To The Moon

Good news keeps coming between China and Singapore. Last week, China and Singapore agreed to mutually waive visas for ordinary passport holders. This week, according to the Chinese Ministry of Commerce website, the two governments signed a protocol to further improve the free trade agreement. The protocol mentions the promotion of cooperation between the two parties in the areas of cross-border trade in services, investment, telecommunications services, the digital economy, and other areas. In detail: About trade in services: The Protocol has upgraded concepts such as national treatment, market access, and domestic regulations and included commitments such as most-favored-nation treatment and local presence. About investment liberalization: Provisions such as national treatment and most-favored-nation treatment have been upgraded, and high-standard commitments such as prohibited performance requirements and high-level managers and directors have been included. Investment facilitation: Dispute avoidance prevention provisions have been included. Telecommunications services: Includes high-level terms such as allocation of telecommunications resources, telecommunications access and use, interconnection, number portability, resale and non-bundling of network elements. The two sides will also strengthen exchanges and dialog in the area of the digital economy: they will further promote practical cooperation in emerging areas such as electronic payments, digital identity, data flow, single window, smart city, etc. Currently, China-Singapore economic and trade relations maintain a good momentum of development, and China has been Singapore's largest trading partner for 10 consecutive years. Customs statistics show that in the first 10 months of this year, the total value of bilateral trade between China and Singapore was US$88.7 billion. Some analysts believe that the further upgrade of the China-Singapore Free Trade Agreement will create a broader market space for both countries. Question for Tigers The mutual visa exemption between China and Singapore will drive the upgrade of the free trade agreement on trade in services and further release dividends. What industries or companies do you think will benefit? Travel? Pay? hotel? trading? 🎁 Rewards: Valid comments will receive 5 Tiger Coins. The First 10 & Last 10 Commentator will receive 10 more Tiger Coins. ⏰Duration: From 13 Dec. ~ 20 Dec. (24pm EDT)