On the afternoon of August 20, Yin Li, Secretary of the CPC Beijing Municipal Committee, met with Lim Boon Heng, Chairman of Temasek, Singapore.

Yin Li stated that at the Third Plenary Session of the 20th CPC Central Committee, systematic plans have been made for further deepening reform comprehensively to advance Chinese modernization, including over 300 reform measures such as economic reform, opening up, and improving the business environment. As an important window for China’s opening up, Beijing enjoys the “two zones” policies. The services sector plays a significant role in Beijing’s GDP and emerging industries like next-generation information technology, sci-tech services, and healthcare are thriving. We are committed to creating a market-oriented, law-based, and accessible business environment in keeping with international standards, generating new opportunities for both domestic and foreign enterprises investing in Beijing. Beijing encourages Temasek to leverage its strengths in the global innovation network and international capital market to enhance sci-tech exchanges and industrial investment cooperation in fields such as autonomous driving and artificial intelligence. The two sides should further economic and trade ties, providing more high-quality products and services in fintech and financial services. It is also crucial to expand cooperation in the pharmaceutical and healthcare sector, working together on pharmaceutical talent development, industry management, and public health collaboration. Beijing also seeks to strengthen education and talent cooperation to foster people-to-people exchanges.

Lim Boon Heng highlighted the tremendous growth opportunities in the Chinese market and expressed Temasek’s unwavering commitment to expanding its presence  in China and Beijing. He looked forward to maintaining close ties with Beijing to boost cooperation in areas such as the green economy, new energy, trade in services, and equity investment. Temasek will encourage more multinational companies to invest and develop in Beijing, while also supporting Chinese enterprises in going global and engaging in international cooperation and competition.

Municipal leaders Zhao Lei and Sun Shuo attended the meeting.

(Written by Gao Zhi)