华商 Chinese Entrepreneur Issue 6 2020 by Singapore Chinese Chamber of Commerce & Industry

ISSUE 6

CHINESE ENTREPRENEUR

04 专访林日耀 Interview with Jeremy Lim Jit Yaw

CHI N E S E ENTREP R E N E U R

19 财政预算案2020：新加坡出台強有力措施应对挑战 Budget 2020: Singapore’s Robust Fiscal Response

| ISSUE 6 SCCCI 2020-issue06 Cover-1.indd 2-3

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Poem Chi-hi.pdf

CMY

10/3/20

2:30 PM

卷首语 PRESIDENT’S NOTE

Combating COVID-19 as one

众志成城抗击疫情

The COVID-19 virus broke out in Wuhan, China at the end

中国武汉去年底爆发新型冠状病毒（COVID-19）。病毒以惊

of last year. It spread worldwide at an alarming rate in just

人的速度，在短短三个月如野火燎原般肆虐全球，感染人数

three months, with the number of infected cases surpassing

已超过当年的SARS。疫情来势汹汹，打乱了人们的生活节奏，对经济的冲击也

that of SARS. The outbreak disrupts routines and its economic impact

逐渐显著。总商会秉持患难与共的精神，响应我国政府援助

is increasingly showing up. Upholding the spirit of unity

中国社群抗疫。董事们在短时间内筹集了总共120万元，通

in adversity, SCCCI responded to the government’s call to

过新加坡红十字会给予支持。属下商团也捐赠了口罩、医疗

help communities in China battle the outbreak. Our Council

防护服等给本地前线医护人员。

Members raised $1.2 million in a short time, which was

政府以助商家和员工渡过难关为当务之急，在本年度的

sent forth through the Singapore Red Cross. Our trade

财政预算案中推出特别配套，协助企业周转、降低营运成

associations also donated masks and medical protective

本和工人保住饭碗，以稳定经济，维护社会安定局面。本

clothing to Singapore’s frontline medical staff.

期《华商》聚焦新加坡财政预算案以及冠病疫情对亚洲经济

Helping businesses and workers overcome difficulties is the government’s urgent task. In this year’s Budget, special

的影响，都是当前工商界普遍关注的问题，敬请参阅。本地学者、作家、诗人陈志锐博士创作现代诗《勇敢如

packages are introduced to help businesses in cash flow and

你》，致敬疫情前线医护人员，也在本期《华商》刊出。我

lower operational costs and families cope with living expenses,

相信，只要我们众志成城，就一定会打赢这一战！疫情总会

so as to stabilise the economy and maintain social security.

过去，在做好疫情防控的同时，我们也应该以危看机，储备

This issue of Chinese Entrepreneur focuses on the Budget

资源，积蓄力量，迎接寒冬后的暖春！

and the economic impact of COVID-19 in Asia, a widespread concern now among industries. Have a good read. A modern poem “As Courageous As You” by scholar, writer and poet Dr Tan Chee Lay, as a tribute to the frontline medical personnel, is also included in this issue. We believe, as long as we stand as one, we will certainly win this battle! All outbreaks will blow over. As we contain the outbreak, we should spot latent opportunities, prepare resources and build up strengths for the arrival of the warm spring after a cold winter.

华商 | C H I N E S E E N T R E P R E N E U R

SCCCI 2020 President Note v1.indd 1

会长

Roland Ng, SCCCI President

11/3/20 2:37 PM

ISSUE 6 / MAR 2020

编辑顾问

EDITORIAL ADVISORS 黄山忠 Roland Ng San Tiong 蔡其生 Thomas Chua Kee Seng 谢锦发 Chia Kim Huat 周兆呈 Zhou Zhao Cheng

CONTENTS

出版监督

PUBLICATIONS SUPERVISION 吕正扬 Lu

Cheng Yang

主编

CHIEF EDITOR 梁廷昭 Leong

Teng Chau

助理编辑

Up Close

腕表零售的时代考验 —专访高登钟表首席运营官林日耀

ASSISTANT EDITOR 明永昌 Ming

华商人物

Wing Cheong

撰稿

STAFF WRITERS

特约撰稿

Rejuvenate and Nourish: Landscaping Industry Transforms for the Future - Interview with Goh Eng Lam, Chairman of Singapore Landscape Association

CONTRIBUTORS 谢光威 Irvin Seah 全德健 Suan Teck Kin

行销

MARKETING 黄兆荣 Leonardo

财政预算案2020：新加坡出台強有力措施应对挑战

Wong

设计

DESIGN Media Group Pte Ltd

冠状病毒19：冠病疫情对亚洲经济的影响评估

PUBLISHER 新加坡中华总商会

Singapore Chinese Chamber of Commerce & Industry 9 Jurong Town Hall Road #04-01 Trade Association Hub Jurong Town Hall Singapore 609431 Tel: (65) 6337 8381 Fax: (65) 6339 0605 E-mail: corporate@sccci.org.sg Website: www.sccci.org.sg

COVID-19: Assessing Potential Economic Impact on Asia

Chinese Entrepreneur is produced and designed by Media Group Pte Ltd (Registration No. 200105565G) for Singapore Chinese Chamber of Commerce & Industry (Registration No. S61550014E). Copyright of the materials contained in this publication belongs to SCCCI. Nothing in here shall be reproduced in whole or in part without prior written consent of SCCCI and/or Media Group Pte Ltd. The views expressed in Chinese Entrepreneur by authors and contributors are not necessarily those of SCCCI and no liabilities shall be attached thereto. All rights reserved. Editorial enquiries should be directed to the Editor, Chinese Entrepreneur, Singapore Chinese Chamber of Commerce & Industry, 9 Jurong Town Hall Road, #04-01, Trade Association Hub, Jurong Town Hall, Singapore 609431. Tel: (65) 6337 8381 Fax: (65) 6339 0605 E-mail: research@ sccci.org.sg. Unsolicited material will not be returned unless accompanied by a self-addressed envelope and sufficient return postage. While every reasonable care will be taken by the Editor, no responsibility is assumed for the return of unsolicited material. MCI (P) 025/09/2019. Printed by KHL Printing Co Pte Ltd (Registration No. 197801823M).

View Chinese Entrepreneur online www.sccci.org.sg

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华商交流站

商会时讯 Moments

“聚商惠民迎金鼠” 新春大团拜

SME心声

Voice of SMEs

Lunar New Year Celebration for the Year of the Golden Rat

无人零售在新加坡萌芽离普及还有多远？

第53届悼念日本占领时期死难人民祭礼

Unmanned Retailing in Singapore: New Norm or Just a Stunt?

53rd War Memorial Service for Civilian Victims of the Japanese Occupation

援助中国抗疫捐款交接仪式

中华脉搏

China Beat Southeast Asia Holds Triple-Win Promise for Singapore and China

SCCCI SME ICC

Passing the Torch Story of SCCCI’s First Charter

Handover ceremony for donations to support China’s fight against the coronavirus

拓展东南亚市场新中合作共创三赢

薪火相传新加坡中华商务总会试办章程》的故事

Budget 2020: Singapore’s Robust Fiscal Response

出版

上网阅读电子版《华商》

热点专题 Focus

Industry Dynamics 栽培新苗供足养分：园景业以新姿迎未来专访新加坡园林协会会长吴永南

Watch Retailing in Challenging Times - Interview with Cortina Watch Chief Operating Officer Jeremy Lim Jit Yaw

张明亮 Larry Teo 明永昌 Ming Wing Cheong 陈丁辉 Tan Teng Phee

商团动态

欢迎新会员 Welcome Aboard

Chinese Entrepreneur (华商) is a bilingual publication. While the publication carries only selected articles in English, we can provide an English translation of the Chinese articles for our readers upon request.

16/3/20 9:49 AM

SME FINANCE FORUM

Global SME Finance Awards 2019

World’s Best Bank for SMEs 2019

Global SME Bank of the Year 2018 & 2019

World’s Best Bank for SMEs 2018

“DBS treats the smallest businesses as if they were corporate giants, knowing they very well may become just that in the future.”

“DBS is clearly a leading bank by international standards. The bank is an SME powerhouse and ranks without doubt among the leading SME banks in the world.”

“As with everything else at DBS, a world leader in digital innovation, automation is at the heart of the SME oﬀering.”

DBS: The world’s ﬁrst bank to hold all three global SME honours at the same time. In addition to the concurrent global best bank wins, DBS has now been recognised as the ‘World’s Best Bank for SMEs’ by Global Finance and Euromoney, as well as ‘Global SME Bank of the Year’ by SME Finance Forum. To all our partners past, present, and future, thank you for inspiring us and believing in our vision to create a better global business community.

Oct 2019

It is with your support that DBS has achieved yet another world ﬁrst.

World’s Best Bank 2019

Best Bank in the World 2018

Bank of the Year 2018

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U p C l o s e | 华商人物

腕表零售的时代考验

专访高登钟表首席运营官林日耀

WATCH RETAILING IN CHALLENGING TIMES 高

登钟表1972年创始至今，已成为亚洲备受推崇的腕表零售商，代理30多家国际知名品

Interview with Cortina Watch Chief Operating Officer Jeremy Lim Jit Yaw

牌。这门家族企业由林廷万白手起家创办，目前由林家三代人共同经营。作为第二代的林日耀，如何带领公司走向新的辉煌？对本地腕表零售行业的未来发展有什么见解？

ounded in 1972, Cortina Watch has since become a highly regarded watch retailer in Asia, appointed by more than 30 international renowned brands as their agent. Built from scratch by Anthony Lim Keen Ban, this family enterprise is currently collectively run by three generations of the Lim family. As one from their second generation, how has Jeremy Lim led the company to a new round of glory? What are his views on the future development of the local watch retail industry?

华商 | C H I N E S E E N T R E P R E N E U R

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华商人物 | U p C l o s e

高登钟表创始以来一直实现盈利，即使是在1997年爆发亚洲金融危机期间也不例外。成功秘诀是什么？

我不认为高登钟表的成功，有什么秘诀可言。名牌腕表的供应有限，但本区域消费水平提高，对名表的需求也不断增加，促使我们年复一年实现盈利，即使是在1997年爆发亚洲金融危机期间也不例外。但要说我们只是“坐享其成”也不对。高登从创始至今，经过长期积

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华商 | C H I N E S E E N T R E P R E N E U R

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U p C l o s e | 华商人物

累和不懈努力来造就良好声誉，从职员素质，到设店位置，到产品品质，一丝不苟。虽然我们不是生产商，但只要商品是在我们的门店展示，我们就要确保完好无损。面对本区域其它名牌钟表零售商的竞争，我们更要在服务方面下功夫，例如定期培训员工，他们必须按照公

高登从创始至今，经过长期积累和不懈努力来造就良好声誉，从职员素质，到设店位置，到产品品质，一丝不苟。

司设计的流程办事，确保对顾客服务周到。我们每年两三次进行突击检查，找人乔装成顾客观察员工，以发现问题和改进工作。自从推出网购平台后，我们也会经常留意网民的意见、回应网上查询的方式和速度等，力求符合顾客的期望。

Cortina Watch has always been making profits since its inception, with no exception even during the 1997 financial crisis. What is its secret formula for such an achievement?

Cortina Watch has come a long way for us to be where we are now but I do not think it is based on any secret formulas. While the production of luxury watches is relatively limited, there’s a constant increase in demand for high-end luxury timepiece driven by the higher consumption power in Singapore as well as within Asia. This upward trend in consumer’s demand has maintained a consistent growth in our business year after year, including during the 1997 financial crisis. The rising popularity of high-end luxury timepiece may have put us in a better position than some of our competitors. That being said, Cortina Watch has also worked hard to earn our reputation. From its founding

From its founding till now, Cortina has forged a good reputation by incrementally and perseveringly building on it over a long time, covering every area ranging from the quality of our staff and the locations of our shops to the condition of our merchandise.

till to date, we have continued to forge good relationship with our partners, friends, longterm clienteles. Ensuring the quality service of our staff, optimizing our boutique locations, to the curated range of our offerings. We have exercised stringent guidelines at our boutiques to ensure quality service standards to our clienteles. Apart from the regular trainings, we engage mystery shoppers to monitor our services. When we discover any shortfalls, we will do what’s needed to make improvements. The birth of our e-commerce platform has also enabled us to get closer with our customers online and enable us to gather direct feedbacks from them. This closely knitted relationship helps us to shape our structure to better tailor them to meet our customer’s expectations.

华商 | C H I N E S E E N T R E P R E N E U R

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华商人物 | U p C l o s e

与十年前相比，名表零售业有什么变化？如今，消费者可以轻易地从网上获取商品的相关资讯，也可以选择在网上购物。他们选择继续到实体店消费，为的是不一样的体验。与十年前相比，我们的顾客更重视“品牌”。他们买名表不只是冲着大牌的名气，而是想要进入这个牌子所要营造的世界。因此，我们向顾客呈献腕表的方式必须改变。我们的销售人员必须对商品了如指掌，才能从容应付“识货”顾客的不同需求，为他们提供周到的服务。但这还不够，我们还要帮助顾客体验品牌，感受到这个品牌所散发的魅力。

Compared to a decade ago, what changes have occurred in the luxury watch retail industry?

Consumers can now easily get information related to a product from the Internet and could choose to shop online. Their choice of continuing to spend in the physical shops is to seek a different kind of experience. Compared to ten years ago, our consumers are more insistent on the quality of a “brand”. They buy a watch not just for its fame but rather with the desire to enter the world that the brand conjures. Therefore, the way we present the watches to them must also change. Our salespeople must know our goods like the back of their hands, so that they could calmly meet varied demands of the savvy customers and provide them gratifying service. These however are still not enough. We must also help our customers experience the brands and feel the charms they exude.

