology, Production supporting services e.g. Logistics.

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which are crucial for the early development of a city. Singapore companies that can access these markets quickly will enjoy first-mover advantage.”

Six contract agreements and two Memoranda of Understanding (MOUs) mark deepening relations with Luzhou 7. As part of the mission, the delegation visited Luzhou, one of the key emerging economic hubs of strategic importance to Sichuan. In 2012, the city’s GDP grew 14.4% from the previous year to hit S$21.42 billion 5 (103.04 billion yuan) while urban disposable income grew 16.0% to reach S$4,3156 (20,746 yuan). Located in southeast Sichuan, Luzhou is an economy with increasing consumer spending power and where the largest river port in Sichuan is situated. The city is targeting to double the urban area and population to 200 sqkm and two million respectively by 2030, as well as improve infrastructure and transportation developments to cater to the needs of its urban dwellers.

8. Luzhou presents cooperation opportunities for Singapore companies in urban solutions, industrialisation, water management, port management and education. Attesting to the interests of Singapore companies, six contract agreements and two MOUs were inked in Luzhou during the trip. These were witnessed by Minister Lim, Acting Minister Wong, Luzhou Party Secretary Jiang Fuyi and Luzhou Mayor Liu Qiang. The contract agreements and MOUs span the education, master planning and water management sectors: a. Ednovation signed one contract agreement to set up its first pre-school in the city under its brand name known as ChildFirst Kindergarten. b. JURONG International (China) signed five contract agreements to partner the municipal government in industrial landscaping, positioning and master planning. c. Hyflux signed two MOUs to expand its operations into Luzhou through the development of water products and management projects. (Please refer to Annex 3 for more details.)

Potential of Sichuan’s second-tier cities, outside of Chengdu 9. The interests of Singapore companies in opportunities within Sichuan’s second-tier cities are on the rise. Of the 461 Singapore projects in Sichuan as at end 2012, more

5 Converted based on https://secure.mas.gov.sg/msb/ExchangeRates.aspx on 21 June 2013 6 Converted based on https://secure.mas.gov.sg/msb/ExchangeRates.aspx on 21 June 2013

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than one third are in second-tier cities. Their presence in these second-tier cities spans a wide range of industries, including: a. Asiaphos (phosphate supply chain) in Deyang; b. Banyan Tree (hospitality) in Jiuzhaigou; c. CapitaMalls Asia (retail management) in Deyang, Mianyang and Yibin; d. GLP (warehouse facilities) in ; e. JURONG International (China) (urban solutions and master planning) in Suining; f. Rigel Technology (sanitary ware) in Luzhou; g. United Envirotech (wastewater treatment) in Neijiang.

Singapore projects making good strides in Sichuan

10. At the SSTIC meeting today, the joint venture company of the SSCIP project, Sino- Singapore (Chengdu) Innovation Park Development Co., Ltd, signed MOUs with four companies, which will invest in the SSCIP development. They are Cubix International Pte Ltd, First Sponsor Capital Limited (an associate of Millennium & Copthorne Hotels plc (M&C)), Guangxi Coha Investment Group Ltd and Shenzhen PowerLeader Investment Holding Ltd. (Please see Annex 3 for more details.)

11. The SSCIP joint venture company reported good progress on the implementation of the project, having completed 95% of the resettlement of local residents. On-going construction of basic amenities and investment promotions are developing well. Of the eight pillar industries of SSCIP7, the company has completed mapping of the value chain and industry positioning for the biomedical and digital new media industries. Tomorrow, Minister Lim and Acting Minister Wong will officially open the newly- constructed SSCIP on-site investment promotion centre.

12. Today, the two Ministers also graced the inauguration ceremony of M Hotel Chengdu, developed by First Sponsor Capital Limited. The hotel is also a part of Hong Leong Group Singapore’s first mixed development in Chengdu. The newly opened hospitality property is one of three hotels under the M&C brand in Sichuan and its first M Hotel in China.

7 Eight pillar industries of SSCIP are: 1) IT, 2) hi-tech and precision manufacturing, 3) high-end services, 4) clinical research organisation (CRO) and medical device manufacturing, 5) creative industries, 6) bio- medical research and development, 7) green industries, 8) education and training, which will be a common theme supporting the above seven industries.

