Keynote Speech by Deputy Prime Minister and Minister for Trade and Industry (Trade) Gan Kim Yong at FutureChina Global Forum 2026

Mr Lee Yi Shyan, Chairman of Business China,

Ms Kwek Poh Heok, Chief Executive Officer of Business China,

Board members and the Business China team,

My Cabinet and Parliamentary colleagues,

Excellencies, distinguished guests, ladies and gentlemen,

1. Good morning. I am pleased to join you at the FutureChina Global Forum.

2. This is a useful platform for business and government leaders to exchange views, better understand the developments shaping China and our region, and consider what we can achieve together.

3. Connectivity and openness have been a powerful growth driver of development for Asia. Trade and investment have opened markets for businesses, brought in new capabilities, and enabled workers to have better jobs. Singapore and China have both benefited greatly.

4. Today, this model is under tremendous strain from two directions.

5. Geopolitical rivalry has made countries more concerned about dependencies and economic security.

6. At the same time, businesses and workers are asking whether they have a fair share in the gains from growth and technological change.

7. These concerns can fuel demands for protection and cause economies to look inwards and close up. But higher barriers can, instead, make it harder for firms to reach new markets, acquire capabilities, and seize new opportunities.

8. So we cannot simply counter openness by closing up. We have to make openness work better for businesses and for people.

9. This is the focus of the Forum’s theme, “Strengthening Resilience, Rebuilding Trust”.

10. Resilience requires us to build stronger capabilities at home, while expanding our connections abroad.

11. Trust between partners makes these connections more dependable, especially when circumstances become harder.

12. At the same time, we must give businesses and people a stake in the progress and prosperity brought about by openness, resilience and trust.

13. This is the thinking behind our Economic Strategy Review (ESR).