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华商 | C H I N E S E E N T R E P R E N E U R

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U p C l o s e | 华商人物

In the face of fierce market competition, how does Cortina use technology to enhance the consumer experience? 面对激烈的市场竞争，高登如何利用科技来提升顾客的消费体验？顾客一般不会在我们的店里看到“科技”，例如利用虚拟现实技术展示商品，或由机器取代真人为顾客服务。我相信这不是我们的顾客想要看到的。我们的商品是名家设计的，而不是让顾客量身定制的，因此不需要利用科技让顾客看到不同搭配所带出的效果。我们将科技运用在后端，例如当顾客希望比较两款腕表时，我们可以迅速查出这两款腕表是否有存货，并且立即将商品交给顾客。买手表就是要感受手表戴在手上的感觉，我们认为由销售人员在旁提供“人性化” 的服务更好。

Customers generally do not see “technology” in our shops, such as using virtual reality technology to showcase our items or replacing real people with machines to serve them. I believe this is not what our customers want to see. We deploy technology to our back-end office, so that when a customer favours to compare two different watches, we can immediately check from our back-end technology if the physical stock is available, and able to present both watches for the customer to view. Buying a watch is all about wanting to know how it feels when being worn on the hand. We believe it is better to have a salesperson around to provide that “human touch”.

华商 | C H I N E S E E N T R E P R E N E U R

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华商人物 | U p C l o s e

高登在一年多前开设网购平台，这是否与“人性化”的服务理念有所冲突？

make it convenient for those customers who are really too busy as well as to attract the attention of potential customers, trying to bring them offline to come into our physical stores to view a more comprehensive range.

当你登入高登钟表的网购平台时，你会发现网站所陈列的腕表，都是我们在实体店里最畅销的几款商品。我们的原则是，不会把所有代理的商品放到网上去卖，更不会在网上卖实体店里不卖的腕表款

高登钟表如何实现“国际化”，开拓不同市场？

式。对我们而言，开设网购平台不是为了侵蚀实体店的销售，而是为那些真的太忙的顾客提供方便，以及吸引潜在顾客的注意，试图把他们带到线下，

高登目前除了新加坡，在香港、台湾、马来西亚、

踏入实体店。

印尼和泰国都有门市。要开拓海外市场，我认为克服语言和文化的不同最重要。以东南亚而言，马来西亚相对容易，因为大家都是英联邦国家，实

Cortina set up an e-commerce platform little more than a year ago. Does this conflict with your service concept of “human touch”?

施普通法，除了税制不同外，法制相差不远。泰国和印尼则不同，有自己的语言和法制传统，较难适应，所以我们会找当地的伙伴合作。当你开始较深入地了解这两个地方，你会发现两地的营商环境很不一样，顾客的期望也不尽相同。印尼顾客喜欢被宠，希望得到更贴心周到的服务。泰国顾客则比较随和，要求没那么高。我的华语不怎么样，但我哥哥的华语很好，开拓台湾市场比较得心应手。我们

When you login to Cortina’s e-commerce platform, you will find that the range of watches featured are those best-selling ones in our physical stores. Our principle is not to put all the items we are authorized to sell online, definitely not also featuring watch models which we do not already sell in our brick-and-mortar stores. To us, setting up an e-commerce platform is not meant to cannibalise the sales of our physical stores but to

15 0

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在台湾原本也有当地的合作伙伴，但后来他决定退出，我们接过来自己经营也不成问题。香港对我们而言虽然没有太多的文化障碍，但要与当地实力雄厚的企业竞争并不容易。我们 1993年进入香港市场，代理多个名表品牌，但后来决定改变策略，专注于代理百达翡丽（Patek Philippe）一个品牌。虽然市场份额变小了，但可以在这样一个竞争激烈的市场继续生存，并取得盈利，我想也是一项成就。

华商 | C H I N E S E E N T R E P R E N E U R

17/3/20 10:53 AM

U p C l o s e | 华商人物

高登目前除了新加坡，在香港、台湾、马来西亚、印尼和泰国都有门市。要开拓海外市场，我认为克服语言和文化的不同最重要。

Cortina currently has stores in Hong Kong, Taiwan, Malaysia, Indonesia, and Thailand in addition to Singapore. To expand into overseas markets, I think the most important thing is to overcome the difference in language and culture.

How did Cortina achieve internationalization and expand into different markets?

case as we are both British Commonwealth countries that apply the common law. Apart from being different in our taxation systems, the legal systems do not diverge much. Thailand and Indonesia are different, having their own language and legal tradition which are harder to adapt to. That is why we would look for local collaboration partners. When you start to deepen your understanding of these two places, you will find the two business environments very different, because their consumer expectations are also quite dissimilar. Indonesian customers like being pampered, looking to be served with greater care and attention. Thai customers are more easy-going and their demands are more manageable. My Mandarin may not be as eloquent but my brother, Raymond is. Hence he takes the realm of our expansion in Taiwan. We had a joint-venture with a local partner when we first started our business there, although he had subsequently decided to withdraw. Raymond is very familiar with the local grounds in Taiwan and business has been stable. Although Hong Kong does not have too many cultural obstacles for us, competing with the formidable companies there is not easy. We entered the Hong Kong market in 1993, appointed as the agent for many luxury watches, but later decided to change our strategy to focus on representing just one brand – Patek Philippe. Although our market share became smaller, but I think it is an achievement that we can continue to survive in such a fiercely competitive market and still make viable profits.

华商 | C H I N E S E E N T R E P R E N E U R

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17/3/20 10:53 AM

华商人物 | U p C l o s e

高级名表的市场前景如何？与大众品牌的情况有何不同？

考虑，如果要花3000元买一只大众品牌的手表，还不如多花10000元买一只高级名表。如果只是为了随时随地可以看时间，手机或智能表就够了。高级名表则不同，大多数消费者不只是从实际应用角度考虑，而是这个品牌所代表的内涵。高级名表以

我认为，高级名表的销售前景大好，反而大众手表

匠心铸就品质，经得起时间的考验，宛如艺术品一

品牌将越来越不受落。由于科技发展，普通手表

般，具有收藏的价值。这些都是一般大众品牌无法

已逐渐被其他科技产品取代。消费者也许会这样

取代的。

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华商 | C H I N E S E E N T R E P R E N E U R

17/3/20 10:53 AM

U p C l o s e | 华商人物

What is the market outlook for luxury watches? How is it different for the regular brands? I believe that the sales prospects of high-end luxury timepiece industry will still be very promising. In contrast, the lower pricerange watches will become relatively less appealing. Due to technology advancement, lower price-range watches might gradually be replaced by the latest tech gadgets. A consumer might consider spending the additional $10,000 to buy a high-end luxury timepiece than to spend S$3,000 on a lower price-range watch. High-end luxury timepiece offers brand values, the watchmaking know-how is an art of its own and has sustained through the test of time. It has unprecedented collection value that lower pricerange watches might not be able to achieve.

新加坡钟表业公会举办各类活动，希望吸引更多新会员加入。

The Singapore Clock & Watch Trade Association organised activities to attract new members.

华商 | C H I N E S E E N T R E P R E N E U R

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华商人物 | U p C l o s e

新加坡如何能够定位成为亚洲钟表交易中心？香港一向是亚洲钟表交易的重镇。直至去年10 月，香港一直是是瑞士钟表第一大出口目的地，

respectively.) Singapore can become the hub in this region serving Southeast Asia and the Oceania countries, but it is not easy to become the centre of the entire Asia. After all, Northeast Asia has a larger market, and Hong Kong enjoys greater advantage being situated closer to mainland China, Japan and South Korea.

因为受暴力示威影响和中国大陆游客访港减少的影响，这个地位才被取代。（编者按：根据瑞士钟表工业联合会2019年12月发布的报告，香港的排名下滑至第三位，落后于中国大陆和美国，日本和新加坡分别排名第四和第五。）新加坡可以成为本区域的中心，服务东南亚和大洋洲各国，

领导家族企业有什么优势和挑战？对传承家族企业的下一代有什么期望？

但要成为全亚洲的中心并不容易，毕竟东北亚有一个更大的市场，香港与中国大陆、日本、韩国在家族企业，权力集中在几位核心家族成员手中，

等距离较近，比较有优势。

决策肯定比较快。不过公司上市后，重大决策还是要经过董事会决定。这也有好处，就是有更多利益

How could Singapore position itself to become Asia’s watch trading hub?

相关者一同评估风险，以作出更明智的决定。因为是家族企业，当我们的品牌伙伴提出要求或需要协助时，我们很快就能作出反应。20年前，如果你问我加入家族企业如何时，我一定会跟你抱怨，工作时还要对着家人的痛苦。但家人也为我打开了无数的机会之门，让我少走了许多弯路，让我走得更

Hong Kong has always been a major city of watch trading in Asia. Up to October last year, Hong Kong had consistently been the number one export destination of Swiss watches. This position was taken from it as a repercussion of the violent demonstrations and the drop of visitors to Hong Kong from mainland China. (Editor’s note: according to a report of the Federation of the Swiss Watch Industry released in December 2019, Hong Kong’s ranking has slipped to third place, behind mainland China and the United States. Japan and Singapore rank fourth and fifth

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稳、更远。目前，这门生意由三代人共同经营。父亲林廷万白手起家创办高登钟表，依然活跃于公司事务，是公司的董事长。哥哥林日民和我接手，也分别有30多年和近20年之久了。如今，哥哥的孩子也加入了。我们正在为新一代铺路，正如当年父亲栽培我们那样。年轻人有不同想法，我们应该抱着开放的心态。例如，公司是否要在更多国家开拓市场？除了名表是否要尝试经营其他业务？例如，我们正在考虑是否要在台湾兼做珠宝首饰的业务。如果决定做，我们希望交给新一代负责，让他们有机会历练。

华商 | C H I N E S E E N T R E P R E N E U R

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U p C l o s e | 华商人物

华商 | C H I N E S E E N T R E P R E N E U R

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华商人物 | U p C l o s e

What advantages and challenges are intrinsic to leading a family business? What are your expectations for the next generation taking over the baton of the company?

In family business, authority is often in the hands of key family members, making the process of decision-making much faster in comparison. The company got public listed in 2002, major decisions are now managed by the board of directors, allowing more stakeholders to assess the risks together and making more informed decisions for the benefit of the company. Nevertheless, being a family-run business allows us to react fast. In cases, when our brand partners raised any requests or if there’s any need for our cooperation, we are able to quickly make a response and give our support. Which in turn, has helped us to foster stronger relationship with our partners.If you have asked me how I felt about joining the family business some twenty years back, I would certainly have said that it is challenging juggling the roles of being a company executive and as a son or a younger brother of your bosses. But my family members have also opened innumerable doors of opportunities for me, enabling me to gain better experience and knowledge in order to bring the company to the next level. There are currently three generations from our family working together in Cortina Watch. My father Lim Keen Ban founded Cortina in 1972 and is still active in the company’s affairs being

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its chairman. My brother Lim Jit Ming and I had taken over the reins for as long as more than 30 years and near 20 years respectively. Now my brother’s children have joined in. We are paving the way for the new generation, just as our father had nurtured us back in those years. Young people have different ideas and we should practise to be open-minded. For example, should we expand to

华商 | C H I N E S E E N T R E P R E N E U R

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U p C l o s e | 华商人物

您也是新加坡钟表业公会会长。可否分享一下当前公会的会务情况，以及会员对于行业发展有哪些关注点？近年来的一个趋势是许多钟表行被并购，意味着公会的会员减少。例如，酩悦·轩尼诗－路易·威登集团（LVMH）通过并购实现从无到有、从有到精，跻身世界第三大珠宝钟表集团，旗下有七个珠宝钟表品牌。斯沃琪集团（Swatch）则有17个钟表品牌。以前钟表零售商较多，但如今许多都被连锁的时间廊（City

Chain）取代。会员减少，意

味着会费收入减少，一些会务工作可能就会受到影响。我们正积极地寻找新血，包括修改章程，让与钟表业相关的行业入会，成为附属会员。另外，我们也希望吸引新一代入会。他们有些接过生意后，对公会活动不如父辈热衷，甚至认为公会是“老人俱乐部”。我们正试图改变这种印象，举办更多他们感兴趣的活动，吸引他们参加。

other regions? Should we try to venture into other businesses besides luxury watches? Should we be considering to venture into the jewellery segment in Taiwan? We hope to leave room for the younger generation to cultivate their ideas, letting them have a chance to understand the implications of decision-making for a business unit, training them to be our next leader in succession.

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华商人物 | U p C l o s e

You are also the president of the Singapore Clock & Watch Trade Association. Can you share with us how things are in the association and what are the members’ concerns about the development of the industry?

In recent years, we have seen a trend of mergers or acquisitions amongst the brands, which have in turn, resulted in the lower number of members we had with the Singapore Clock & Watch Association (SCWTA). For example, through mergers and acquisitions, the Mo¸t Hennessy-Louis Vuitton Group (LVMH) is now among the

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world’s top three Jewellery and Watch Group with 7 jewellery and watch brands under them. The Swatch Group, on the other hand, has 17 watch brands. In the past there were more watch retailers, but now many have been acquired by the City Chain who is one of the largest chain stores in Singapore. A decrease in members evidently means a drop in membership income, which would likely affect the running of the association. In order to engage the new generation, who may have an impression of SCWTA as being dated, we are organizing more activities that can relate to their age group. We would like to refresh the image of SCWTA and gain more interests from the new members, giving an opportunity for them to network and share insights with their industry peers.

华商 | C H I N E S E E N T R E P R E N E U R

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热点专题 | Fo c u s

财政预算案 20 20

新加坡出台强有力措施应对挑战

FOCUS ON BUDGET 2020 Singapore’s Robust Fiscal Response

在

日益严峻的经济形势下，政府公布了2020

年财政预算案。经历了自全球金融危机以来的最弱年度增长后，新加坡经济遭遇当前的新型冠状病毒COVID-19疫情。除了缓和经济受到的短期负面冲击，政策制定者还必须继续坚持长期经济转型。面对这些挑战，政府决定采取强而有力的财政措施。预测财政赤字将达到创纪录的 109 亿新元（GDP 的2.1%），以过去四年174亿新元的累计盈余抵消。除了为应对疫情影响采取的针对性对策，政府还出台了全面的增长战略，为经济走向未来做好准备。

谢光威

IRVIN SEAH

星展银行资深经济师

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DBS Senior Economist

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Fo c u s | 热点专题

udget 2020 was announced amid an increasingly challenging economic backdrop. Right after posting the weakest annual growth since the Global Financial Crisis, the Singapore economy is being confronted by the ongoing Covid-19 outbreak. Besides cushioning the economy from the near-term negative shocks, policymakers have continued to persevere with longer term economic transformation. Given the challenges, the government decided to go for a strong fiscal push. A record fiscal deficit of SGD 10.9bn (2.1% of GDP) is projected, absorbed by the accumulated surplus of SGD 17.4bn over the last four years. Beyond targeted countermeasures against the impact of the epidemic, broad-based growth strategies to prepare the economy for the future were introduced as well.

