Inaugural FutureChina Youth Forum

Ms Low Yen Ling, CEO of Business China,
Speakers and participants,
Ladies and Gentlemen,

1. I am very happy to be here glad that I came in early and got the chance to catch some of the very rich discussions that were shared earlier with the panellists. I am sure all of you have had a fruitful session.
   

2. If you are here at this Forum, it probably means that you already have some interest in China, especially for our young students who would like to get involve in China in the future. So perhaps my question to you is what happens after this event – why does China matter to you? Why should you continue to care about China?  How does it affect you and your future? It is something for you to reflect on individually. But perhaps I would share some perspectives.
   

3. First, the rise of China is the biggest story of our time, and will probably continue to be so in your generation. China has been growing dramatically ever since it opened up in the 80s. It is now the world’s second largest economy, and the top trading partner of many Asian countries. China’s growing weight and influence is shifting the global scales, and the impact can be felt all across our region.
   

4. All this is creating tremendous opportunities for entrepreneurs and businesses. I visited Sichuan province recently, and could see how quickly the entire province is changing and progressing rapidly. The capital city, Chengdu, is changing every time I visit, and it is becoming more and more like a modern cosmopolitan city. The second-tier and third-tier cities within Sichuan itself, like Luzhou and Mianzhu, are slightly behind in terms of development (compared to Chengdu), but they are hungry and eager to catch up, bring in new investments and jobs, and improve the lives of their citizens. The people there are also eager to improve themselves by learning and speaking in English, and that is a new China that is emerging.
   

5. A major plus for us is that the Singapore brand commands a premium in China. They admire what we have achieved and see us as a model for their own development. We tell them that compared to China, Singapore is like a bonsai next to an ancient oak tree – we are too small to be of general relevance. We could take pride that we have succeeded when others said that they want to learn from us, but I think we should remain humble. But nevertheless, it is a fact that they do see similarities between us as we are of Chinese origin and there is a genetic similarity even though culturally we may be different. They are very keen to tap on our expertise and experience as partners and investors.
   

6. The fact that we share common cultural roots and language is a significant factor. This has enabled many young Singaporeans to study in China, be it on exchange programmes or on a full-time basis or even post-graduate programme. Take for example Mr James Tan, who has been in China for more than a decade. He started by going to the Tsinghua-MIT MBA programme at Tsinghua University.  Today, he is the founder and managing partner of Quest VC, a venture capital firm, with offices in Beijing and Singapore. He is also the co-founder of 55tuan, one of the largest social e-commerce sites in China with 5,000 employees across 200 cities. We have young Singaporeans like him who have studied there, continued to do business in China and have succeeded and doing well.
   

7. In my visit to Sichuan, I brought a business delegation with me. Nearly all the businessmen could speak Mandarin, enabling them to establish rapport with the Chinese officials as they explained their projects. So that gives us a considerable advantage in China. This is so even for someone like me who grew up in an English-speaking home environment. I did not do Higher Chinese in school, but the years of learning Mandarin has given me a good foundation. And that gives me enough confidence to interact freely with my counterparts in Mandarin without having to go through interpreters all the time. And the ability to converse in Chinese in China is a big help to establish rapport with whoever you engage with.
   

8. This brings me to my second point, which is that knowledge of China helps us understand our past. We are growing our own Singaporean culture, one that is uniquely Singaporean, and this is an important long-term endeavour for us as we build our nation. But as a Chinese, our roots can be traced back to ancestral cultures which go back thousands of years. And these are very deep roots. Our Singaporean culture is young as we are barely 50 years as a nation. But our ancestral roots are thousands of years. Understanding these cultural roots enables us to appreciate and understand who we are and where we came from.  It opens up a whole world of Chinese art, culture and traditions, which spans thousands of years of Chinese civilisation.
   

9. With growing prosperity, there has been a resurgence of interest in art and culture within China itself. Museums are opening at an incredible pace. For the past few years, China has opened about 100 museums each year; in 2011 alone, 400 were built! China’s art – be it in paintings, sculptures, music, literature, or film – is growing and reaching out to new audiences both locally and abroad.  Just to illustrate how far things have evolved – a decade ago, very few people watched China’s TV dramas; today they are popular in countries all over the region, including in Singapore, and they are giving our own MediaCorp drama series a good run for the money. It is a reflection of how their art and culture are evolving and becoming more sophisticated. China’s artists are also getting international acclaim – movie directors like Chen Kaige, Zhang Yimou and Ang Lee are now household names even in America, while Chinese author Mo Yan received the Nobel Prize for literature last year. So China is growing not just in economy, not just in science and technology but also in art and culture. And I think the art and culture part is important as we do share cultural links and our ancestral roots can be traced back to Chinese civilisation.
   

10. Finally, getting involved in China is a way to contribute and participate in something bigger than ourselves and our country. It is about a sense of empathy, social consciousness and shared responsibility. We saw this when the massive earthquake struck Sichuan province in 2008. There was a spontaneous outpouring of compassion and support from the Chinese people, and also from people all over the region, including many people in Singapore.
    

11. It’s not just during crisis periods that Singaporeans chip in. Many do so quietly in their own way, through different avenues. We saw earlier two Singaporeans doctors who have done us proud with their contributions to both countries. Dr Tan Lai Yong and his family moved to Yunnan in 1996 to help the less-fortunate people in remote villages. There, he established the social and humanitarian network between the Singaporean and Chinese medical communities. This network has continued to grow and benefit both countries, and for his contributions, the Chinese government conferred him the “Friendship Award”. Dr Loh Cheng, following in Dr Tan’s footsteps, also relocated to China in 2008 to provide medical education and clinical services to the underprivileged. Outside work, he volunteers at a free clinic. For his exemplary contributions towards Singapore-China relations, Dr Loh was presented the Business China Young Achiever Award last year. These are two very solid examples of young Singaporeans who have contributed and made a difference.
    

12. Likewise, I am glad to note that many of our youths have also participated in overseas community service projects to China, teaching English, refurbishing facilities, building infrastructure and practising environmental conservation. All these things remind us that the ultimate purpose of what we are doing is about our responsibility towards our society and our fellow citizens. I hope that through these exchanges, we can develop mutual understanding and cement our close relationship with China. So even as you look at the exciting opportunities in China, don’t forget to give back to society. Consider how you can contribute to something bigger than yourself, and make a difference in the lives of others.
    

13. In conclusion, I would strongly encourage all of you to think hard about how China matters to you and make full use of the programmes offered by Business China and other government agencies to immerse yourselves fully in China. If I can have a chance to redo my education again, I would certainly spend some time in China. For students who are thinking of progressing in your studies, think about how you can spend your time in China, soak up the experience, learn the culture, understand their societal norms and expectations, and make an impact. I hope that this Forum has been a good learning experience, and I wish you all the best for your future endeavours.
    

14. Thank you very much.