steveluv Twincharged March 5, 2019 Share March 5, 2019 https://asia.nikkei.com/Economy/China-s-Greater-Bay-threatens-Singapore-s-finance-and-tech-status China's 'Greater Bay' threatens Singapore's finance and tech status Analysts see huge Hong Kong-Macao project siphoning business away from city-state JUSTINA LEE, Nikkei staff writer March 04, 2019 06:35 JST To stay competitive and become a "smart" city, Singapore has been investing in emerging digital technologies across various industries SINGAPORE -- China's ambitious Greater Bay Area project encompassing Hong Kong, Macao and nine cities in Guangdong could threaten Singapore's standing as a hub for finance and technology. Earlier this month, Chinese authorities unveiled their plans for the vast area, which boasts a population of 71 million and an estimated gross domestic product of $1.64 trillion. Although a concrete road map for developing the Greater Bay Area has yet to be made, the unveiling was a crucial step forward in Beijing's efforts to quell rising protectionism around the world and spark a slowing economy at home. According to economists, the project could eventually overshadow Singapore. Lawrence Loh, director of the Centre for Governance, Institutions and Organisations at NUS Business School, noted that the huge project "will definitely" have an impact on Singapore. "The geoeconomics of the new Chinese development will be formidable in its scale and scope, [creating] synergies across many industries and markets," he said. Loh added that the Greater Bay Area is also "a much bigger region," with 12 times Singapore's population and almost five times its GDP. "The main challenge for Singapore will be specifically in the finance sector and -- more broadly -- in its location as a business hub," Loh noted. Tommy Xie, head of Greater China Research at OCBC Bank, said that Hong Kong will be the first to benefit from the project. Strengthening Hong Kong's role as a global financial center and magnet for investment by China "may pose some immediate challenges to Singapore," he said. Still, rather than being put off, some Singapore companies see potential in the huge area. Lucas Loh, president of China & Investment Management at Capitaland Group, said the core growth engines, Guangzhou and Shenzhen, in the Greater Bay Area "are also part of [the company's] core city clusters in China." Capitaland has been ramping up its presence in Guangzhou over the past year, acquiring two residential sites in Zengcheng District and a mixed-use site in Guangzhou Science City, which Loh says is "a key component of China's plans to turn the Greater Bay Area from a strong manufacturing base into a science and technology hub." Shenzhen will form an important part of China's Greater Bay Area. © AP However, not all analysts think the project will damage Singapore. "Hong Kong and Singapore are global cities which tap worldwide talent pools and financial markets, so the Greater Bay Area does not really represent a marked shift in the competitive dynamic between the two," said Duncan Innes-Ker of The Economist. Innes-Ker thinks the city-state can mitigate some effects of the project by reducing barriers that prevent Singapore-based companies from operating in Southeast Asia. "ASEAN's economies are expected to expand rapidly," he said. "This should provide many opportunities for financial and professional service providers based in Singapore" To boost competitiveness, Singapore has been increasing efforts to transform itself into a "smart" nation by investing in emerging digital technologies across various industries. In fintech alone, investments in 2018 more than doubled to $365 million from a year ago, according to a recent report by Accenture. Singapore is also working on fifth-generation, or 5G, technologies. In January, Singapore Telecommunications, Ericsson and Singapore Polytechnic launched the nation's first 5G training and testing center. The partners will use the facility to develop applications for transportation, logistics, health care, manufacturing and other industries. ↡ Advertisement 2 Link to post Share on other sites More sharing options...
Jamesc Hypersonic March 5, 2019 Share March 5, 2019 Who dare to invest money there? Anytime they can just say you or your staff is a spy and detain you. 2 Link to post Share on other sites More sharing options...
Tjkbeluga 5th Gear March 5, 2019 Share March 5, 2019 (edited) So long as china continue to challenge western economy, Singapore will be the a good base for western countries. Edited March 5, 2019 by Tjkbeluga 8 Link to post Share on other sites More sharing options...
Jman888 Moderator March 5, 2019 Share March 5, 2019 why must run road? run to where? Thailand? 2 Link to post Share on other sites More sharing options...
BanCoe Hypersonic March 5, 2019 Share March 5, 2019 Topic sound like Singapore kenna or going to kenna annex by........ i dont know even who?? 2 Link to post Share on other sites More sharing options...