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应对COVID-19疫情的影响

不出所料，政府针对COVID-19疫情做出强而有力的应对。政府不仅额外拨款8亿新元以支持卫生部的一线需求，还出台了价值40亿新元的经济稳定与支援配套 (Stabilisation and Support Package, SSP)，提供有针对性且全面的经济支持。措施包括增强加薪补贴计划；企业所得税退税25%（每家企业不超过15,000新元）；租金退还和豁免，房产税退税等。政策重点是帮助企业，稳定就业。政府出台

副总理兼财政部长王瑞杰2月18日在国会发表2020年财政预算案。 Deputy Prime Minister and Minister for Finance Heng Swee Keat unveiled the annual Budget in Parliament on Feb 18.

雇佣补贴计划 (Jobs Support Scheme)，补贴 8%的工资，每月不超过3,600新元，时限为三个月。这将降低劳动力成本，从而降低疫情导致削减开支的风险。请注意，上一次SARS疫情爆发期间，失业率曾飙升至4.8%。此外，工作重点还包括确保企业在这一困难时期拥有足够的流动资金。企业融资计划 (Enterprise Financing Scheme, EFS) 流动资金部分的贷款额度翻倍，增加至600,000新元，同时政府将其风险承担从之前的 50-70% 上调至 80%。事实上，根据我们的评估，COVID-19疫情将使新加坡的GDP全年增长率降低 0.5% 。第一季度受到的影响将最为严重，GDP增长率预计同比降低0.6-0.8%。这将是自全球金融危机后的首次季度（同比）降低，严重程度超过上一次 SARS疫情的两倍。由于实施旅游禁令，旅游业（包括餐饮业）将遭受最沉重的打击，预计降低比率将达到两位数。制造、交通服务、零售和建筑等行业也将受影响，但程度相对较轻。鉴于目前的经济状况，政府也决定2021年不再继续提高消费税(GST)。相反，政府将搁置一项为期5年、价值60亿新元的定心与援助配套 (Assurance

Package)，以缓和最终增税的影

响，增税将在2025年之前进行。最终，医疗成本等经常性支出必须由经常性收入承担，这样才能

COUNTERING THE IMPACT OF THE COVID-19 OUTBREAK As expected, the government delivered a robust response to the Covid-19 outbreak. Beyond the additional SGD 800mn committed to support the Ministry of Health for frontline needs, a Stabilisation and Support Package (SSP) worth SGD 4bn was rolled out to provide targeted and economy-wide support. Measures include enhancements to the wage credit schemes; a 25% corporate income tax rebate (capped SGD 15,000 per company); rental rebates and waivers, property tax rebates etc. The policy focus is to help companies in order to safeguard jobs. A Jobs Support scheme was introduced to subsidize 8% of wages, up to a monthly cap of SGD 3,600 for three months. This will lower manpower costs and reduce the risk of retrenchments arising from the outbreak.

确保财政可持续性。在人口老龄化的背景下，消费税提高势在必行。

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黄山忠会长在《联合早报》举办的财政预算案商业论坛上，就新年度的财政预算案发表看法。 SCCCI President Roland Ng shared his views during the Budget 2020 Business Forum organised by Lianhe Zaobao.

Note unemployment rate spiked up to 4.8% during the previous SARS outbreak. In addition, emphasis was also placed on ensuring enough liquidity for companies during this difficult time. The loan quantum for the Enterprise Financing Scheme’s (EFS) Working Capital component was doubled to SGD 600,000, and the government has increased its risk undertaking to 80%, from 50-70% previously. Indeed, the Covid-19 outbreak is expected to shave off about 0.5%-pt of Singapore’s full year GDP growth based on our assessment. The impact will be most deeply felt in the first quarter and the headline GDP is expected to contract by about 0.6-0.8% YoY. This will be the first quarterly (YoY)

decline since the Global Financial Crisis, and more than twice as deep as the previous SARS outbreak. The tourism sector (including F&B) will be the worst hit due to the travel ban being imposed, and a double-digit decline can be expected. Sectors such as manufacturing, transport services, retail and construction will also be impacted, but comparatively less. The government has also decided not to proceed with the GST hike in 2021 given the current state of the economy. Instead, an Assurance Package worth SGD 6bn over 5 years will be set aside to soften the effects of the eventual tax hike, which will take place before 2025. Ultimately, recurring expenditure such as healthcare costs, would have to be covered by recurring revenue to ensure fiscal sustainability. Hikes in GST is inevitable given rising fiscal needs amid an aging population.

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热点专题 | Fo c u s

创纪录的预算

2019财年的总体预算状况好于最初分配。赤字为 17亿新元（GDP的0.3%），少于35亿新元的预算缺口。更重要的是，这使过去四个财年的累计盈余总额达到174亿新元。因此，政策制定者背靠坚实基础，有能力为2020财年出台高度扩张性预算。政府将主要赤字增加至76亿新元，旨在为企业和新加坡公民提供必要支持。由于经济前景依然疲软，收入可能只会小幅上涨，但鉴于当前情况，支出将增长约7%。为减轻新加坡公民的负担，专项转移激增44%，达到创纪录的220亿新元。国家储备净投资回报贡献 (Net Investment Return Contributions, NIRC) 预计将为186亿新元。总体而言，政府公布创纪录的109亿新元预算赤字旨在支撑经济。最重要的是，这表示极度审慎的财政政策。在经济繁荣时期努力累积财政盈余，措施使政府能够在需要时采取强而有力的财政应对。

过去四个财年的累计盈余总额达到174 亿新元。因此，政策制定者背靠坚实基础，有能力为2020财年出台高度扩张性预算。

Total accumulated surplus for the past four financial years is amounted to SGD 17.4bn. As such, policymakers are in a solid position to roll out a highly expansionary budget for FY20.

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A RECORD BUDGET Overall budget position for FY19 came in better than originally allocated. A smaller deficit of SGD 1.7bn (0.3% of GDP) was registered as compared to a budgeted shortfall of SGD 3.5bn. More importantly, this will bring total accumulated surplus for the past four financial years to SGD 17.4bn. As such, policymakers are in a solid position to roll out a highly expansionary budget for FY20. A wider primary deficit of SGD 7.6bn was allocated in order to provide the necessary support for companies and Singaporeans. Revenue is likely to rise just marginally due to a still soft economic outlook while expenditure is set to rise by about 7% given the current circumstances. Special transfers surged by 44% to a record SGD 22bn to soften the pain on Singaporeans. Net Investment Return Contributions (NIRC) is projected to register SGD 18.6bn. Overall, a record budget deficit of SGD 10.9bn was announced to buttress the economy. Most importantly, this is the hallmark of a remarkably prudent fiscal policy. The commitment to accumulate fiscal surpluses during good times has allowed the government to put forth a strong fiscal response in times of need.

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热点专题 | Fo c u s

坚持经济转型

经济转型仍然是2020年财政预算案的重要焦点。除了帮助企业和新加坡公民解决眼前问题，增强能力和提高技能也是预算的主要重点。政府将出台价值83亿新元的推动转型及发展配套 (Transformation and Growth Package)，为经济走向未来做好准备。该计划旨在推动新加坡成为全球-亚洲的技术、创新和企业节点。重点将是加强经济伙伴关系、深化企业能力和发展人力资本。新加坡将采取行动，加强其与世界各地合作伙伴之间的数字及经济联系。处于不同发展阶段的初创企业和企业也将获得针对性支持，以扩大规模和实现国际化。一些具体措施包括： • 为起新-投资 (Startup SG Equity) 再拨款 3 亿新元 • 推出 GoBusiness 平台 • 扩展中小企业数码化计划 (SMEs Go Digital Programme) • 提高市场进入资助金 (Market Readiness Assistance Grant) • 出台企业转型领袖培训计划 (Enterprise Leadership for Transformation)

需要特别提及的是，技能创前程 (SkillsFuture) 计划将进一步完善。除了对现有技能培训补助 (SkillsFuture credit) 再拨款，政府还推出了技能创前程企业补助计划，以解决可用培训类型与行业相关技能不符的问题。此外，还将实施未来技能职业中途辅助配套 (SkillsFuture Mid-Career Support Package)，帮助中年员工保住职位。但是，为了加快经济转型和支持本地员工，到 2023年，建筑业和近海与造船行业的S准证外劳顶限将从20%降至15%。这将导致劳动力成本提高，但也可能促使企业专注于提高生产率。

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PERSEVERING WITH ECONOMIC TRANSFORMATION Economic transformation remains a key focus in Budget 2020. Besides helping companies and Singaporeans cope with the immediate concerns, enhancing capabilities and upgrading of skills are some of the key thrusts of the budget. A Transformation and Growth package worth SGD 8.6bn will be introduced to prepare the economy for the future. The aim is to propel Singapore as the GlobalAsia node of technology, innovation and enterprise. Focus will be on strengthening

economic partnerships, deepening enterprise capabilities and developing human capital. There will be initiatives to strengthen the digital and economic linkages between Singapore and her partners around the world. Start-ups and enterprises at different stages of growth will also receive targeted support to scale up and to internationalise. Some of the specific measures include: • Additional SGD 300mn under Startup SG Equity • Launching of the GoBusiness Platform • Expansion of SMEs Go Digital programme • Enhancements to Market Readiness Assistance Grant • Introduction of the Enterprise Leadership for Transformation programme Specifically, the Skillsfuture scheme will be sharpened. Besides additional top-ups to the existing Skillsfuture credit, a Skillsfuture Enterprise scheme will be introduced to address the mismatch between the types of training available and skills relevant to industries. A new Skillsfuture Mid-Career Support Package will also be implemented to help middleaged workers remain employable. However, to accelerate economic transformation and support local workers, the S-pass sub-DRCs for the construction and the offshore marine sector will be lowered from 20% to 15% by 2023. While this is expected to lead to higher manpower costs, it could also potentially prompt companies to focus on raising productivity.

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SUPPORTING SINGAPOREANS AND FOSTERING AN INCLUSIVE SOCIETY

支持新加坡人，建设包容性社会

2020年财政预算案将以过去的努力为基础，继续强化社会保障体系。政府出台价值16亿新元的关怀与援助配套(Care and Support Package)，为新加坡人提供更多保障以及支付生活费用。其中一些措施包括： • 增加教育补贴，特别是对于低收入家庭 • 2020年，年满21岁及以上的所有新加坡公民将一次性获得现金奖励100-300新元 • 通过一次性消费税补助券发放双倍水电费回扣 • 将组屋杂费(S&CC)回扣再延期一年 • 帮助支付生活费用 – 为有需要的家庭提供额外的工作福利发放和杂货券 • 向百盛卡(PAssion Card)充值100新元 • 出台退休户头配对填补计划 (Matched Retirement Savings Scheme)，鼓励向公积金退休户头(CPF Retirement Account) 充值 • 改进乐龄补贴计划 (Silver Support Scheme) 的支付额度和资格标准，使更多新加坡公民受益 • 分别向社区关怀基金 (ComCare Fund)、老人护理基金 (ElderCare Fund) 和保健基

Budget 2020 continues to build on past efforts to strengthen the social safety net. A SGD1.6bn Care and Support Package has been put forth to provide more assurance for Singaporeans and to defray living expenses. Some of the measures include: • More subsidies for education, particularly for lower income families • One off cash payout of about SGD 100-300 for all Singaporeans aged 21 and above in 2020 • Double U-save rebates through a oneoff GST voucher • Extension of the S&CC rebate by another year • Help on living expenses – additional workfare payment and grocery voucher for needy families • SGD 100 top-up to Passion Card • Introduction of the Matched Retirement Savings Scheme to encourage top up to the CPF Retirement Account • Enhance the Silver Support Scheme in terms of the payout quantum and eligibility criteria to benefit more Singaporeans • Enhance social assistance schemes by topping up the ComCare Fund (SGD 500mn), ElderCare Fund (SGD 750mn) and the MediFund (SGD 200mn)

金 (MediFund) 拨款5亿新元、5亿新元和 2亿新元，增强社会救助计划

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迎合未来需求

气候变化议程也被列入2020年财政预算案。政府将拨款10亿新元，用于研究城市解决方案和可持续发展。政府还将努力，确保到2040年，所有车辆能够使用更清洁的能源。政府还将对新成立的海岸防洪基金(Coastal and Flood Protection Fund)注入50亿新元的初始资本，以解决海平面升高问题。

CATERING TO FUTURE NEEDS Climate change agenda has also been featured in Budget 2020. The government will commit SGD 1bn to research in urban solutions and sustainability. Efforts will also be made to ensure all vehicles will run on cleaner energy by 2040. An initial capital of SGD 5bn will also be injected into a new Coastal and Flood Protection Fund to address rising sea level problems.

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聚焦冠状病毒 19

冠病疫情对亚洲经济的影响评估

COVID-19 IN FOCUS Assessing impact of COVID-19 outbreak on Asian economy

在

冠状病毒 1 9（ C O V I D - 1 9 ）的全球确诊病例超过2003年确诊SARS的8096例后，世

界卫生组织（WHO）于2020年1月30日宣布该疫情为国际公共卫生紧急事件（PHEIC）。据报道，2019年末中国武汉发现冠病病例，2020年 1月中旬左右开始出现中国境外病例。随着感染病例的上升及中国农历新年的临近，中国政府于 2020年1月23日封锁了武汉，随后也对中国其他城市实行旅行限制。其他国家和地区也采取了预防措施，以限制冠病在当地人群中的传播。值得

全德健

称赞的是，中国政府和人民的这次封锁行动有效

SUAN TECK KIN

地遏制了冠病在境外的蔓延趋势。这反映在感染

大华银行环球经济与市场研究部研究主管兼执行董事

Head of Research cum Executive Director Global Economics and Markets Research United Overseas Bank (UOB)

SCCCI 2020 Focus-2.indd 30

和死亡病例大部分都在中国大陆范围内，据报道，确诊病例（截至2月6日）中只有不到1％在中国大陆以外。

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fter the confirmed cases of COVID-19 worldwide exceeded the number of 8,096 for SARS cases in 2003, the World Health Organisation (WHO) declared the outbreak a Public Health Emergency of International Concern (PHEIC) on January 30. According to reports, the COVID-19 cases were found in Wuhan of China at the end of 2019 and began to appear outside the country around mid-January this year. As the number of cases rose and the Lunar New Year approached, the Chinese government put Wuhan under lockdown on January 23 and then imposed travel restrictions

on other Chinese cities as well. Other countries and regions also took precautionary measures to curb the spread of the virus among their people. What is laudable is that the act of lockdown by the Chinese government and its people has effectively contained the potential spread of the virus beyond the Chinese borders. This is reflected in the majority number of infection and death cases from the virus occurring within the mainland Chinese territory. According to reports, confirmed infected cases (as of February 6) outside of China made up no more than 1 per cent.

