M E D I A RELEASE EZ-Link Pte Ltd introduces world’s first dual currency transit card at 5th Singapore- Guangdong Collaboration Council meeting The council to explore business opportunities in three pilot zones in Guangdong province – Hengqin, Nansha and Qianhai MR No.: 025/13 Singapore, Wednesday, 21 August 2013 1. As one of the earliest Chinese provinces to embrace reforms, Guangdong has been driving changes in the country. This effort is showing results with Guangdong leading China’s provinces in GDP growth for 24 consecutive years. In yet another first established by Guangdong, together with Singapore, Singapore’s EZ-Link Pte Ltd and Guangdong Lingnan Pass have jointly developed a dual currency transit card that can be used across international borders. A first-of-its-kind in the world, the card is called the SINO Visitor Pass. It made its debut at the fifth Singapore-Guangdong Collaboration Council (SGCC) meeting held in Guangzhou today. 2. Minister for Transport Lui Tuck Yew and Guangdong Vice Governor Zhao Yufang, Co- Chairmen of the SGCC, applauded this effort at the meeting. The Council’s secretariats are International Enterprise (IE) Singapore and Guangdong Foreign Affairs Office. Both leaders recognised the good progress SGCC has made, reaffirming Sino-Singapore Guangzhou Knowledge City as a catalyst to Guangdong’s economic restructuring and stressed the need to explore new ways of collaboration in Guangdong. 3. Said Minister Lui, “We have a strong and mutually beneficial partnership with Guangdong. As Singapore companies contribute to Guangdong’s economic transformation, Singapore is also seeing strong number of Guangdong tourists and businesses here. Last year, we received 266,000 Guangdong tourists; this is about International Enterprise Singapore is the government agency driving Singapore’s external economy. IE Media Release 21 Aug 13 15% of total Chinese visitors to Singapore. In the same year, 12 Guangdong companies with a combined investment of US$240 million set up presence here. We are pleased with these positive developments and hope to do more with Guangdong.” (Please refer to Annex 1 for Minister Lui’s closing speech at the SGCC meeting) 4. Following the meeting, Minister Lui and Vice Governor Zhao witnessed eight project signings involving Singapore-based companies and organisations. (Please refer to Annex 2 for projects’ information) World’s first transit card that crosses international borders 5. A business partnership supported by the SGCC, the SINO Visitor Pass developed by EZ-Link and Guangdong Lingnan Pass aims to enhance connectivity. To be issued by both companies in Singapore and Guangdong, the card will carry two currencies – Singapore dollar and RMB – and can be used at all points that accept either EZ-Link cards or Lingnan Pass. Businessmen and tourists that shuttle between Singapore and Guangdong can look forward to greater convenience as they make payments at over 100,000 retail and transit points with just one card. These include payments for public transportation and at convenience stores. Currently under pilot testing, the companies expect to officially launch the transit card in both markets in the first half of 2014. 6. In the second phase of development, EZ-Link and Guangdong Lingnan Pass intend to extend usage of the card to payment for a wider range of items, including goods, services and tickets of tourist attractions and performances. There are also plans to widen the card usage to other parts of China. Exploring opportunities in pilot zones 7. In its latest push to upgrade its economy, Guangdong is focusing on three special economic development zones – Hengqin in Zhuhai; Nansha in Guangzhou; and Qianhai in Shenzhen. Tasked to experiment, innovate and bring about reforms in Guangdong and China, the three zones enjoy strong support from the Central Government in terms of preferential policies and incentives. Singapore companies offering high value-add services or innovative solutions in the services sector (including financial, education, healthcare, ICT and tourism etc) can contribute to the zones’ development. Page 2 of 13 IE Media Release 21 Aug 13 a. Hengqin in Zhuhai – The Hengqin Island has been designated as a free trade area and is being developed as a tourism and recreation base. b. Nansha in Guangzhou – The Nansha Development Zone was approved as China’s sixth National-level New Area 1 by the