Celicar Turbocharged March 5, 2019 Share March 5, 2019 The PRC way of doing things is not for everybody. Tuition fees to find out is upfront. 2 Link to post Share on other sites More sharing options...
Watwheels Supersonic March 5, 2019 Share March 5, 2019 There's no law in China to protect investors. Ppl there can gang up to fraud and scam businesses and literally just get away with it. The commercial law there is non-existent. If you employ Chinese workers and they can create shell companies to scam your company. All you can do is sack them. You cannot bring them to trial or have them prosecuted for fraud. If you go there you confirm get screwed. 1 Link to post Share on other sites More sharing options...
Beregond Supersonic March 5, 2019 Share March 5, 2019 every where, every country is developing new port city and project. if we kanjiong about this, we need kanjiong every day liao 1 Link to post Share on other sites More sharing options...
Mockngbrd Supersonic March 5, 2019 Share March 5, 2019 ATB de cheesepies 1 Link to post Share on other sites More sharing options...
Lala81 Hypersonic March 5, 2019 Share March 5, 2019 Reports of our demise have been overestimated. The people will make their money there and... Still park their money here lol. Topic sound like Singapore kenna or going to kenna annex by........ i dont know even who??The country that is going to get annexed is taiwan. But it will be decades. 1 Link to post Share on other sites More sharing options...
PSP415 Supersonic March 5, 2019 Share March 5, 2019 There's no law in China to protect investors. Ppl there can gang up to fraud and scam businesses and literally just get away with it. The commercial law there is non-existent. If you employ Chinese workers and they can create shell companies to scam your company. All you can do is sack them. You cannot bring them to trial or have them prosecuted for fraud. If you go there you confirm get screwed.An MNC sacked 2 employees in China. These ex-employees sued the employer even though there were evidence of dishonesty on the ex-employees. Their court awarded their China men 4 years full gross salary to be paid by the employer. Newspapers reported on stories of CFOs, CEOs being locked and kept captive in mtg rooms etc unless pay increase and other benefits demanded by their employees are met. That dragon no longer sleeping, snoozing or dozing ah, awaken liao and very very very hungry. Cambodia, Philippines, India and even Msian are realising there's much more behind all the Chinese economic aid. Singapore is shifting its eyesight away from port business, in that the focus is realigned. Not unimportant but no longer world's busiest port. Safe ride Cheers 2 Link to post Share on other sites More sharing options...
Myxilplix Turbocharged March 5, 2019 Share March 5, 2019 Sibeh drama thread title. Link to post Share on other sites More sharing options...
Freeder Hypersonic March 5, 2019 Share March 5, 2019 https://asia.nikkei.com/Economy/China-s-Greater-Bay-threatens-Singapore-s-finance-and-tech-status China's 'Greater Bay' threatens Singapore's finance and tech status Analysts see huge Hong Kong-Macao project siphoning business away from city-state JUSTINA LEE, Nikkei staff writer March 04, 2019 06:35 JST To stay competitive and become a "smart" city, Singapore has been investing in emerging digital technologies across various industries SINGAPORE -- China's ambitious Greater Bay Area project encompassing Hong Kong, Macao and nine cities in Guangdong could threaten Singapore's standing as a hub for finance and technology. Earlier this month, Chinese authorities unveiled their plans for the vast area, which boasts a population of 71 million and an estimated gross domestic product of $1.64 trillion. Although a concrete road map for developing the Greater Bay Area has yet to be made, the unveiling was a crucial step forward in Beijing's efforts to quell rising protectionism around the world and spark a slowing economy at home. According to economists, the project could eventually overshadow Singapore. Lawrence Loh, director of the Centre for Governance, Institutions and Organisations at NUS Business School, noted that the huge project "will definitely" have an impact on Singapore. "The geoeconomics of the new Chinese development will be formidable in its scale and scope, [creating] synergies across many industries and markets," he said. Loh added that the Greater Bay Area is also "a much bigger region," with 12 times Singapore's population and almost five times its GDP. "The main challenge for Singapore will be specifically in the finance sector and -- more broadly -- in its location as a business hub," Loh noted. Tommy Xie, head of Greater China Research at OCBC Bank, said that Hong Kong will be the first to benefit from the project. Strengthening Hong Kong's role as a global financial center and magnet for investment by China "may pose some immediate challenges to Singapore," he said. Still, rather than being put off, some Singapore companies see potential in