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在货币政策方面，中国人民银行于2月3日将7

从SARS到冠状病毒

SARS爆发于2002年末，于2003年7月解除警报，持

天和14天的逆回购利率下调10个基点，并承诺维

续时间大约为六个月。冠病疫情于2019年末开始，

持系统流动性充足。中国人民银行还表示，将向

目前仍难以确定其将持续多长时间。但有些专家表

银行提供3000亿元人民币（约600亿新元）专项

示，感染可能在2月中旬至2020年4月达到高峰。

再贷款，用于支持受疫情影响的公司。泰国银行

若这些专家观点正确，冠病病毒的爆发可能类

（BoT）出乎意料地在2月5日将基准利率下调了25

似于SARS的轨迹，并约将持续6个月。目前，中国

个基点，至前所未有的低点1.0％，这是其在过去

大陆内外都在采取各种措施控制疾病并遏制其传

五次会议中的第三次降息。在泰国央行宣布此举之

播，这意味着经济活动将在2020年上半年受到影

前，新加坡金融管理局（MAS）于同一天早晨发表

响，之后将在2020年下半年出现“曲棍球棒”式

了“鸽派”声明，称“... 随着2019年冠病在中国和

复苏。这是我们在本报告中用于评估冠病病毒潜在

包括新加坡在内的其他国家爆发，经济状况不断恶

经济影响的基本假设。

化，新加坡元名义有效汇率在政策范围内仍有足够

SARS期间，特别是在2003年3月前后爆发的

的贬值空间。”

高峰期，消费活动受到严重打击，许多经济体呈现

在财政政策方面，新加坡和香港将分别于

“曲棍球棒”式的经济复苏曲线。2003年二季

2020年2月18日和2020年2月26日公布2020/21年

度，随着零售额和入境旅客人数大幅下降，香港、

度财政预算，有望对企业和相关部门采取一系列

台湾和新加坡的国内生产总值（GDP）出现萎缩，

救济措施。迄今为止，香港已宣布设立100亿港元

但随后的反弹完全抵消了上半年的疲软。中国大陆和泰国的经济增长在2003年上半年也出现了一些放缓，但没有其他较小的经济体那么严重。期间，印度尼西亚是东盟5国中受影响最小的国家，总体增长数据几乎没有变化。在评估冠病疫情对经济增长的潜在影响时，政府的应对也至关重要。根据SARS的经验，目前有迹象表明政府准备推出应急卫生措施，而且重要的是，亚洲地区大多数政府也有足够的财政和货币政策灵活性来缓冲经济影响。

冠病病毒的爆发可能类似于SARS的轨迹，并约将持续6个月。

This COVID-19 outbreak may be like SARS in its trajectory and will last for about six months.

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FROM SARS TO COVID-19 SARS broke out at the end of 2002 and the alert was lifted in July 2003, the duration spanning about six months. The COVID-19 outbreak began in late 2019 and it is still difficult as of now to ascertain how long it would last. But some experts say the infections may peak between mid-February and April 2020. If these experts are right in their reading, this COVID-19 outbreak may be like SARS in its trajectory and will last for about six months. Now, various measures are taken inside and outside mainland China to control the disease and curb its spread, which means economic activities would be affected in the first half of this year, after which

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（约18亿新元，占GDP的0.3%）的基金，帮助受冠病管制措施影响的企业和相关部门。韩国已宣布将从国家预算中拿出1770万美元（约2400万新元）用于防疫，而同时在抗击甲型H1N1流感病毒蔓延的台湾也表示，正在评估疫情发展情况，考虑对受影响行业和部门的采取哪些支持措施。马来西亚在SARS爆发期间提供了最广泛的一揽子财政支援计划，包括90项措施，占2003年GDP的1.7%。随着冠病疫情的发展，马来西亚也可能推出一些短期政策措施。

在冠病疫情影响下，许多企业面临困境。总商会举办论坛，邀请专家分享应对建议。 As many businesses are affected by the COVID-19 outbreak, SCCCI organised a forum and invited experts to share their recommendations on how to get through the crisis.

economic recovery would emerge like the shape of “hockey stick” in the second half of 2020. This is the basic assumption we used in this report to assess the potential economic impact of COVID-19. During the SARS period, especially its peak around March 2003, consumer-related activities were severely affected. The resurge of many economies presented a curvy shape like that of “hockey stick”. In the second quarter of 2003, with sharp declines in retail sales and tourist arrivals, the Gross Domestic Product (GDP) of Hong Kong, Taiwan and Singapore showed contraction. But their subsequent rebound completely offset their weakness in the first half of the year. The economic growth in mainland China and Thailand also went slower somewhat in the first half of 2003, but not as severely as in those smaller economies. Meanwhile,

Indonesia was the least affected among the five countries of ASEAN, with its overall growth data remaining almost unchanged. When assessing COVID-19’s potential impact on economic growth, the response of the governments was also a very important consideration. As happened during SARS, there are now signs that governments are prepared to roll out emergency health measures. And crucially, most governments in Asia also possess sufficient fiscal and monetary policy flexibility to cushion economic fallout. On the monetary front, the People’s Bank of China (PBoC) has cut its 7-day and 14-day reverse repo rates by 10 basis points (bps) on February 3 as well as pledged to maintain ample liquidity in the system. The PBoC also indicated it would provide banks a special fund of 300 billion yuan (about S$60 

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影响经济的三个主要传导渠道

到目前为止，在中国大陆之外，尚无证据表

 billion) to be used as support for companies affected by the outbreak. The Bank of Thailand (BoT) has unexpectedly cut its benchmark interest rate by 25 bpd to an unprecedented low of 1.0 per cent on February 5. This was its third cut in its last five meetings. Before the BoT announced its move, the Monetary Authority of Singapore issued a “dovish” statement on the same morning saying that “… there is sufficient room within the policy band to accommodate an easing of the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) in line with the weakening of economic conditions as a result of the outbreak of the 2019 novel coronavirus in China and other countries, including Singapore.” On the fiscal front, Singapore and Hong Kong would be announcing their Budgets for 2020/21 on February 18 and February 26 respectively, in which a series of relief measures for businesses and concerned sectors are expected to be adopted. So far Hong Kong has announced the establishment of a HK$10 billion (about S$1.8 billion or 0.3 per cent of Hong Kong’s GDP) fund to help businesses and concerned sectors affected by the control measures against COVID-19. South Korea has already announced it would take US$17.7 million (about S$24 million) from its national Budget to prevent the outbreak, while Taiwan, which is also battling the spread of H1N1 virus, said it is assessing the development of the outbreak as it considers what support measures to adopt for affected industries and sectors. Malaysia provided the most extensive package of fiscal supports during the SARS episode, which consisted of 90 measures valued to be worth 1.7 per cent of its 2003 GDP. As the COVID-19 situation evolves, Malaysia may also roll out some short-term policy measures.

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明冠病会在社区传播。因此，中国大陆之外的经济活动很可能保持不变，但由于消费者和企业会采取更加谨慎的态度，包括避免人群大量聚集、近期有前往中国大陆旅行史的人需减少聚会、采取隔离措施等，也将导致经济增长放缓，其中旅游业、运输业和零售业受到的影响最大。总体来看，这种境内因素引发的经济放缓，只要将其掌握在可控的范围内，长期不太可能使整体经济活动脱轨。更令人担心的是冠病的爆发将导致中国

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大陆的经济放缓。春节的两周内，由于封锁、限制城市之间大规模的人群流动，经济活动基本上处于停滞状态。受影响较大的城市可能在未来几周甚至几个月内将继续以远远低于产能的水平开展经济活动。总体而言，对经济的影响将通过服务业、贸易和制造业以及外商直接投资体现出来：服务业将成为影响经济的主要渠道，特别是零售、旅游、娱乐、教育和运输等行业。随着消费者信心下降和旅行限制，人员的跨境流动将有所减少。目前，东盟的游客有20%来自中国大陆（从马来西亚的11%到越南的32%不等），而香港地区来自大陆的游客则高达78%。

制造业和国际贸易将成为影响经济的次要渠道，全球供应链的断裂将使亚洲和世界各地都受到广泛影响。与2003年刚加入世贸组织时已大不相同，中国现已经成为全球的制造业中心。此外，中国自身拥有庞大的消费市场，由于城市封锁所带来的国内需求的减少也会影响贸易流通。中国已从2003年的全球第六大经济体成为全球第二大经济体，这意味着当前中国经济的任何下滑对全球的溢出效应都将比2003年更大。从东盟区域的角度看，除了区域内贸易（23%的份额）外，自2009 年以来中国一直是东盟最大的贸易伙伴（2018年占贸易总额的17%），远远领先于第二大贸易伙伴（欧元区，占贸易总额的10%）。对于东盟的个别国家来说，中国一直是最重要的进口来源地和/或出口市场。这意味着由于生产活动和供应链的断裂、与中国贸易往来的放缓，在疫情持续的情况下，东盟国家很容易受到第二轮影响的冲击。然而，估计第二轮影响对整体经济的影响具有很大的挑战性，因为这取决于疫情的发展以及各国政府相应采取的措施。外商直接投资会对经济产生第二轮影响，目前中国是许多国家（地区）最大的FDI投资国，这些投资可能会由于旅行限制和正常商业往来的延误而受到影响。然而，这种“第二轮影响”很难被评估，因为这取决于公司如何根据需求及相关部门的变化重新评估业务前景。

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THREE MAIN TRANSMISSION CHANNELS OF ECONOMIC IMPACT To date, outside of mainland China, there is no evidence suggesting COVID-19 is spreading in communities. Therefore, economic activities outside China are very likely to remain businessas-usual. But because consumers and businesses would assume a more cautious attitude, such as staying away from large crowds, requiring those with recent travel history to mainland China to reduce gathering and be quarantined, et cetera, economic growth would as a result slow down, with tourism, transport and retail being the industries most affected. By and large, this type of domestic-led slowdown is unlikely to derail overall economic activities in the long term as long as things are kept within control. What is more worrying is the economic slowdown in mainland China resulting from the COVID-19 outbreak, as activities had been essentially at a

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standstill during the two-week Chinese New Year period following lockdowns and restrictions on mass crowd movements between cities. The more affected Chinese cities might continue to operate at levels far below capacity in coming weeks and even months. All things considered, the impact on the economy will be manifested through the service sector, the trade and manufacturing industries, and foreign direct investments (FDI): The service industry will be the primary channel through which economies are affected, especially in the retail- and tourism-related, entertainment, education and transport sectors. With lower consumer sentiment and travel restrictions, people movements across borders would decrease. Currently, mainland Chinese arrivals account for about 20 per cent of all arrivals in ASEAN (ranging from 11 per cent in Malaysia to 32 per cent in Vietnam) and as high as 78 per cent in the case of Hong Kong.

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Manufacturing and international trade would be a secondary channel through which economies are affected as global supply chains are disrupted, leading to widespread repercussion in Asia and around the world. Unlike in 2003 when it had recently joined the World Trade Organisation (WTO), China has since become a manufacturing centre of the world. Moreover, with China itself being a large consumer market, reduced domestic demand from China following the lockdown of its cities will affect trade flows. China has gone from being the sixth largest economy in the world in 2003 to be the world’s second largest. This means that any downturn in contemporary China’s economy will now have a larger spillover impact on the world than in 2003. For ASEAN, other than intra-regional trade (23 per cent share), China has been the bloc’s largest trading partner since 2009 (17 per cent share of total trade in 2018), well ahead of the next largest (Eurozone with its 10 per cent share).

To individual countries in ASEAN, China has always been the most important source and/or export markets. This means that, if the viral outbreak is prolonged, ASEAN countries will be vulnerable to the second-round effect as trade flows with China slow due to disruptions in production activities and supply chains. However, estimating the impact of the second-round effects on the broader economy is a challenging task as it depends on the development of the outbreak and the corresponding measures taken by the various governments. FDI could produce a second-round impact on the economies. As China is now the top FDI investor in many countries (regions), its investments are likely to be affected due to restrictions on travel and delays in normal business contacts. However, this “second order” effect is difficult to estimate as it depends on how companies reassess their business outlook according to demands and changes in the various concerned sectors.