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Annex 1: Opening speech by Acting Minister Lawrence Wong at the 15th SSTIC meeting Annex 2: Closing speech by Minister Lim Swee Say at the 15th SSTIC meeting Annex 3: Information on company signings Annex 4: Chinese terms

---End---

Note to Editor Please use ‘IE Singapore’ or ‘IE’ if an acronym for ‘International Enterprise Singapore’ is required. In addition, unless otherwise stated, the use of statistics cited in our media releases, website or Statlink, should be attributed to IE Singapore.

Issued by IE Singapore for the SSTIC. For media enquiries, please contact:

Ms MOK Kai Lynn Manager, Corporate Communications Group DID : + 65 6433 4706 HP : + 65 9852 5972 Email : [email protected] ______

About International Enterprise Singapore

International Enterprise (IE) Singapore is the government agency driving Singapore’s external economy. For the past 30 years, we have been spearheading the overseas growth of Singapore-based companies and promoting international trade. Our vision is a thriving business hub in Singapore with Globally Competitive Companies and leading international traders.

IE Singapore attracts global commodities traders to establish their global or Asian home base in Singapore. Today, Singapore is a thriving trading hub with a complete ecosystem for the energy, agri-commodities and metals & minerals trading clusters.

Through our Global Company Partnership and Market Readiness Assistance, we also work with Singapore-based companies in their various stages of growth towards being globally competitive.

Our global network of overseas centres in over 35 locations provides the necessary connections in many developed and emerging markets. Visit www.iesingapore.com for more information.

About Singapore–Sichuan Trade and Investment Committee

The Singapore-Sichuan Trade and Investment Committee (SSTIC) is a bilateral economic framework aimed at strengthening Singapore's economic relations with the Sichuan Province. It was formed in May 1996 and comprises public and private sector members from Singapore and Sichuan.

Mr Lim Swee Say, Minister, Prime Minister’s Office, and Mr Wei Hong, Sichuan Governor, are Advisors to the committee while Mr Lawrence Wong, Acting Minister for Culture, Community and Youth, and Senior Minister of State for Communications and Information, and Mr Gan Lin, Sichuan Vice Governor, are Co-Chairmen of the SSTIC.

IE Singapore is the Secretariat to the SSTIC in Singapore.

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ANNEX 1

OPENING SPEECH BY MR LAWRENCE WONG, ACTING MINISTER FOR CULTURE, COMMUNITY AND YOUTH, SENIOR MINISTER OF STATE FOR COMMUNICATIONS AND INFORMATION, AND CO-CHAIRMAN OF SINGAPORE-SICHUAN TRADE AND INVESTMENT COMMITTEE (SSTIC) AT THE 15th SSTIC MEETING 2 JULY 2013, 1630HRS CHENGDU, SICHUAN

尊敬的四川省常务副省长钟勉先生， 四川省副省长甘霖先生， 新加坡-四川贸易与投资委员会会员， 女士们，先生们， 上午好！

1. 首先，我谨代表新加坡代表团全体成员，向钟省长, 甘副省长以及四川省各 位政府代表的热情接待致以诚挚的感谢。

新加坡与四川日益增强的双边关系

2. 新川贸投委自 1996 年 成立至今已经走过了 17 个春秋。多年以来，新加坡 对四川未来发展的信心不曾改变。在双方领导的关心和推动下，新加坡与四 川的双边经贸往来不断加强。新加坡已经成为了四川的第三大外资来源国。 截止 2012 年底, 我们在四川省的项目多达 461, 实际投资额累积达到 27 亿 美元8。新加坡是四川省第九大贸易伙伴，2012 年总贸易额高达 18 亿美元9。

3. 新加坡与四川省的紧密合作，不仅体现在日益加强的双边经贸关系上，同时 也体现在双方领导的频繁互动上。去年，新加坡李显龙总理到访四川，而甘 霖副省长也两次率团访问新加坡。这样多层次，高频率的互访与互动不仅增 进了双方的友谊，更增进了我们在各个领域的交流。

