China-Singapore FTA Further Upgrade Protocol to commence on Dec 31

Businesses utilising CSFTA can benefit from three areas enhanced by this protocol, a release from the Singaporean ministry of trade and industry said.

Singaporean investors and service suppliers will enjoy more liberal and transparent rules that level the playing field for them to invest in and trade with China.

Businesses in Singapore will benefit from greater market access to China through a ‘negative list’ approach, where by default, all sectors are opened to investors except for those specifically listed.

Notably, China commits to not limiting foreign equity limits for Singapore investors in 22 sectors, including retailing and wholesale.

The new standalone chapter on telecommunications services will enhance transparency in domestic regulatory processes, promote competition, and facilitate industry participation in collaborative activities for innovation and development.

CSFTA is China’s first comprehensive bilateral FTA with an Asian country and entered into force on January 1, 2009. It has since been upgraded twice—in 2011 and 2019.

ALCHEMPro News Desk (DS)