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对各类经济活动的影响

在中国大陆，为期一周的春节假期通常消费旺盛。2019年，春节黄金周期间的支出达到1万亿元人民币（约合1430亿美元），较2018年增长 8.5%。受冠病疫情爆发的影响，2020年春节零售销售额可能会受到严重影响。一家受欢迎的美国咖啡连锁店关闭了中国大陆近一半的门店，而美国一家大型快餐运营商表示，仅在湖北省就关闭了“几百家”餐厅。上海一处深受儿童喜爱的大型度假村自2020年1月25日起关闭，开业时间待定。受到疫情影响的亚洲经济体的所有活动（包括交易会、会议、展览、发布会等）均已被推迟/取消，包括在中国举办的两个大型交易会，上海的华东进出口商品交易会（3月1日至4日）广州的广交会（4月15日至5月5日的春季交易会），其在2019的营业额分别为23亿美元和300亿美元。根据相关估计，从2019年12月至2020年1月31日，近1万架次往返中国大陆的航班被取消。由于人员流动受到限制，一些工厂在接到各地订单后仍处于停工或是减产状态，这已经对全球供应链产生了影响。中国作为“世界工厂”，其无法恢复正常运作将对供应商和客户都将产生连锁反应。例如，一家大型欧洲飞机制造商关闭了其在天津的装配厂，原因是疫情爆发导致其业务受到物流的影响。

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IMPACT ON VARIOUS ECONOMIC ACTIVITIES To date, outside of mainland China, there is no evidence suggesting COVID-19 is spreading in communities. Therefore, economic activities outside China are very likely to remain business-as-usual. But because consumers and businesses would assume a more cautious attitude, such as staying away from large crowds, requiring those with recent travel history to mainland China to reduce gathering and be quarantined, et cetera, economic growth would as a result slow down, with tourism, transport and retail being the industries most affected. By and large, this type of domestic-led slowdown is unlikely to derail overall economic activities in the long term as long as things are kept within control. What is more worrying is the economic slowdown in mainland China resulting from the COVID-19 outbreak, as activities had been essentially at a standstill during the two-week Chinese New Year period following lockdowns and restrictions on mass crowd movements between cities. The more affected Chinese cities might continue to operate at levels far below capacity in coming weeks and even months. All things considered, the impact on the economy will be manifested through the service sector, the trade and manufacturing industries, and foreign direct investments (FDI): In mainland China, consumer spending during the week-long Spring Festival holiday is usually robust. In 2019, the 

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 spending during the Golden Week reached 1 trillion yuan, an increase of 8.5 per cent from 2018. Hit by the COVID-19 outbreak, it is likely that the Spring Festival retail sales in 2020 were badly affected. A popular American coffee chain has closed nearly half of its outlets in mainland China, while a large American fast food operator said it has closed “several hundred” restaurants in Hubei province alone. A huge resort complex in Shanghai, popular with young children, has been closed since January 25 until further notice.

由于人员流动受到限制，一些工厂在接到各地订单后仍处于停工或是减产状态，这已经对全球供应链产生了影响。

Due to restrictions on people movements, some factories have to remain shut or operate at reduced capacity even after receiving orders from various places. This is already having an impact on the global supply chains.

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All the events of the Asian economies affected by the outbreak (including trade fairs/conferences/exhibitions/launches) have been postponed/cancelled, among them two mega trade fairs in China – the East China Import and Export Commodity Fair in Shanghai (March 1 to 4) and Canton Fair (spring session from April 15 to May 5) in Guangzhou – which generated business turnover of US$2.3 billion and US$30 billion respectively in 2019. According to one estimate, nearly 10,000 flights to and from mainland China were cancelled between December 2019 and January 31, 2020. Due to restrictions on people movements, some factories have to remain shut or operate at reduced capacity even after receiving orders from various places. This is already having an impact on the global supply chains. As China is the “Factory of the World”, its inability to resume normal operations will have a knock-on effect on both suppliers and customers. For example, a large European aircraft manufacturer has shut down its assembly plant in Tianjin as its operations have been affected by logistical challenges arising from the outbreak.

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疫情对GDP的冲击评估

而需要指出的是，如果目前疫情超出我们假设的6

参照SARS疫情的情况，考虑到旅游业是第一轮影

个月，第二轮影响将更加显著。例如，在极端情况

响中最先受冲击的行业，预计相较于基准情况，

下，香港可能会面临GDP连续两年负增长这种前

大部分经济体的GDP增长约受到0.5至1.0个百分点

所未有的局面。相比之下，由于印尼拥有庞大的国

的冲击。由于香港和泰国对旅游业和中国内地游客

内基础、旅游业对经济贡献较低，该国可能仍会像

的依赖，该地区经济会面临较大的下行风险。然

SARS时期那样平稳过渡。

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热点专题 | Fo c u s

ESTIMATING DRAG ON GDP Using the SARS experience as a guide and recognising tourism-related sector as the very first to be hit by the first order effect, we estimated that the drag on our baseline GDP forecasts to be between 0.5 to 1.0 percentage point for most of the economies. Hong Kong and Thailand would face relatively larger downside risks due to their dependence on the tourism sector and tourists from mainland China. It should be noted,

SCCCI 2020 Focus-2.indd 42

however, that if the current outbreak stretches beyond our base assumption of 6 months, the second order effects will be more prominent. For instance, in an extreme circumstance, Hong Kong may face an unprecedented situation of negative GDP growth for two consecutive years. In comparison, Indonesia is likely to emerge unscathed as it had in the SARS period, given its large domestic base and its tourism sector being a smaller contributor to its economy.

华商 | C H I N E S E E N T R E P R E N E U R

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Fo c u s | 热点专题

实际GDP增长率：2019年冠状病毒的潜在影响评估

REAL GDP GROWTH: ESTIMATING POTENTIAL IMPACT FROM COVID-19

中国大陆

China

香港

Hong Kong

台湾

Taiwan

新加坡

Singapore

马来西亚

Malaysia

印度尼西亚

Indonesia

菲律宾

Philippines

泰国

Thailand

越南

Vietnam

冠病19对GDP的影响评估 (假设疫情持续6个月)

2019年

2020年（基准情景）

2019

2020 Forecast (Baseline)

Estimated % point impact on baseline GDP forecasts due to COVID-19 (assuming outbreak lasting six months)

6.1

5.7*

0.5-1.0

-1.2

1.2

0.7-1.5

2.6

0.0-0.5

0.7

1.5

0.5-1.0

4.6

4.4

0.5-1.0

5.0

5.2

0.1-0.2

6.0

6.5

0.2-0.5

2.6

2.8*

0.5-1.0

7.0

6.8

0.5-1.0

资料来源：大华银行全球经济与市场研究 *中国大陆GDP增长的基准预测于1月31日从5.9%降至5.7%，泰国GDP增长的基准预测于2月5日从3.2%降至2.8%。 Source: UOB Global Economics & Markets Research est *China’s growth was downgraded from 5.9 to 5.7 per cent on January 31 assuming outbreak peaks in April, and Thailand’s growth was lowered from 3.2 to 2.8 per cent on February 5

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热点专题 | Fo c u s

SINGAPORE: Tourists from

受到疫情冲击，樟宜机场出入境人数大幅下降。 Affected by the COVID-19 outbreak, Changi Airport suffered a sharp drop in passenger traffic.

新加坡：来自中国大陆的游客占新加坡

总游客数量的20%，受此影响，冠病可能会对新加坡的旅游相关行业产生直接影响，包括酒店相关的服务业企业（酒店、旅行社等），以及特定的服务行业，如食品和饮料、零售和交通。参照SARS时的情况，新加坡的疫情从2003年3月持续到7月。2003 年第二季度，GDP下降了0.3%，其中酒店和餐饮业下降26.8%、运输和仓储业下降 10.8%，其他服务行业下降2.3%。2003年 5月，入境旅游人数同比下降70%以上，其中中国游客同比下降90%以上。目前，冠病疫情是否会像SARS那样带来长期严重的影响，仍有待观察。根据对旅游相关活动的第一轮影响估计, 冠病预计将对新加坡的经济增长造成0.5%到1.0%的负面影响，具体取决

mainland China account for 20 per cent of Singapore’s total tourist arrivals. Due to this, the COVID-19 will likely have a direct impact on Singapore’s tourismrelated sectors. These include hospitalityrelated companies (including hotels and travel agencies), as well as certain service industries such as food and beverage, retail and transport. The SARS episode is used as a reference point, whose outbreak in Singapore lasted from March to July 2003. GDP contracted by 0.3 per cent year on year (y/y) in the second quarter of 2003, with that of hotels and restaurants falling by -26.8 per cent, transport and storage by10.8 per cent and other services by -2.3 per cent. Tourist arrivals fell by more than 70 per cent y/y in May 2003, with the number coming from China dropping by more than 90 per cent y/y. It remains to be seen if the ongoing outbreak would bring prolonged and severe impact like SARS. Based on the estimated first order impact on tourism-related activities, the COVID-19 is expected to negatively affect Singapore’s economic growth by between 0.5 and 1.0 percentage point, with exact performance determined by how severe the outbreak would be. We therefore forecast Singapore’s 2020 growth to be 1.5 per cent with potential material downside risk.

于疫情的严重程度，从而我们预估2020年增长为1.5%，存在重大下行风险。

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Fo c u s | 热点专题

泰国：冠病也将拖累泰国旅游业。2018年泰国的

境外游客中，中国游客占比最大，达27.6%。2019

年泰国旅游收入占总GDP的11.5%，而这一占比在 2009年仅为5.2%，同时旅游业为泰国提供了很多就业岗位，2019年相关占比超过16%。2003年，由于SARS疫情导致中国游客的减少，5月泰国境外游客同比减少了50%以上，全年减少7.8%。此外，SARS还影响了投资者的信心，从2003年上半年不少投资被推迟可见一斑。根据泰国旅游当局的估计，2020年中国赴泰旅游人数将降至900 万人，较2019年的1100万人减少20%，这部分经济损失相当于986亿泰铢（约40亿新元），占泰国 GDP的0.6%。

THAILAND: The COVID-19 outbreak will also be a drag on Thailand’s tourism-related sector. Chinese nationals make up the largest proportion of tourist arrivals in Thailand, reaching 27.6 per cent in 2018. Tourist receipts accounted for 11.5 per cent of Thailand’s GDP in 2019, while in 2009 these constituted only 5.2 per cent. Moreover, tourism is an important provider of employment in Thailand, accounting for over 16 per cent of jobs in 2019. When the SARS outbreak caused a drop in Chinese tourist arrivals, Thailand saw a decrease

of more than 50 per cent y/y of inbound tourists in May 2003 and a drop of 7.8 per cent in the entire year. In addition, SARS also affected investor confidence, which was evident from the delay of many investments in the first half of 2003. According to the estimates of Thailand’s tourism authorities, the number of Chinese arrivals would fall to nine million in 2020, 20 per cent lower compared to 11 million in 2019. The economic loss in the sector would translate to about 98.6 billion Thai Baht (about S$4 billion), or 0.6 per cent of Thailand’s GDP.

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热点专题 | Fo c u s

中国大陆：若冠病疫情在4月底达到峰

值，我们预计中国第一季度GDP将降至5.1%，二季度略有回升至5.6%。与 SARS相比，冠病对中国经济的影响更大。但同时SARS的经验也表明，冠病疫情之后的反弹可能将抵消一季度的大部分影响。总体而言，我们预计中国2020年全年GDP增长5.7%，比此前预测的5.9%低0.2%。如果冠病的爆发持续时间超过预期的6个月，全年GDP可能放缓至约 5.0%。我们预计，政府将会采取强有力的应对措施，抵消疫情对经济的负面影响，否则疫情爆发可能使整体GDP增速下降0.5至1.0 个百分点。目前，我们仍预计未来3-6个月内至少会再下调一次存款准备金率，年内一年期LPR也将从目前的4.15%至少下降25个基点，四季末前降到3.9%。LPR的下调有可能在2020年第一季度提前完成。

MAINLAND CHINA: If the COVID-19 cases peak by the end of April, we expect China’s GDP growth in the first quarter of 2020 to fall to 5.1 per cent y/y and rebound slightly to 5.6 per cent in the second quarter. Compared to SARS, the COVID-19 has a larger impact on the Chinese economy. However, the SARS experience suggests that the rebound post-COVID-19 may be able to offset most of the weakness in the first quarter. By and large, we are projecting that China’s full-year 2020 growth to be 5.7 per cent, 0.2 percentage point lower than the earlier forecast of 5.9 per cent. Should the COVID-19 outbreak last longer than the expected six months, the full-year overall

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growth could ease to about 5.0 per cent. We forecast that the government would adopt strong response measures to offset the negative impact of the outbreak on its economy. If this is not the case, the outbreak could potentially slice 0.5 to 1.0 percentage point off China’s headline GDP growth. For now, we are still projecting at least one more Reserve Requirement Ratio (RRR) cut in the next three to six months. The one-year Loan Prime Rate (LPR) would also edge lower by at least 25 bps from the current rate of 4.15 per cent within this year, towards 3.90 per cent before the end of the fourth quarter. There is potential for these reductions in LPR to be frontloaded in the first quarter of 2020.

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Fo c u s | 热点专题

香港：与SARS不同，香港对冠病疫情的控制

较好。考虑到其旅游业将面临的冲击，我们估计 2020年GDP增长（目前预计为1.2％）将下滑0.7-

1.5个百分点。这意味着，如果疫情在6月或7月之前结束， 2020年香港GDP可能接近零增长。2003 年，香港政府推出了总计118亿港元的SARS援助计划，包括贷款保证、减免政府收费、物业税、政府物业租金、工资退税，以及创造逾2万的短期就业机会等。此次香港政府已设立100亿港元的基金，以协助受管制措施影响的企业，并预期于2020年 2月26日公布更多的援助措施，以减低下跌风险。此前，在街头抗议活动加剧后，香港政府宣布了总计250亿港元的支持措施。这些措施加在一起约占 GDP的1.0%，可能会使2019年第四季度 GDP增长面临的阻力有所缓解。

HONG KONG: Unlike during SARS, Hong Kong has done better in containing the COVID-19 outbreak. Considering the potential impact faced by its tourism industry, we estimate that its 2020 GDP growth (our current forecast is 1.2 per cent) would fall by between 0.7 and 1.5 percentage points. This means that Hong Kong may have near zero GDP growth in 2020 should the outbreak be over some time before June or July. In 2003 the Hong Kong government rolled out a SARS relief package totaling HK$11.8 billion, which included loan guarantees, reduction of government fees, property tax and rentals in government premises, salary tax rebates and creation of more than 20,000 short-term jobs. This time the Hong Kong government has set up a HK$10 billion fund to help those affected by the control measures and is expected to announce more relief measures in its Budget 2020/21 on February 26 to mitigate the downside risks. Previously, the Hong Kong government had announced a total of HK$25 billion of support measures after the street protests intensified. Taken together, these measures were worth around 1.0 per cent of GDP and could soften the growth headwinds faced in the fourth quarter of 2019.