新加坡将继续通过“三个现代” 参与四川的建设和发展

4. 长久以来，新加坡各界一直非常关注四川省的发展。从最早期进入四川省的 制造生产型企业，到现在的城镇开发建设和服务型企业，新加坡企业在四川 的发展曲线和四川省的各个发展阶段所需的要素是吻合的。

8 US$2.7 billion or S$3.44 billion 9 US$1.81 billion or S$2.31 billion

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5. 新川贸投委“三个现代化”的主题不仅符合四川不断变化的发展需求，同时 也体现了新加坡的优势。以“现代服务业” ，“现代生活”和“现代制造 业”为合作基础，新加坡企业将创新的理念与解决方案引进到四川。例如成 都来福士城项目, 裕廊国际在四川各地的概念性规划, 亚化集团在绵竹的化 工项目等。通过这样的合作不仅有利于四川进一步城镇化发展，同时也会带 动四川省经济的发展，满足四川省人民的需要。这也为新川双方寻求双赢发 展提供了更大的空间。

新加坡-四川创新科技园

6. 新川贸投委“三个现代化”的主题在新川创新科技园这个重要的平台型项目 上充分体现出来。自 2010 年启动以来，这项目得到了四川省各级领导的关 心和帮助。它也充分展示了新加坡企业在四川发展的决心。作为新加坡和四 川共同在中国内陆地区合作的首个大型项目，它不仅是新加坡和四川牢固伙 伴关系的象征，也是四川省经济转型的示范项目。

7. 新川创新科技园合资公司已到过新加坡, 上海，美国等国家进行园区推介， 至今正在积极洽谈的有 15 个项目不等。而稍候合资公司将与四家企业签署 合作备忘录。我相信，通过定期的沟通和相互了解，双方必能共同迈入下一 个快速发展阶段。新加坡政府也将一如既往地支持新川创新科技园的发展， 以“企业先行、政府支持, 商业模式”的原则，结合各方面的优势，作好科 技园的开发与建设。我期待和在座的各位一起见证丰收的季节！

走出成都，寻求与新兴城市的合作和发展

8. 新加坡企业的项目向来聚集在成都。但近年来，我们看到新加坡企业开始积 极地尝试和寻找与四川其他城市的合作机会。这恰好呼应了王东明书记所倡 导的“多点多极支撑”发展战略。

9. 随着整个四川省的快速城市化，我们希望通过新加坡过往的城市建设发展经 验以及能力协助其他城市一起实现快速发展。

10. 令人欣喜的是，我们已经有一些新加坡企业带头先行，在不同领域参与各个 城市的发展。这次我们的新加坡商业团队有机会到泸州考察交流。泸州的城 市化建设发展迅速，并拥有特出的白酒产业基础。这赋予我们新加坡企业与 泸州无限的合作空间，例如在水务处理，旅游及酒店业等领域。前天，新加 坡企业已经与泸州市签署了多项备忘录。育脑集团将开办在泸州的第一所幼

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儿园, 凯发集团正与泸州企业如新泸集团探讨水务环保领域的合作，裕廊国 际也将为泸州的多个园区进行定位研究。我期待看到更多新加坡企业积极前 往四川省开拓新市场, 让双方关系再创高峰。

结束语

11. 最后，我衷心感谢四川省和各市政府长期以来给予新加坡企业的关心和大力 支持。我相信，在钟省长和甘副省长的领导与推动下，新川两地必将展开更 多新的合作领域，双边关系也定能更上一层楼。

12. 我预祝第 15 届新加坡－四川贸易与投资委员会会议圆满成功！谢谢大家！

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ANNEX 2

CLOSING SPEECH BY MR LIM SWEE SAY, MINISTER, PRIME MINISTER’S OFFICE, AND ADVISOR OF SINGAPORE-SICHUAN TRADE AND INVESTMENT COMMITTEE (SSTIC) AT THE 15th SSTIC MEETING 2 JULY 2013, 1740HRS CHENGDU, SICHUAN

尊敬的四川省常务副省长钟勉先生， 四川省副省长甘霖先生， 新加坡-四川贸易与投资委员会委员们， 女士们，先生们， 上午好！

1． 首先，我非常感谢四川省市政府这几天来给予我们的热情接待和细致安排!

