CONFIDENTIAL
6.
The areas of co-operation investigated during both Prime Minister Lee's September visit and the visit by the Singapore National Development Ministry were further explored by Gu Mu, Chinese State Councillor
Councillor in charge of
of the Special Economic Zones, during his visit to Singapore in February 1986. An agreement signed while Gu was in Singapore made provision for co-operation in the following fields:
7.
establishment of a joint committee on tourism
promotion of combined tourist packages to China and Singapore exchange of information on managing hotels, on travel agencies and tourist guides
training of personnel
airport management
simplification of travel formalities
establishment in Singapore of a permanent exhibition of
Chinese historical and cultural artefacts.
Gu Mu further expressed publicly China's interest in pursuing co-operation with Singapore in the areas of housing, urban redevelopment and public works; and identified the following as other fields having potential for co-operation:
exploration and development of natural resources factory construction and operation horticulture and animal husbandry
personnel training and skills development.
8. Major projects agreed on in 1985 involve Singaporean partici- pation in the following: hotel development projects in Peking, Shanghai, Guangzhou (Canton), Dalian and Xiamen (Amoy); involvement in warehousing, engineering, construction and maintenance services in the Shenzhen Special Economic Zone; a reconditioning plant for diesel engine spare parts in Tianjin (Tientsin); five projects involving refrigeration and air conditioning plant; and concessions to search for oil in the South China Sea.
9.
In a
new departure, the China Resources (Holdings) Company, the agent in Hong Kong of all companies managed by the Chinese Ministry of Foreign Economic Relations and Trade, has participated in its first transnational corporation. In November 1985, the company signed an agreement with Trade and Intraco Ltd of Singapore, to form the Singaporean Resources Company. The joint venture, which is based in Singapore, will promote sales of products from both countries on the world market.
10.
In banking the Overseas Chinese Banking Corporation (OCBC) of Singapore now has branches in Shanghai and Xiamen, the Overseas United Bank in Peking and Shenzhen, and the United Overseas Bank in Peking. In December 1984 OCBC was one of the four foreign banks in Shanghai allowed
take deposits and make loans in foreign currencies. The Bank of China plans to send more middle-level managers to Singapore to be trained in financial futures trading.
to
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CONFIDENTIAL
/General