（编者按：本报告提及的事件，在2月6日定稿后或出现新变化。） (Note: some events in this report might have been overtaken by development as it was finalised on February 6. )

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S M E 心声 | Vo i c e o f S M E s

无人零售在新加坡萌芽离普及还有多远？

未

来的商店会是什么样？许多人都会想到 “无人商店”，这种无人收银、不用排队、

拿了就走、自动扣款的零售概念，正席卷全球，各国都争相投入开发。2017年，美国亚马逊公司推出无人商店Amazon Go之后，对无人零售市场起到了催化作用。随后，阿里巴巴集团的“盒马生鲜”在中国也发展得如火如荼。去年，新加坡的大学校园也开始出现无人商店。据悉，本地大学校园目前共有三家无人商店，均获得新加坡企业发展局（简称企发局）的支持。开设在新加坡国立大学大学城的24小时便利店OCTOBOX，售卖超过2000种商品。顾客先要设立OCTOBOX帐号，凭扫描掌纹进出商店。所有商品都有RFID标签，顾客只需将商品带到出口处扫描，并通过识别掌纹自动付款，便可把商品带走。位于新加坡科技与设计大学的Pick & Go则运用了人工智能科技。顾客同样需要先下载手机应用程序并设立账号，然后通过扫描二维码进入商店。店里的智能摄像头会实时跟踪记录顾客在店里的行为，识别他们拿起放下商品的动作。顾客从货架上拿起商品后便可直接离开，因为付款已自动从顾客的账户中扣除。

无人商店节省劳动力

Pick & Go总裁吴睿承接受《华商》采访时指出，盗窃和库存管理是经营便利店的两大问题，而智能科技能够有效处理以上问题，使“无人化”变得可能。对新加坡而言，由于人口老年化和劳工短缺，寻找员工不容易。无人商店可以24小时没有店员值守，不惟是节省劳动力的一条出路。 Pick & Go计划在未来两年多开20家分店。吴睿承说，普及无现金支付是无人商店可能蓬勃发展的前提，而近年来政府大力推动“无现金社会”，企发局也推出多项措施支持商家发展无人零售，包括补助商家购买科技、协助联系供应商、扩展人工智能的商业应用和提高公众对新零售模式的接受程度等。

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Vo i c e o f S M E s | S M E 心声

企发局零售与设计署署长杨松涧指出，无人

杨松涧指出，企发局与伙伴机构密切合作，大

便利店采用射频识别、人工智能、电子付款和智

力支持中小企业提升能力、促进创新，以及走向国

能感应器等多种科技，为零售业者提供一个人力

际。中小企业中心有业务顾问可以协助零售商提升

精简的经营方式，不单能让业者减少那些需要人

拓展业务的能力。有意进军中国市场的零售商，可

力的作业流程，还能追踪消费者的购物习惯，让

向新加坡企业中心设在上海和成都的办事处，或是

业者调整售卖货品种类以及店面布局设计，更好

新加坡中华总商会重庆代表处求助。作为本地零售

地满足消费者需求。

业者的牵头协会，新加坡零售商协会也主办多项活动和计划供本地零售商参加。新加坡纺织和时装联

企发局支持商家尝试新零售形式

无人零售模式在本地还处于萌芽阶段，是否会遍

合会也提供设计和孵化初创企业相关的计划，让初露头角的年轻零售商和设计师参加。

地开花，还需要时间去见证。企发局积极支持那些采用新的零售形式和创新技术的零售商，以创造差异化零售体验，满足顾客不断变化的需求和期望。这包括向商家提供财务支持，用以执行新概念或添购新科技；协助联系房东，以寻找合适的地点经营业务；向商家介绍由本地制造商生产的新颖创意产品，以根据不同消费者的需求，实现产品差异化。

想知道中小企业提升能力如何得到帮助？欢迎联系：新加坡企业发展局网站：www.enterprisesg.gov.sg 新加坡中华总商会中小企业中心电话：(65)63378381 电邮：enquiry@smecentre-sccci.sg

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中华脉搏 | C h i n a B e a t

SOUTHEAST ASIA HOLDS TRIPLE-WIN PROMISE FOR SINGAPORE AND CHINA The unabated trade war, ever-strengthening Singapore-China relationship and a burgeoning Southeast Asia should together translate into a significant increase in collaboration between Singapore and Chinese enterprises to tap into the growth of ASEAN. Dr Gu Qingyang of the Lee Kuan Yew School of Public Policy gave his views on why this should happen.

GU QINGYANG Associate Professor

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C h i n a B e a t | 中华脉搏

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中华脉搏 | C h i n a B e a t

ingapore and China are now presented with an unprecedented opportunity to work hand-in-glove to develop Southeast Asia, which would in turn level up their own economies if well tapped, said Dr Gu Qingyang, who studies the economic interrelations of the three entities. “Now it is the best time for enterprises of both countries to jointly penetrate the less developed markets of ASEAN,” the associate professor of the Lee Kuan Yew School of Public Policy pointed out in an interview with Chinese Entrepreneur. “But the pace would be better managed with guidance from the two governments and other well-placed supporters such as business chambers through well-formulated development and investment strategies,” added Dr Gu. China adopted the “Third-Party Market” idea in 2015, which is an extension of the Belt-Road Initiative (BRI). The BRI is China’s global development strategy implemented in 2013 which aims to carry out infrastructure development and make investments in more than a hundred countries across the world.

The East Malaysia Rail Link project was relaunched in July 2019. It was initially cancelled by Malaysian Prime Minister Mahathir Mohamad, who came to power after a shock election victory in May 2018.

SCCCI 2020 China Beat-v3.indd 52

Now it is the best time for enterprises of both countries to jointly penetrate the less developed markets of ASEAN.

But in actual practice the BRI could not cover every geographical corner. Besides, some countries are wary that it involves only Chinese state capital. So came the “Third-Party” proposition, which aims to reach otherwise outlying regions and team Chinese enterprises with compatible foreign partners.

IDEAL COMPLEMENTS Recognising that Singapore and China are complementary in many ways, Dr Gu believes incentivising enterprises of the two countries to collaborate in expansion into third-party market would produce gratifying returns for all players involved. “To start with, cosmopolitan Singapore is familiar with international business rules and knows the ways to handle international issues. Next, its brand enjoys global trust and thus makes for a good platform for Chinese enterprises to launch themselves abroad.” “If there had been a Singapore partner, perhaps China’s East Malaysia Rail Link project would not have run into bumps,” remarked Dr Gu, referring to the Malaysian mega-project that was suspended for more than a year due to suspicion of China’s agenda.

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C h i n a B e a t | 中华脉搏

China has the world’s largest manufacturing capacity, is flush with manpower and capital, and its businessmen tend to make bold speedy decision where opportunities arise.

Another virtue of Singapore business practice is the tendency to avoid rash decisions on key matters and introduce safeguards to control risks. On the other end, China has the world’s largest manufacturing capacity, is flush with manpower and capital, and its businessmen tend to make bold speedy decision where opportunity arises. The two governments have already taken steps to systematise collaboration in third-party

market at all levels, the latest being the signing of a memorandum of understanding (MOU) in April last year (2019). The agreement identifies logistics, e-commerce, infrastructure and professional services such as financial and legal services as areas for collaboration. The signing was a follow-up on an MOU inked a year earlier, which initiated the identification process and opened the way for business-matching activities.

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中华脉搏 | C h i n a B e a t

FACILITATING MECHANISMS Dr Gu proposed that going forward a range of mechanisms to facilitate resilient cooperation between enterprises should be established. These include spelling out clearly how to help planned partnerships take off; formulating guidelines for expected projects; conducting feasibility studies on identified industries as well as examining the regional and international conditions affecting them; promoting successful ventures which make good models; setting up a mediation system to settle business disputes; and providing training and skills support if needed. One reason why the China-French third-party market cooperation has proceeded largely without friction since 2015 is that most differences are duly resolved by an arbitration committee, said Dr Gu. As an example of successful partnership between Singapore and China, Dr Gu cited the New International Land-Sea Trade Corridor, a government-led project. The Corridor is a trade and logistics passage under the framework of the

A consortium representing Chinese, French and Singaporean interests recently won a $14 billion tender to develop part of Guinea’s Simandou iron ore project.

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C h i n a B e a t | 中华脉搏

China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity. Launched in 2017, it has been gaining steam as its railways and sea routes offer faster and cheaper freight transport options between western China and other countries and regions. Another viable model is co-investment, such as that by SingPower and China’s State

Grid Corporation in the Australian utility firm SP Ausnet. Yet another is a consortium representing Chinese, French and Singaporean interests that recently won a $14 billion tender to develop part of Guinea’s Simandou iron ore project. The Singapore and Chinese partners are Winning Shipping and aluminium producer Shandong Weiqiao respectively.

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中华脉搏 | C h i n a B e a t

SHIFTING CHINESE CAPITAL None of these cases are linked to Southeast Asia. Nevertheless, this region in the backyard of Singapore and China holds high promise of third-party potential, being now among the world’s top in terms of inward foreign investment, with the figure close to US$46 billion in the first quarter of 2019. “The investments come from both the West and China,” observed Dr Gu. Being shut out of the increasingly inhospitable West in the wake of the China-US trade war is

what caused Chinese investments to shift to Southeast Asia. Meanwhile, Western investments are also growing in ASEAN, with Vietnam being the top beneficiary, as producing in China has become less profitable following higher US tariffs on made-in-China imports. Since 2017, as many as 28 countries, mainly in the West, have rolled out 49 measures to restrict and monitor investments from abroad, said Dr Gu, suggesting many of these are targeted at China.

ASEAN is widely forecast to become the world’s fourth largest economy by 2030.

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C h i n a B e a t | 中华脉搏

As a consequence, fewer foreign companies were acquired by Chinese investors and lesser investment came out of China in the first half of 2019, with the respective year-on-year declines being 61.4 per cent and 8 per cent in terms of US dollar. Meanwhile, the picture was different along the BRI route as projects won by Chinese enterprises rose in value to more than US$60 billion over the same period. “It is natural that the uncommitted capital from China, finding the door of the West closed, is looking for alternatives,” said Dr Gu. As Southeast Asia absorbs more international money and grows more rapidly, a “wild geese paradigm” – a much talkedabout model in the 1980s – might re-emerge, according to the scholar. In this new paradigm, coastal China, which Dr Gu described as what ASEAN would be like when more developed, as well as Japan, South Korea and Singapore will spearhead Southeast Asia in a formation-like “flight” towards collective prosperity. In any event, ASEAN is widely forecast to become the world’s fourth largest economy by 2030, with its GDP rising to US$6 trillion from the current US$2.5 trillion. While Southeast Asia is attractive to China, there also lurk many risks which Dr Gu flagged as “untraditional”. The biggest would be from US, which might create obstacles to keep Chinese ventures away from the region.“That’s why I advocate bringing US companies on board in the hope that they would understand our motivation and realise that competition is wasteful. We could induce them to work with us for the good of the

developing countries,” stressed Dr Gu. Another risk is the periodic instability in some countries, for example Malaysia where the change of government in 2018 at the polls led to many policies being reversed. “Partnering with Singapore would take the risks notches down while generating many advantages,” noted Dr Gu. Singapore’s world-class managerial expertise and sound international knowledge coupled with China’s unbeatable efficiency in infrastructure construction and manufacturing would make a powerful combination, said Dr Gu. The scholar also highlighted the role of the recipient countries, saying only they know best what investments they need and what local resources they could make available to foreign investors.

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中华脉搏 | C h i n a B e a t

HOW AND WHERE Dr Gu suggested that a full-on partnership between Singapore and China could start by focusing on finance, professional services, urban planning, design of industrial parks, culture, and education. Public infrastructure construction, new energy, and new materials could be next. Thereafter could come logistics, tourism, project management, manufacturing, property, e-commerce, smart city, transportation, and food and beverage.

SCCCI 2020 China Beat-v3.indd 58

“One area Singapore is well-known for is training. This is what recipient countries are most keen on,” added Dr Gu. He also recommended that companies take up joint provision of services, joint bidding for construction projects, or co-investment. The most relevant service would be finding solutions for customers from the third-party market, such as serving as their agents in equipment purchase, acquisition of certificates, and legal matters. Finance is another possible sphere. Institutional lenders

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C h i n a B e a t | 中华脉搏

The joint-venture company that developed the China-Singapore Suzhou Industrial Park has raised 1.36 billion yuan in an initial public offering (IPO) in December 2019.

could come together to do co-financing, provide syndicated loans or sub-loans, and hold equity in third-party companies. “Strategic collaboration” would be the most comprehensive kind of partnership requiring detailed agreement as it encompasses a broad variety of fields including research, production and conduct of projects. While third-party market abounds with opportunities, Dr Gu cautioned that private ventures need to draw support from strong backing bodies as going it alone would be tough. The enablers might be the government, business chambers, business associations, special funds, banks, insurance companies, state-owned enterprises, government-linked companies, and other private corporations. Although Southeast Asia is nearby and an alluring market, Dr Gu suggested that Singapore companies also look to any of the 136 countries and regions that have signed BRI agreements with China. “China has met with widespread suspicion in BRI. The Third-Party Market idea is a good supplement that the recipient countries should welcome and feel at ease with,” urged Dr Gu. “The idea would convert into an ideal business practice as it would synergise companies and reduce investment cost. It is an equation of 1 + 1 + 1 that would produce a sum much greater than 3,” remarked Dr Gu.

