[Note to Editors:  Attached below is a revised Mandarin translation of the speech.  Please ignore the earlier copy sent].  English speech is unchanged.]

Your Excellency Premier Wen,

Distinguished guests,

Ladies and Gentlemen

1.            Let me extend a very warm welcome to Premier Wen and his delegation to Singapore.  I am glad to have this opportunity to reciprocate the warm hospitality I received during my first official trip to China in 2005 and my visit last year in conjunction with the ASEAN-China Commemorative Summit.

2.            It has been barely three decades since China made a strategic decision to open up and modernise itself.  Since then, China has transformed its economy and society dramatically.  It is growing in confidence, and steadily approaching its goal of a 小康社会 (moderately well-off society).  The recent successful launch of China’s first lunar probe, 嫦娥一号 reflects the enormous progress that the country has made.   

3.            The conclusion of the 17^th Party Congress last month marks another significant milestone in China's development.  A new generation of Chinese leaders has been elected.  The policies of liberalisation and reform have been further established as the irrevocable path for China. At the same time, China is confronting its internal challenges head on, tackling environmental concerns and issues of social equity to ensure sustainable development and a harmonious society.

4.            Singa­pore believes that China’s rise is a major plus for Asia.  It will contribute to a vibrant and stable continent, and create a favourable environment for the other Asian countries to grow.  China and Singa­pore share many common perspectives on regional issues, even when our tactical approaches do not coincide.  We want peace and stability in Asia, and believe that the best way to achieve this is to have a stable, open and prosperous China taking an active interest in the region, alongside other major powers.  This is why we want China to succeed, and are happy to participate in its transformation in whatever small way we can.

5.            The close ties between our countries are extensive and span multiple fronts.  The signing of the Eco-City Framework Agreement and the launch of the Singapore-China Foundation (SCF) will further deepen our cooperation and bring our bilateral relations to even greater heights.

6.            The Eco-City project comes thirteen years after the inception of our pioneering flagship project, the Suzhou Industrial Park (SIP).  In the last few months, both sides have work hard to conduct technical studies, work out the modalities for practical cooperation and jointly identify the Eco-City site in Tianjin.  The Eco-City is not just another commercial venture.  It reflects Singapore’s continued commitment to share with China lessons from our developmental experience, adapted to China’s conditions and needs.  The idea is to create, jointly with China, a city which is socially harmonious, environmentally friendly, resource-efficient, and which can serve as a model for other Chinese cities.  It is an extremely challenging project, but with the full support of the Singa­pore government on the one side, and the Chinese central government as well as the Tianjin municipal government on the other, I am confident that the Eco-City will become a second iconic project in our bilateral cooperation. 

7.            The Singapore-China Foundation is another important initiative.  It provides opportunities for our officials to exchange notes, develop mutual understanding and foster closer ties.  I am pleased to note that since this platform was established in 2003, 10 Singaporean and 8 Chinese officials have already been awarded the Singapore-China Premier Scholarship to study in top universities in both countries.

8.            Singapore’s bilateral economic linkages with China are strong and growing.  Trade and investment flows are large and increasing rapidly. Many Singaporeans have set up businesses in China and serve the Chinese market.  At the same time, many Chinese businesses are coming to Singapore.  We are home to more than 2,500 companies from China, with 100 listed on the Singapore Exchange.  People to people exchanges are also growing in both directions, facilitated by unlimited number of flights between Singapore and any city in China.  The early conclusion of a substantial Singapore-China FTA within the framework of the ASEAN-China FTA will not only strengthen these bilateral economic ties, but foster greater regional integration between China and ASEAN. 

9.            Indeed, Singapore’s links with China should be seen in the broader context of our overall relationship in regional groupings like ASEAN, ASEAN+3 and the EAS.  We will be meeting over the next few days in these forums.  Singapore strongly supports closer ASEAN links with China. As the current ASEAN Chair, Singapore looks forward to working closely with China in the ASEAN+3 and EAS to promote a more open and inclusive framework for regional cooperation.  As Premier Wen put it, we need to “promote open regionalism, so as to achieve progress for all countries”.

10.        Your Excellency, the strong and dynamic partnership between Singapore and China is an ongoing success story.  Our strong ties are rooted in shared interests and mutual benefit.  I have every confidence that our relations will continue to grow and flourish in the years to come.

11.   Distinguished guests, ladies and gentlemen, may I now invite you to rise and join me in a toast to the good health and success of His Excellency Premier Wen Jiabao, to the peace and prosperity of China, and to the enduring friendship between our countries.

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(Revised Chinese translation of toast speech delivered in English)