Singapore’s Ministry of Trade and Industry (MTI) and China’s Ministry of Commerce (MOFCOM) have signed a memorandum of understanding to boost bilateral cooperation in the green and digital economy between the two countries. The agreement will focus on areas such as renewable energy (RE), green building, green finance, and water and waste management.

Additionally, both governments will encourage companies to conduct cooperative research and development projects as well as promote innovations in low carbon technologies. In terms of the digital economy, the governments will explore joint opportunities in investment cooperation, digital trade and digitally enabled services. Working groups will be established by MTI and MOFCOM to oversee the execution of both MOUs.