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商团动态 | I n d u s t r y D y n a m i c s

专访新加坡园林协会会长吴永南

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I n d u s t r y D y n a m i c s | 商团动态

栽培新苗供足养分园景业以新姿迎未来

来享有“花园城市”美誉的新加坡，到处有

素

树木、花园、草坪，绿化成果显著，享誉国

际。作为这一成果的幕后功臣，本地园景业却是长期以来依赖外劳和本地非熟练劳工，对科研与开发的投入也欠缺。新加坡园景业共约300家公司，聘用约1万2000 名员工，对我国国内生产总值的贡献约0.1％。要使这个行业得到长足发展，并吸引更多本地年轻人加入，新加坡园林协会会长吴永南认为，园景业必须走向专业化和科技化。协会在今后几年将着手培养专业园艺师和育木师，并鼓励会员运用新科技，与时并进。

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商团动态 | I n d u s t r y D y n a m i c s

园景业如何为新加坡建设花园城市作出贡献？当前发展情况如何？

专业化的重要一步。园艺师对植物的特性和培植方

新加坡园景业在上世纪60年代就开始发展。政府

就如何配置园景里的各种植物提供专业意见。育木

在建国初期就意识到自然保护与绿化的重要性，

师为树木的健康把关，确保树木没有遭受蛀干害虫

不只是提升国民的生活素质，也为了吸引外资。

危害，并提出有效的防治方法，避免大树倒塌造成

早期参与绿化工作的人，大多有务农的经验。他

伤亡或不便。

法有充分的认识，能够根据新加坡的气候和土质，

们过往种植果树、种菜、花卉等，但随着农业在

新加坡园林协会和新加坡树艺协会合并后，我

本地式微，部分转而投身园景事业，为把新加坡

们将为园艺和育木领域设立本地的专业认证标准，

建设成为“花园城市”作出贡献。80年代以后，

并鼓励获得专业认证的园艺师和育木师成为协会的

随着国民生活改善，园景业也迅速发展，除了马

专业会员，为园景业的专业化贡献力量。另外，许

路和公共场所，私宅和商业大楼对园景美化的需

多人不知道儿童游乐场的维护也是园景业业务的一

求也越来越高。

部分，我们也计划设立本地儿童游乐设施的安全标

本地早在1985年就有为园艺设计专业人士设

准认证。

立的协会，另外也有国家公园局、新加坡植物园、多所高等学府和研究机构，负责植物研究、保育策略、绿化养护等工作。但专为园景业服务的新加坡园林协会迟在2001年才成立。多年来，受雇于园景公司的员工大多是非熟练劳工、老年人或外劳，从事的都是又脏又累，被视为较低层次的劳力活儿。长期以来，本地园景业也不重视科研与开发。这些因素都制约了这个行业的发展。

配合园景业转型计划，新加坡园林协会如何推进园景业发展？

国家公园局与业界去年5月推出园景业转型计划，旨在通过数码化、机械化和工作专业化，协助本地园景公司发展，让园景业在未来10年增长30%。协助园景业专业化是新加坡园林协会未来一年的工作重点，我们计划在今年五月正式宣布与新加坡树艺协会（Singapore Arboriculture Society）合并，届时将增设专业会员制（professional membership），让园艺师（horticulturist）和育木师（arborist）加入。过去，协会的服务对象是园景公司，而在这些公司工作的主要是维护园景的工人，从事割草除虫、修剪树枝、搬移植物、打扫清洁等工作。吸纳园艺师和育木师是本地园景业迈向

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为实现园景业专业化，新加坡园林协会计划与新加坡树艺协会合并，并增设专业会员制，让园艺师和育木师加入。

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I n d u s t r y D y n a m i c s | 商团动态

园景公司应善用新技术提升工作效率。

如何改善本地园景业人力短缺的情况？

新加坡园林协会积极地在世界各地寻找适合的科

本地园景业长期仰赖外劳以及老年员工不是办

技和机器，推荐给会员采用。有些器材昂贵，不是所

法，我们不得不认真研究如何通过数码化和机械

有业者都负担得起，但他们可以向政府申请补贴，分

化，以响应园景业转型计划的目标。

期付款购买。政府也可以奖励那些采用数码化和机械

以割草工人为例，几乎百分百是外劳。他们

化方案的企业；在评标时不止看报价，也把企业的科

要在猛烈的太阳底下，穿着防护衣、带着面罩工

技运用能力考虑在内。此外，我们也尝试通过其他方

作，十分辛苦。要爬上爬下修剪树木的工作，本

法减轻人力负担，例如在合适的地点，以花卉取代草

地人也不愿意干。这两类工作，我们都尽可能以

坪，或改种一些比较容易打理的树木和植物。草坪每

机器代劳。新加坡植物园已开始试用智能割草机

两周就要修剪一次，而花卉等植物每一个多月才打理

整理草坪。国家公园局也试用迷你无人机，辅助

一次也没问题。而且，修剪花圃的工作相对比割草惬

树木维护工作。

意，比较容易找到本地员工。

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商团动态 | I n d u s t r y D y n a m i c s

本地园景业如何走出国门，发展海外市场？

本地园景业发展国外市场并不容易。如果只是一般的园景维护，我们跟当地公司相比，在价格上没有竞争优势，只能是“硬碰硬”。在园景设计方面，本地一些设计师可能可以凭借他们的创意杨威国际，参与一些国际项目。另外，本地园景业也可以

我们应该加强科研的工作，放手让具备专业知识的生力军，提出如何更好地美化环境，以及拓展绿化空间的方法。

提供培训，指导海外政府机构或私人企业如何运用科技和改善工作流程，更有效率地维护园景，作为城市绿化和市容管理的重要一环。这是一个潜在商机，但前提是本地园景业需要提升专业水平。

如何鼓励年轻人加入园景业？

要吸引年轻一代加入园景业，首先必须知识化、专业化，让对园景有兴趣的年轻人有机会接受培训，成为合资格的园艺师或育木师。我们应该加强科研的工作，放手让这些具备专业知识的生力军，提出如何更好地美化环境，比如在什么地点适合种植什么品种的植物。我们也期待他们能够研究出如何进一步拓展绿化空间，比如在地铁和公路隧道里设置绿墙和园景等。政府计划从2022年起，每年培养至少350名园林管理领域专才。为了让年轻人接触更多与公园管理相关的知识和技能，公园局同工艺教育学院合作，推出园景和树木栽种相关的工作学习技术文凭课程，并且让学生管理公园，累积实际经验。他们也可以在公园里测试新科技。利用科技使园景维护的工作更加轻松，也是吸引年轻人加入的方法之一。

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I n d u s t r y D y n a m i c s | 商团动态

地员工，包括引入渐进式薪金模式（Progressive

新加坡园林协会如何协助会员迎接挑战？

Wage Model，简称PWM）等，为员工创造更好的

如果要鼓励园景公司采用新科技，就要尽可能协助他

工作条件。

们承担购买新科技的成本。目前，政府已推出园景业

如果这些方法都无效，我们还可以向政府争

生产力补贴（Landscape Productivity Grant）。我们

取更灵活地分配外劳。目前园景业的外劳比例是

会向政府争取简化申请程序，让更多企业受惠。

1比1，但我们可以按照工作性质细分类别，找

另外，许多会员还是希望我们向政府争取放宽

出哪一类别更迫切需要外劳，然后通过协商分配

外劳配额，但以目前的情况，政府让步的可能性不

资源。例如，在不影响外劳总数的情况下，可以

大。聘请更多外劳不是解决问题的唯一方法，劳资

增加割草工人的外劳比例而减少园景工人的外

政三方正在探讨各种方法如何吸引和留住更多本

劳比例。

由新加坡园林协会颁发的LIAS awards of Excellence表彰本地园景从业人员作品的质量和水平。

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商团动态 | I n d u s t r y D y n a m i c s

您在这个行业纵横多年，让您印象最深刻的园景是什么？

我在世界各地看过很多精心设计的大型园景，但让我印象最深刻的，反而是过去几年来，政府在优化行道树景观所作出的努力。过去，在公路两旁整齐的树木，已成为新加坡作为“花园城市”的标志。然而，全岛各地的行道树景观大同小异，显得单调。而最近几年新铺设的行道树，在选用树种方面更加讲究，用两种或以上的树木交错排列，高低错落，叶色相互衬托，树上星星点点的小花点缀其间，十分漂亮，给街道带来更多生气。

迷你无人机可以辅助育木师检查树木。

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I n d u s t r y D y n a m i c s | 商团动态

Supertree Grove at Gardens by the Bay in Singapore.

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薪火相传 | P a s s i n g t h e To r c h

《新加坡中华商务总会试办章程》本地华商筹备创立总商会时曾拟定一份《新加坡中华商务总会试办章程》，你知道这份文献对商会有何意义吗？它主要内容为何？如今安在？这里将告诉大家《新加坡中华商务总会试办章程》的故事。

STORY OF SCCCI’S FIRST CHARTER When Singapore’s Chinese businessmen were in preparation to establish the Singapore Chinese Chamber of Commerce (SCCC) (the original name of Singapore Chinese Chamber of Commerce & Industry, SCCCI), they drafted a provisional charter for its trial run. Do you know what is the significance of this piece of document to Chamber? What are its main contents? Where is it kept now? Here we will tell you the story of this Provisional Charter of SCCCI.

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P a s s i n g t h e To r c h | 薪火相传

华商 | C H I N E S E E N T R E P R E N E U R

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薪火相传 | P a s s i n g t h e To r c h

商会史感兴趣的人都知道《新加坡中华商务总

对

会试办章程》（下称《试办章程》）的存在，

但鲜少有人接触过这份遗落的文件。经总商会多方努力循线索追查，我们分别在美国哈佛大学图书馆和泰国国家档案馆的馆藏里找到相关文献，并成功申请到其复制件，供未来研究和展示使用。

《试办章程》的故事

rter ing

回顾历史，要从清政府指派考察商务大臣张弼士（1841-1916）前往南洋各地创设商会说起。1905 年底当张弼士来到新加坡，本地华商对设立商会的

nal ies, nd f

倡议极表认同，经六次会议的商讨，遂于1906年2

20世纪初的新加坡河。（照片由纽约公共图书馆提供。） Singapore River in the early 20th century. (The Miriam and Ira D. Wallach Division of Art, Prints and Photographs: Picture Collection, courtesy of The New York Public Library.)

月22日拟定《试办章程》，作为新加坡中华商务总会的组织章程。文献显示，《试办章程》共计12章、83条、6180 字，各章标题分别是：一曰商会宗旨、二曰定名

立案、三曰联络同志、四曰设会筹费、五曰选立会员、六曰分职任劳、七曰用人司理、八曰议事专

hip

条、九曰交涉办法、十曰利弊兴除、十一曰越规辞退、十二曰进步改良。《试办章程》的章节、条文阐明总商会设立的

目的和背景、组织结构、职能分工等要点，奠定总商会的制度规范及组织框架。《试办章程》在

an ng

“商会宗旨”就开宗明议指出本地设立商会的动机

士而有会，则士业日进。农而有会，则农务日兴。工而有会，则工艺日巧。惟商亦然，故不可以无会。会也者，乃集同道中之有德业、有才名、相与讲求利病、交换智识、以谋不协而匡救扶持者也。

在于：“士而有会，则士业日进。农而有会，则农务日兴。工而有会，则工艺日巧。惟商亦然，故不可以

ties hat

无会。会也者，乃集同道中之有德业、有才名、相与讲求利病、交换智识、以谋不协而匡救扶持者也。” 换言之，本地商会之成立，有汇聚才德兼备的商界群英、群策群力、共谋商界利益的初衷。

e from s tues n

按照“设会筹费”的规定，入会店号每年捐年费12元，个人则每年捐六元，待商会开办后，入会者无论商号或个人，除上述年捐外，另缴入会费30元；“选立会员”方面则订立帮群比例代表制，选举52位董事为代表；而“分职任劳”的部份也明确地规范了正副总理（会长）、10位协理（常务董事）和40位议员（董事）的职责和权限。

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P a s s i n g t h e To r c h | 薪火相传

nyone who is interested in the history of SCCCI knows there exists a Singapore Chinese Chamber of Commerce Provisional Charter (hereinafter referred to as the “Charter”) for the Chamber’s trial run, but few have come upon this disappeared document. After several efforts by the SCCCI to track it down, we found copies relating to it in the collections of the Harvard Library (USA) and the National Archives of Thailand, and successfully applied to reproduce them for future research and display.

THE STORY OF THE PROVISIONAL CHARTER Looking back on history, we must start from the Qing government’s appointment of Chang Pi Shih (1841-1916), its special trade commissioner, to set up Chinese Chambers in various places in the Nanyang region. When Chang came to Singapore at the end of 1905, the local Chinese businessmen agreed enthusiastically with his proposal to establish a Chinese chamber. After six meetings of discussion, the “Provisional Charter” stating the rules of SCCC was finalised on February 22, 1906. 1906年4月8日（星期日)，总商会第一次董事会议提及张弼士抵新倡议商会成立的经过和试办章程的要点。（新加坡中华总商会珍藏） April 8, 1906 (Sunday), the first council meeting of SCCC reported the arrival of Chang Pi Shih in Singapore to propose setting up a Chinese Chamber and the key points in the Provisional Charter. (Collection of SCCCI)

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薪火相传 | P a s s i n g t h e To r c h

If scholars have an association, scholarship will advance. If farmers have theirs, agriculture will flourish. If craftsmen have theirs, they will be more exquisite in their skill. The same is true too for businesses, so they cannot go without an association. Association means gathering those in the same occupation who are known to possess the virtues and abilities to work out what are beneficial and what are harmful, exchange knowledge, and reconcile differences, so as to save and support each other.

1906年《新加坡中华商务总会试办章程》复印本封面。（美国哈佛燕京图书馆特许复制） Cover of the reproduced copy of the 1906 “SCCC Provisional Charter”. (Reproduced with permission from Harvard-Yenching Library, USA)

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P a s s i n g t h e To r c h | 薪火相传

The archives show that the Charter comprises 12 chapters, 83 articles, and 6,180 characters. The respective titles of the chapters are: 1) the Mission of SCCC; 2) Definitions and Registration; 3) Connecting with the Like-Minded; 4) Membership Fee and Donation; 5) Electing Council Members; 6) Division of Work Duties; 7) Personnel Management; 8) Conventions for Meetings; 9) Negotiation Methods; 10) Promote the Beneficial and Eliminate the Harmful; 11) Dismissal for Transgression; and 12) Progress and Improvements. The chapters and articles of the Charter spell out many essential points, including the objectives and background for establishing the SCCC, its organisational structure, and the division of work duties, laying down a system of regulations and a framework for organisation. Right off under “the Mission of the SCCC”, the Charter clearly identifies what motivated the establishment of the Chamber: “If scholars have an association, scholarship will advance. If farmers have theirs, agriculture will flourish. If craftsmen have theirs, they will be more exquisite in their skill. The same is true too for businesses, so they cannot go without an association. Association means gathering those in the same occupation who are known to possess the virtues and abilities to work out what are beneficial and what are harmful, exchange knowledge, and reconcile differences,

so as to save and support each other”. In other words, the establishment of the Chamber sprang from the intention to bring together business elites who possessed the talent and virtues to brainstorm and work for the common interest of the business community. According to the rules under “Membership Fee and Donation”, the annual membership fee for companies was 12 dollars, and six dollars for individuals. Once the Chamber was under way, both individuals and companies taking up membership would have to submit another 30 dollars of registration fee on top of the annual one. As for “Electing Council Members”, a system of proportional representation by bang (dialect group) was put in place, and 52 Council Members were elected as representatives. The section on “Division of Work Duties” clearly demarcates the roles and authorities of the President and Vice President, the 10 Standing Committee Members, and 40 Council Members.

