SINGAPORE - Media OutReach Newswire - 15 October 2025 – Professional and business communities from Singapore and Shanghai came together today in a landmark collaboration to deepen ties and empower enterprises in the Asia region.

At the Sino-Singapore Forum for Empowering Enterprise Globalisation and Excellence, four leading professional bodies, the Institute of Singapore Chartered Accountants (ISCA), the Shanghai Institute of Certified Public Accountants, the Law Society of Singapore, and the Shanghai Bar Association, signed a Memorandum of Understanding (MOU) to chart a new path of partnership between both cities' professional communities.

Mr Edwin Tong, Minister for Law and Second Minister for Home Affairs of Singapore, and Mr Fuan Kong, Secretary of the Party Leadership Group and Executive Deputy Director-General, delivered the opening addresses, underscoring the importance of professional collaboration in driving enterprise globalisation.

The forum brought together distinguished representatives from accounting, legal, and business organisations from both Singapore and China. Discussions centred on how cross-border professional synergy can help enterprises navigate regulatory complexities, enhance governance, and accelerate sustainable international growth.

The forum is organised by the Professional Services (PS) Centre, an alliance initiative by eight trade associations and professional membership bodies — the Association of Small & Medium Enterprises, ISCA, the Institute of Valuers and Appraisers, Singapore, the Singapore Business Federation, the Singapore Chinese Chamber of Commerce & Industry, the Singapore Manufacturing Federation, Tax Academy of Singapore and The Law Society of Singapore. The PS Centre aims to serve as a trusted hub for professional services and enable cross-border collaboration, knowledge exchange, and access to specialised talent and resources.

The signing of the MOU during the forum marks a new milestone in Singapore–Shanghai professional collaboration. The agreement establishes a structured framework for cooperation in three key areas:

1. Mission Trips – Reciprocal business delegations to foster on-the-ground learning and partnerships.
2. Knowledge-Sharing Sessions – Joint annual seminars, workshops, and roundtables on themes such as cross-border M&A, ESG reporting, and fintech regulation.
3. Professional Services Centre as a Platform – A strategic bridge to integrate professional services resources between Singapore and China, supporting bilateral exchanges and collaborative ecosystem development.

Mr Fu'an Kong, Secretary of the Party Leadership Group and Executive Deputy Director-General, remarked: "I am very excited to witness the launch of this four-party MOU platform in Hongqiao. Hongqiao's unique position as a gateway to international markets makes it an ideal base for deeper connectivity, and we warmly welcome more companies to invest and grow here. This collaboration is a strong signal of our shared commitment to openness, innovation, and building a thriving ecosystem for enterprises on both sides."

ISCA President Mr Teo Ser Luck said: "Today's forum marks an important milestone in strengthening the partnership between professional services and businesses in Singapore and China. By bringing together our strengths in accountancy and law, we are not only helping businesses expand confidently into overseas markets, but also building trusted ecosystems that support their long-term success."

Mr Gu Hongxiang, President of the Shanghai Institute of Certified Public Accountants, said: "SHICPA will strengthen collaboration in three key areas: enhancing professional exchanges to meet cross-border service needs, creating an information-sharing platform for joint seminars and expert cooperation, and building a cross-border service ecosystem through the Sino-Singapore Professional Services Alliance to support enterprises expanding between China, Singapore and ASEAN."

Ms Lisa Sam, President of The Law Society of Singapore, said: "Cross-border cooperation between lawyers and accountants is increasingly vital in addressing complex business needs. This collaboration with our Shanghai counterparts will provide new opportunities for joint learning and practical solutions that help enterprises navigate the challenges of globalisation."

Mr Shao Wanquan, President of the Shanghai Bar Association, said: "The Shanghai Bar Association has a long-standing history of cooperation with Singapore's Ministry of Law and Law Society, yielding remarkable results from lawyer exchange programmes, special membership systems and free trade zone joint ventures. Today, with four associations joining hands to build a service chain via a signed MOU, we are offering full-cycle support for Chinese firms going global as well as Singaporean and ASEAN firms entering China. This marks a new stage of 'chain integration' in Shanghai–Singapore professional services cooperation, and together, we will continue to safeguard the global development of enterprises from both countries."

The forum and the MOU mark the beginning of a structured partnership that will see professionals from both cities meet regularly, exchange insights, and support enterprises in their globalisation journey.

By uniting four leading professional bodies from two of Asia's most dynamic cities, the collaboration signals a strong commitment: that professional services are not just about compliance, they are strategic enablers of growth, innovation, and cross-border opportunities.