Singapore is actively maintaining and rebuilding an open, rules-based economic order with its partners. President Shandaman believes that looking at our country's economic partners from a long-term perspective can avoid any overly absolute view of any economy and will not be overly optimistic or pessimistic.

President Shandaman said in his speech at the inauguration ceremony of the 62nd Board of Directors of the Chinese General Chamber of Commerce in Singapore on Saturday (March 15): “We are gathered together at a time when the economic clouds are shrouded, the global economic order has been weakened and the trade war is becoming more and more intense.

“This is not a short period of time. No one can predict what kind of damage this will bring to economic growth, peace and stability, and the cooperation of the world in response to various global challenges, such as climate change.”

Shandaman therefore called for preparation for long-term instability and uncertainty. “Most importantly, we must develop the appropriate capabilities and networks to build our country’s economic and social resilience to help us expand more opportunities in this challenging time.”

He suggested starting from three aspects. First, strengthen our country's international partnership. Secondly, both individuals and enterprises must work harder to accelerate the learning of advanced skills and abilities. The third is to deepen Singapore’s sense of community and sense of belonging.

Further reading

The China Chamber of Commerce's services last year benefited 15,000 companies and business participants

The China Chamber of Commerce's services last year benefited 15,000 companies and business participants

Shandaman believes that the Singapore Chinese Chamber of Commerce plays an important role in all three aspects. In terms of deepening international partnerships, he pointed out that each major economy, including China, the United States, India and Europe, faces different short-term challenges, but also has great potential advantages.

China's exports are facing challenges due to US restrictions. Its real estate market will take some time to resolve due to oversupply. But China's high-tech industry has shown amazing growth. The launch of DeepSeek and Manus not only shows that China has the ability to develop low-cost artificial intelligence technology, but also shows that China's starting companies are full of talents.

Shandaman pointed out that the General Chamber of Commerce has a long-term perspective to assist local businesses and enterprises in expanding the international market, which is worth learning. For example, the General Chamber of Commerce assisted nearly 300 companies in establishing partnerships in China and helped them meet the challenges of entering new markets.

Gao Quanqing: In the next three years, five key points will be promoted to focus on the core needs of Singapore’s business community

Gao Quanqing, who was re-elected as president of the General Chamber of Commerce, said at the inauguration ceremony that in the next three years, the General Chamber of Commerce will promote five work priorities around the core needs of Singapore's business development.

“In order to consolidate Singapore's role as a global business and trade hub and create unique investment cooperation opportunities for international investors and members of the General Chamber of Commerce, the General Chamber of Commerce plans to establish an international advisory group to invite senior leaders from international and regional political and business circles to join, providing forward-looking strategic guidance and international market insights.”

The General Chamber of Commerce will assist Singaporean companies in jointly seizing the opportunities of ASEAN's rise, including the opportunities of the Johor-Singapore Special Economic Zone, and provide more accurate and efficient support for the development of various industries.

The General Chamber of Commerce will also expand the industry coverage of its members, especially to attract members from emerging fields such as green economy, digital economy and artificial intelligence, to capture business opportunities and win-win cooperation with collective advantages.

The General Chamber of Commerce will also comprehensively expand the contact network for young entrepreneurs to cultivate a new generation of Chinese business entrepreneurs with leadership, innovation and dedication.

The 62nd Board of Directors of the General Chamber of Commerce consists of 56 directors, 11 of whom are new directors, including Li Huiling (New Press Media Co., Ltd.), Guo Yizhi (Urban Development Co., Ltd.), Chen Donghai (Singapore Manhattan Real Estate Co., Ltd.), Zhang Sile (Singapore Chartered Accountants Association) and Yao Lizhen (Fangyuan Group), etc.