《试办章程》在“ 进步改良 ” 一章指出： “创办之初，所定章程，暂行试办，其中或有未尽妥洽之处，当改当增，应由办理人员随时公议修订。” 这使商会得以在“试办”的基础上，因应时代的需求而修订章程及其他办法，为组织保留了弹性。因此我们可以说，本地华商在1906年所拟定的《试办章程》，不仅记载着总商会在初创时期已采取系统化、制度化的组织管理办法，同时也反映了那个年代的华商智慧。这份章程呈报清廷，经商部批示后，成为东南亚其他地区商会成立时所参照的样本。职是之故，除了新加坡中华总商会，《试办章程》也是研究区域内其他商会历史的重要文献。

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薪火相传 | P a s s i n g t h e To r c h

美国哈佛燕京图书馆珍藏的《新加坡中华商务总会试办章程》影印本电子版，全文共13页。（美国哈佛燕京图书馆特许复制） The electronic record kept by Harvard-Yenching Library of a reproduced copy of the SCCC Provisional Charter, with a total of 13 pages. (Reproduced with permission from Harvard-Yenching Library, USA)

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“In the initial phase of the Chamber, the rules set out are provisionally implemented, and should there be parts which are not satisfactory, be it involving alteration or expansion, these should be amended by the designated people at open discussions” is stated in the chapter under “Progress and Improvements”. This allowed the Chamber to amend its rules and other work methods in accordance with the needs of the times and on a provisional basis, enabling the organisation to remain flexible. Therefore, it is apparent that the Charter drafted by the local Chinese businessmen in

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P a s s i n g t h e To r c h | 薪火相传

1906 not only indicates that Chamber had already adopted a systematic and regulated way of organising and management in its early days, but also reflects the wisdom of the Chinese entrepreneurs of that period. This Charter was submitted to the Qing court, and after being approved by its Ministry of Commerce, it became a model reference when Chinese Chambers were set up in other parts of Southeast Asia. This is why, besides SCCC itself, the “Provisional Charter” also stands as an important document for studying the history of other Chinese Chambers in the region.

总商会史料征集新加坡中华总商会欢迎大家捐赠史料，一起与我们保存和传承总商会的历史。您可以透过以下途径提供有关总商会的的文物资料(如旧照片、证件、佩章) 给我们，我们会尽快与您联系。

《试办章程》不仅记载着总商会在初创时期已采取系统化、制度化的组织管理办法，同时也反映了那个年代的华商智慧。

The Provisional Charter not only indicates that Chamber had already adopted a systematic and regulated way of organising and management in its early days, but also reflects the wisdom of the Chinese entrepreneurs of that period.

CALL FOR HISTORICAL ITEMS Singapore Chinese Chamber of Commerce & Industry warmly invites you to donate historical documents to help preserve and perpetuate the historical heritage of SCCCI. You may wish to provide us with more information about the Historical Documents (e.g. old photographs, certificates and badges) through the following contact: Email: history@sccci.org.sg Contact: (65) 6430 8304 Address: Singapore Chinese Chamber of Commerce & Industry (Historical Items) 9 Jurong Town Hall Road, #04-01, Trade Association Hub, Jurong Town Hall, Singapore 609431

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商会时讯 | M o m e n t s

25/1 2020

┌ 聚新商春惠大民团迎拜金鼠 ┘ 大年初一，总商会和通商中国联办新春大团拜，逾500位嘉宾齐聚裕廊镇大会堂的商团中心，共庆新春佳节。

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17/3/20 10:46 AM

M o m e n t s | 商会时讯

LUNAR NEW YEAR CELEBRATION FOR THE YEAR OF THE GOLDEN RAT On the first day of the Lunar New Year, SCCCI and Business China jointly held the annual New Year gathering, bringing together more than 500 guests to celebrate the festival at the Trade Association Hub auditorium.

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商会时讯 | M o m e n t s

15/2 2020

第时 53 期届死悼难念人日民本祭占礼领

53rd WAR MEMORIAL SERVICE FOR CIVILIAN VICTIMS OF THE JAPANESE OCCUPATION

祭礼一如既往在

The War Memorial Service was held at the War Memorial Park at Beach Road. In view of the COVID-19 outbreak, the scale of this year’s memorial service was reduced; there was a turnout of around 90 participants.

美芝路日本占领时期死难人民纪念碑公园举行。由于疫情，今年仪式规模缩小，约90人参与。

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M o m e n t s | 商会时讯

17/2 2020

援捐助款中交国接抗仪疫式总商会发动本地华商群体慷慨解囊，为受冠状病毒疫情影响的中国社群筹募超过 130万新元。在到场嘉宾的见证下，黄山忠会长将筹集

HANDOVER CEREMONY FOR DONATIONS TO SUPPORT CHINA’S FIGHT AGAINST THE CORONAVIRUS

所得交于新加坡红十字会。

In its mobilisation for donations by Singapore’s Chinese business community, SCCCI raised more than $1.3 million for communities in China affected by the COVID-19 outbreak. Witnessed by the guests present, SCCCI President Roland Ng handed the collected sum to the Singapore Red Cross Society.

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欢迎新会员 W E L C O M E A B OA R D ( N o v e m b e r ’ 19 - F e b r u a r y ’ 2 0 ) Member Company ALUPUTER INDUSTRIAL PTE LTD ALZ PTE LTD ANGELCENTRAL PTE LTD APRICOT CAPITAL PTE LTD ARIS INTEGRATED MEDICAL PTE LTD ARKIVA PTE LTD BETTER MAID EMPLOYMENT AGENCY CATHODIC PROTECTION TECHNOLOGY PTE LTD CHANG RUN PTE LTD CHOW WING SUM, FIONA CHYE THIAM MAINTENANCE PTE LTD CLSA SINGAPORE PTE LTD COMMERCIAL ENGINEERING PTE LTD COMPONENT TECHNOLOGY PTE LTD CROWNE PLAZA CHANGI AIRPORT DHDECO PTE LTD DIGITAL PRAPTI PTE LTD DING XIN DISTRIBUTED LEDGER TECHNOLOGIES (DLT) PTE LTD EBENEZER NDT SERVICES PTE LTD ENGAGEROCKET PTE LTD FIDELIUM INTERNATIONAL FUCHSIA LANE PTE LTD G5M PTE LTD GS INVESTMENT & CONSULTANCY PTE LTD GUARDIAN INDEPENDENT CERTIFICATION PTE LTD HAPPY FISH SWIM SCHOOL PTE LTD HE YING HOERBIGER KT ASIA HOLDING PTE LTD HOOVER MELAMINE INDUSTRIES PTE LTD ISABELLA AESTHETICS PTE LTD JEDTRADE PTE LTD KEYQUEST VENTURES PRIVATE LIMITED KOH KAI XIN, CLAIRE LAUGHING KOOKABURRA’S CORNER PTE LTD LEXAGLE PTE LTD LI XIANG LIM SOK LEE LIM TING XUAN, LYNETTE LIN CHUN MENG LOO MENG GEE LOW CHER SENG LOW JIN EN, EDWIN MICHELLE CHUA MILESTONE SYSTEMS PTE LTD MINTEREST PRIVATE LIMITED MODERN BEAUTY SALON (S) PTE LTD MOK HENG WAH MOMENTSCREATIVES PTE LTD NG JIA WEN NG LI YONG ONG SING CONSULTANT PTE LTD ONG YEE CHING, CHERYL ORIENTAL ECOLOGICAL HEALTH & TECHNOLOGY PTE LTD ORITA SINCLAIR SCHOOL OF DESIGN AND MUSIC PTE LTD PATRICK CHER PAW LECK ENGINEERING PTE LTD PHANG WEI LUN, AARON PINE GARDEN’S CAKE PTE LTD POWERMARK BATTERY & HARDWARE TRADING PTE LTD RAINTREE55 PTE LTD RRESOLVE PTE LTD RUN QI SARAWAK TRADE & TOURISM CO PTE LTD SEAN KUAN THYE SIA JING HENG SINGAPORE GANGRUI CURTAIN TRADING PTE LTD SINGAPORE JOBS & EDU SERVICES PTE LTD SINGAPORE VALVE & FITTING PTE LTD SINGTEL INNOV8 VENTURES PTE LTD SMBC NIKKO SECURITIES (SINGAPORE) PTE LTD SUNITA KAUR GILL SWA YONG HOU SYD TECHNOLOGY PTE LTD SYNTECH SWITCHGEAR & ENGINEERING PTE LTD TAN ENG SENG TANG PEI YAN, JOANNE THE EVENTS STORE PTE LTD THE SAVOURY NOSH PTE LTD THIA SHI YI, CATHERINE TOONG SOO WEI TOP INTERNATIONAL HOLDING PTE LTD U CONNECTIONS PTE LTD UNITED POINTS HOLDINGS PTE LTD VENUERIFIC PTE LTD VISIONTECH PTE LTD WILDTYPE MEDIA GROUP PTE LTD XIN RAN OVERSEAS PTE LTD Y & H RENOVATION PTE LTD YI CHEN INTERNATIONAL PTE LTD ZHAI ZIHAN ZHANG YUAN ZHOU SHI CULTURE DESIGN & CONSTRUCTION PTE LTD

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Business Representative MS MR MS MR DR MR MR MR MR MDM MR MR MR MR MR MR MR MR MR MR MS MR MDM MR MR MR MR MS MS MR MS MS MR MS MR MR MR MS MS MS MDM MR MR MS MR MS MS MR MR MS MR DR MS MS MR MR MR MR MR MR MS MS MDM MR MS MR MR MR MR MR MR MS MR MS MR MR MS MR MR MS MR MR MR MR MR MR MDM MR MDM MS MR MS MR

MONICA LIM FU HO HUANG SHAO-NING DARREN TEO DAVID CHEW TOH CHING HSIEN MARCUS PEH TAN CHEONG PIN LENG KE FIONA CHOW EDY TAN ANDREW HARTLEY CLIVE GOH CHUNG KUM PANG STEVEN SU HENRY CHOO MANOHARAN JOHN SAMUEL DING XIN GEETHA PRADEEP KUMAR LAWRENCE KIM DOROTHY YIU PAUL LIM VIVIENNE LIN BENJAMIN SERN LIANG HUI CHEW KWANG JOO TAN JIAN YONG HE YING LIM HONG HIONG, EVELYN GLEN ANG JANE TAN DAPHNE NG TOH WEI JIE CLAIRE KOH GAVIN PAH TAN JOON MENG LI XIANG LIM SOK LEE LYNETTE LIM LIN CHUN MENG LOO MENG GEE LOW CHER SENG LOW JIN EN, EDWIN MICHELLE CHUA MERVYN KOH LIAU SHUNG YUEN JOYCE TSANG MOK HENG WAH LEA JUN HONG BRYAAN ISAAC NG JIA WEN NG LI YONG JENNIFER ONG CHERYL ONG HUANG YAN, JUDY FOO SEE MENG PATRICK CHER WAYNE WEE AARON PHANG CHAN WEI NG SHI XUAN SHI YONGQING PEK WAN JUAN YANG JUAN CHEW CHANG GUAN SEAN KUAN THYE SIA JING HENG TONG YIGANG BRUCE LEE CAI ZHUOHAN LAU YIN CHENG BRIAN LOO SUNITA KAUR GILL SWA YONG HOU ZHANG LIPING BENJAMIN ANG TAN ENG SENG JOANNE TANG NOEL GOH ZAC CHUA CATHERINE THIA TOONG SOO WEI VICTOR TAN NG HOCK CHUAN VINCENT LI RICARDO SENTOSA LIM HUI JIE JULIANA CHAN LIU BIN ZHUO YUHUA ZENG ZHEN ZHAI ZIHAN ZHANG YUAN ZHOU LANG

Designation

Business Nature

Business Development Director Chief Partner Managing Partner Managing Director Director Manager Chief Executive Officer General Manager Grading Specialist Chief Executive Officer Chief Executive Officer Manager Managing Director Director of Sales and Marketing Managing Director Director

Manufacturing Wholesale & Retail Trade Others Others Others Professional, Business & Technical Services Others Manufacturing Wholesale & Retail Trade

Human Resource Manager Chief Executive Officer Co-Founder Executive Chairman Director Managing Partner Director Chief Executive Officer Managing Director General Manager Head of People & Culture, Singapore Business Development Manager Director Executive Director Director Associate Division Director Owner Co-Founder Lead Aerospace Auditor

Professional, Business & Technical Services Construction Information & Communications Professional, Business & Technical Services Manufacturing Professional, Business & Technical Services Others Others Education

Student Regional Secretary General Managing Director

Not Applicable

Retail Assistant Manager Assistant Vice President Business Development Manager Director Founder Director Director Assistant Manager Director Director Chief Executive Officer Sales Director Chief Executive Officer Senior Associate Director Manager Sales Engineer Managing Director Manager Director Executive Director President Chief Executive Officer Managing Director Student Director Managing Director Managing Director Head HR Group Digital Life Managing Director Founder & CEO Senior Group Division Director Director Director Estate Planner Director Founder Account manager General Manager Chief Executive Officer Director Chief Executive Officer Director Chief Commercial Officer Chief Executive Officer General Manager Director Director Student Relationship Manager Director

Others Finance & Insurance Construction Manufacturing Tourism & Hotels Manufacturing Information & Communications

Professional, Business & Technical Services Manufacturing Others Professional, Business & Technical Services Finance & Insurance Manufacturing Information & Communications

Business & Technical services Information & Communications Others Others Professional, Business & Technical Services Professional, Business & Technical Services Real Estate Others Education Manufacturing Food & Beverage Services Manufacturing Education Others Others Others Not Applicable Wholesale & Retail Trade Professional, Business & Technical Services Others Information & Communications Finance & Insurance Information & Communications Manufacturing Manufacturing Food & Beverage Services Others Manufacturing Others Information & Communications Information & Communications Information & Communications Education Manufacturing Professional, Business & Technical Services Not Applicable Others

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11/3/20 2:37 PM

Poem Eng-hi.pdf

CMY

12/3/20

2:37 PM

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10/3/20 3:33 PM