the huge area. Lucas Loh, president of China & Investment Management at Capitaland Group, said the core growth engines, Guangzhou and Shenzhen, in the Greater Bay Area "are also part of [the company's] core city clusters in China." Capitaland has been ramping up its presence in Guangzhou over the past year, acquiring two residential sites in Zengcheng District and a mixed-use site in Guangzhou Science City, which Loh says is "a key component of China's plans to turn the Greater Bay Area from a strong manufacturing base into a science and technology hub." Shenzhen will form an important part of China's Greater Bay Area. © AP However, not all analysts think the project will damage Singapore. "Hong Kong and Singapore are global cities which tap worldwide talent pools and financial markets, so the Greater Bay Area does not really represent a marked shift in the competitive dynamic between the two," said Duncan Innes-Ker of The Economist. Innes-Ker thinks the city-state can mitigate some effects of the project by reducing barriers that prevent Singapore-based companies from operating in Southeast Asia. "ASEAN's economies are expected to expand rapidly," he said. "This should provide many opportunities for financial and professional service providers based in Singapore" To boost competitiveness, Singapore has been increasing efforts to transform itself into a "smart" nation by investing in emerging digital technologies across various industries. In fintech alone, investments in 2018 more than doubled to $365 million from a year ago, according to a recent report by Accenture. Singapore is also working on fifth-generation, or 5G, technologies. In January, Singapore Telecommunications, Ericsson and Singapore Polytechnic launched the nation's first 5G training and testing center. The partners will use the facility to develop applications for transportation, logistics, health care, manufacturing and other industries. Like that also run Road???Only the rich will run.. Peasant like me no where to run.. So only can cum here kpkb.. some table wipers also cum here too.. 5 Link to post Share on other sites More sharing options...
Staff69 Hypersonic March 5, 2019 Share March 5, 2019 (edited) Reports of our demise have been overestimated. The people will make their money there and... Still park their money here lol. The country that is going to get annexed is taiwan. But it will be decades. doc, not really, damn difficult to take profit out of prc...there's a reason why soooo many restaurants has sprung out overseas ……. https://www.businesstimes.com.sg/banking-finance/chinas-capital-controls-keep-outflows-from-getting-worse https://www.china-briefing.com/news/profit-repatriation-in-china/ Edited March 5, 2019 by Staff69 4 Link to post Share on other sites More sharing options...
Inlinefour Twincharged March 5, 2019 Share March 5, 2019 Who dare to invest money there? Anytime they can just say you or your staff is a spy and detain you. Usual way is ask you to pay RMB 2 then bring you behind blindfold liao kneel down cork and fire After that harvest all organs to sell and rest of the flesh feed tigers 2 Link to post Share on other sites More sharing options...
Thaiyotakamli Supersonic March 5, 2019 Share March 5, 2019 Greater bay area long long time ago, they are there to support china market and its surrounding, wont affect us much 1 Link to post Share on other sites More sharing options...
Davidklt 6th Gear March 5, 2019 Share March 5, 2019 (edited) 10 years ago, there was a huge influx of PRC FTs in Singapore. Some Singaporeans made fun of the PRC FTs while they were here making crude remarks. But I actually told them that 10 years later, it would be Singaporeans going there as FTs taking and doing some of their lower banded jobs. And yes, we have already seen some of it happening. Example: Some of my friends in high positions in MNC report to PRC bosses in Shanghai and Beijing etc. Also, have some friends that could not find jobs or not too successful in Singapore, going to China to work. PRCs filling top level jobs in Asia Pacific roles based in Singapore. And we are also starting to see a reverse trend where Singaporean woman are marrying China PRCs. eg. Sun Xuelin, Joanne Peh. Who is having the last laugh? They dont need Singapore's economy to survive.Singapore need their economy to survive. Always be humble. Edited March 5, 2019 by Davidtkl 7 Link to post Share on other sites More sharing options...
Enye Hypersonic March 5, 2019 Share March 5, 2019 doc, not really, damn difficult to take profit out of prc...there's a reason why soooo many restaurants has sprung out overseas â¦â¦. https://www.businesstimes.com.sg/banking-finance/chinas-capital-controls-keep-outflows-from-getting-worse https://www.china-briefing.com/news/profit-repatriation-in-china/ 1.1.gif wah your second link already showed the procedure for repatriation of dividends so difficult to follow? ↡ Advertisement Link to post Share on other sites More sharing options...
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