Central Government in September 2012. It is slated to be a key driver to broaden Guangdong’s economic and social development with new initiatives. c. Qianhai in Shenzhen - Qianhai will pilot initiatives to support China’s on-going financial reforms, including the internationalisation of the yuan. 8. Minister Lui is currently in Guangdong on a business mission in conjunction with the SGCC meeting. Taking place from 20 to 24 August, the mission is organised by IE Singapore and comprises of 67 business delegates from 40 companies. During the trip, Minister Lui will call on Guangdong Party Secretary Hu Chunhua, Guangzhou Party Secretary Wan Qingliang, Zhuhai Party Secretary Li Jia and Shenzhen Party Secretary Wang Rong. He will also witness the groundbreaking ceremony of the mixed development project by Yanlord and Ho Bee – Yanlord Marina Peninsula in Tang Jia Wan district, Zhuhai. (Please see Annex 3 for Singapore-Guangdong trade and investment statistics, and Annex 4 for Chinese terms) Annex 1: Closing speech by Minister Lui Tuck Yew Annex 2: Information on Project signings Annex 3: Bilateral trade and investment figures between Singapore and Guangdong Annex 4: Pictures of SINO Visitor Pass and Yanlord Marina Peninsula Annex 5: 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 on behalf of SGCC. For media enquiries, please contact: Ms Xiuxing AW Corporate Communications Group 1 The other five New Districts are: Shanghai Pudong New Area, Tianjin Binhai New Area, Chongqing Liangjiang New Area, Zhoushan Archipelago New Area and Lanzhou New Area. Page 3 of 13 IE Media Release 21 Aug 13 DID : + 65 6433 4722 Hp : + 65 9155 0433 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 (GCCs) and leading international traders. IE Singapore attracts global commodities traders to establish their home base in Singapore. Today, Singapore is a thriving trading hub for the energy, agri-commodities and metals & minerals trading clusters. Through our Global Company Partnership, we work with Singapore-based companies to customise total solutions in capability building, market access and financing for their internationalisation. 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. Singapore-Guangdong Collaboration Council The Singapore-Guangdong Collaboration Council (SGCC) was established on 24 March 2009, with the objective of promoting broader exchanges and cooperation between the business communities of Singapore and Guangdong. The launch of the SGCC was witnessed by then-Singapore Senior Minister Goh Chok Tong and then-Guangdong Party Secretary Wang Yang. Minister for Transport, Mr Lui Tuck Yew and Guangdong Vice Governor Mdm Zhao Yufang are the Co-chairmen of the Council. Comprising leaders, government officials and private sector representatives from Singapore and Guangdong, the SGCC aims to promote cooperation between Singapore and Guangdong beyond economic areas, including training, tourism and education exchanges. The council shall endeavour to achieve its objectives through the following means: a) Serve as a bridge between the economic and commercial entities and communities of Singapore and Guangdong; b) Exchange economic data and information to promote and guide bilateral trade and investment; c) Organise regular exchange activities between Singapore and Guangdong to expand cooperation in various areas / sectors; d) Resolve difficulties encountered in collaborative projects, establishing an excellent cooperation mechanism and an environment conducive for cooperation; e) Other forms of work that both parties think are beneficial for economic and social development Page 4 of 13 IE Media Release 21 Aug 13 ANNEX 1 CLOSING SPEECH BY MR LUI TUCK YEW, MINISTER FOR TRANSPORT & CO-CHAIRMAN OF THE SINGAPORE-GUANGDONG COLLABORATION COUNCIL (SGCC) AT THE 5th SGCC MEETING, 21 AUGUST 2013, GUANGZHOU Your Excellency, Guangdong Vice Governor Zhao Yufang, Distinguished Council Members, Ladies and Gentlemen, Good Morning. Introduction 1. It is good to be back in Guangdong again. This is my 6th visit to Guangdong since 2009 and it is always a pleasure to meet with old friends. On behalf of the Singapore delegation and our Council members, I would like to thank Vice Governor Zhao as well as the Guangdong provincial and municipal leaders for your gracious hospitality. 2. 2013 marks Singapore-Guangdong Collaboration Council’s (SGCC) fifth year of formation. Compared to our first