2． 我觉得我们双方到目前为止的合作是令人鼓舞的，我要感谢双方领导一直给 予的支持。我在此也感谢钟省长拨冗出席今天的新川贸投委会议。我们希望 各位领导对新川贸投委多多关心和帮助，加强新川之间的合作。同时我要感 谢双方企业多年来积极的投资发展，使新川经贸顺利进展。

3． 往前看，我们双方都面临相当大的挑战。中国的经济已从双位数的进展走向 单位数得进展。而新加坡经济在转型中，从过去每年 4-5%的增长率开始放 慢。不过经济增长的放慢不一定不好，有时候慢有慢的好处，如果能慢而优 的话，整个经济发展的持续性会越来越强。在这个大背景下，我们新川的合 作也要加快步伐，来强调如何优化我们两地之间的经济合作。

4． 在优化合作的过程中，我们可以集中在两点。第一点是创新科技的合作。我 们的新川创新科技园是关键性的合作项目，因为它代表了四川接下来的发展 方向。同时，这个项目也提供了一个平台，让我们把新加坡的创新，大胆尝 试的概念带到四川。我们可以一起创新，一起争取突破。当然在这个突破的 合作中，我们会面对新的挑战。新川创新科技园是我们优化合作的关键项目。 我希望双方可以互相了解，互相支持，加快步伐，把项目很好的做起来。

5． 第二点，除了新川创新科技园来优化合作，我们觉得时机已成熟 - 我们可以 从以成都为重点，走向多点的合作，到其他四川的城市。到目前为止，新加 坡的投资重点主要是成都。当然成都还是会继续是我们的重点，不过同时， 我们要不断的扩大我们的投资范围。

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6． 这一次我们到了泸州。还没到泸州之前，听说它是个酒城。之后经过泸州领 的介绍，了解到泸州不止是酒城，也是港城，山城等等。我们听了泸州长期 的规划，也了解到泸州的领导对泸州未来的发展已经有很明确的方向，在 2030 年成为更大的城市。接下来，他们不论是工业化，城市化，现代化等 等各方面会面对挑战。

7． 而新加坡在过去几十年来在工业化，城市化，国际化，现代化方面，都有类 似的经验。我们所经历的发展经验能为泸州起到借鉴作用。我相信新加坡和 泸州一起寻找发展的空间是非常大的。

8． 通过成都为重点，我们可以优化合作，同时，通过多点的方向来不断扩大我 们之间的合作范围。我要再次感谢双方企业，政府，朋友们 17 年来给予的 大力支持。我们新方非常珍惜与四川的合作关系。我可以百分之百的承诺， 新方会继续重视，继续珍惜这个合作关系，把条件最好的企业，实力建强的 企业介绍过来，一起通过政府支持，企业操作，把我们之间的合作推向更高 峰。谢谢。

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ANNEX 3

SIGNINGS IN LUZHOU DURING THE MISSION

Six contract agreements and two MOU were signed in Luzhou on 1 July.

They took place between:

1. Ednovation and Dongsheng to set up its first pre-school in Luzhou under phase one of Dongsheng’s Future City project (蓝滨城). [contract agreement]

2. Hyflux and Luzhou Laojiao Group (泸州老窖集团) to collaborate on joint development of a “Healthy Water” product (生命活水). [MOU]

3. Hyflux and Luzhou Xinglu Group（泸州兴泸投资集团) to cooperate in joint development and management of water projects, focusing on Sichuan province. [MOU]

4. JURONG International (China) and Lu County People's Government (泸县人民政府) to develop a detailed master plan for Qinglong Medical Park (青龙医药园). [contract agreement]

5. JURONG International (China) and Luzhou Municipal Economic and Informatization Commission (EIC) (泸州市经信委) for the development of positioning studies for its nine industrial parks. [contract agreement]

6. JURONG International (China) and Luzhou EIC on the development of positioning studies for its Medical Industrial Park (医疗产业). [contract agreement]

7. JURONG International (China) and Luzhou Laojiao to develop a conceptual master planning and urban design for China White Liqueur Business Park (中国白酒总部基地). [contract agreement]

8. JURONG International (China) and Luzhou People's Government ( 泸州市江阳区人民政府) to develop positioning studies for Luzhou Hi-Tech Park (泸州高 新技术开发区). [contract agreement]

SSCIP SIGNINGS AT THE 15th SSTIC MEETING TODAY

The joint venture company of the SSCIP project, Sino-Singapore (Chengdu) Innovation Park Development Co. Ltd, signed MOUs with four companies that will set up premises at the SSCIP:

1. Cubix International Pte Ltd (裘比国际私人有限公司)

Singapore’s Cubix International is a professional media and consulting firm who is also involved in film-financing, film-making, animation production, CGI and special effects, as well as co-production. It produced Singapore’s first 3D animated feature film and the world’s first 3D animated film on the Chinese Zodiac. It will set up a Cubix Media Hub ( 裘比媒体城) in the SSCIP in Digital New Media (Film Production) (数字新媒体（影视制 作）).

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2. First Sponsor Capital Limited, an associate of Hong Leong Group Singapore (首 铸资本有限公司（新加坡丰隆集团成员）

Singapore’s Hong Leong Group is a globally diversified company with five core businesses in property investment and development, hotel ownership and management, financial services, trade & industry, and e-businesses. It will set up Hong Leong Group’s Integrated Project (丰隆集团综合体项目) in the SSCIP to develop service apartments, retail units and residential apartments.

3. Guangxi Coha Investment Group Ltd (广西晨华投资集团有限公司)

Guangxi Coha is a large modern enterprise group with investments in steel manufacturing, iron and steel trade, non-ferrous metals, energy development, coal logistics, international trade, industry, investment, real estate development, financial investment and strategic investments. It will set up Guangxi Coha Group’s Southwest Electronic Steel Trading Platform (广西晨华集团西南钢铁电子交易中心暨集团西南总部/ 配套项目) in the SSCIP as the Group’s Southwest China HQ and Supporting Facilities (HQ and Finance) (总部、金融).

4. Shenzhen PowerLeader Investment Holding Ltd (深圳市宝德投资控股有限公司)

PowerLeader is an associate company of PowerLeader Science and Technology Group, one of China’s biggest server providers principally engaged in design, development, manufacture and sale of server solutions, cloud computing equipment and also game clouding platform services. PowerLeader owns three public-listed companies including PowerLeader Technology (HK8236), ZQ Game (SZ300052) and Bluedon (SZ300297). It will set up PowerLeader Southwest Gaming Valley (宝德西南游 戏谷) in the SSCIP in Digital New Media (Gaming) (数字新媒体（游戏制作）).

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ANNEX 4

CHINESE TERMS

International Enterprise (IE) Singapore 新加坡国际企业发展局（企发局） Singapore-Sichuan Trade and Investment 新加坡－四川贸易与投资委员会 Committee Singapore-Sichuan Hi-Tech Innovation Park 新加坡-四川创新科技园 (新-川创新科技园) Mr Lim Swee Say 林瑞生先生 Minister, Prime Minister’s Office 新加坡总理公署部长

Advisor 顾问 Singapore-Sichuan Trade and Investment Committee 新加坡－四川贸易与投资委员会 Mr Lawrence Wong 黄循财先生 Acting Minister for Culture, Community and 文化、社区及青年部代部长兼通讯及新 Youth, and Senior Minister of State for 闻部高级政务部长 Communications and Information

Co-Chairman 联合主席 Singapore-Sichuan Trade and Investment 新加坡－四川贸易与投资委员会 Committee Mr Wei Hong 魏宏先生 Sichuan Governor 四川省长

Advisor 顾问 Singapore-Sichuan Trade and Investment Committee 新加坡－四川贸易与投资委员会 Mr Gan Lin 甘霖先生 Sichuan Vice Governor 四川副省长

Co-Chairman 联合主席 Singapore-Sichuan Trade and Investment Committee 新加坡－四川贸易与投资委员会 “Multi-polar, multi-support” strategy 多点多极支撑发展战略

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