August 4, 2010
Shanghai, China – Chinese and Singapore digital media firms and industry associations have signed 18 business deals and memoranda of understanding (MOUs), deepening media ties between the two countries. Among the deals is a S$100 million (RMB480 million) cross border venture capital fund, the first China-Singapore co-developed game, and a 3D virtual learning community for Chinese language teaching and learning. These announcements were made recently at the China-Singapore Media Industry Exchange, by the Media Development Authority (MDA) of Singapore. The event was held in conjunction with the Singapore Media Showcase, a public exhibition featuring Singapore media content and technologies running from 1 to 21 August at the Singapore Pavilion at Shanghai World Expo. “Singapore’s media first established its presence in China in the 1980s when our drama serials began showing in China and became popular hits. In recent years, we have revitalised our media ties with China, including the carriage of CNA International in China and since 2007 a series of government-to-government MoUs. That set the stage for more media collaborations, including the forthcoming China-Singapore Drama Golden Melodies Concert and a slate of TV co-productions announced last month. Bilateral media relations reached new heights two weeks ago with the signing of the China-Singapore Film Coproduction Agreement, paving the way for more partnerships in content creation between the two countries,” said MDA chairman Dr Tan Chin Nam. “Aside from film, music and TV, Chinese and Singapore media companies are forging ties in the burgeoning digital media space. Hence, against the backdrop of the Shanghai World Expo, we are organising the Singapore Media Showcase and China-Singapore Media Industry Exchange to raise awareness of Singapore’s digital media capability among the Chinese public and industry players. As China’s media industry makes tremendous strides and Singapore ramps up the development of its media sector, we believe there are many opportunities for companies from both countries to gain new ground through mutually beneficially partnerships, such as the line-up of digital media partnerships announced today. Singapore looks forward to partnering with China to address business opportunities in each other’s markets and the international arena, embarking on a new S curve of growth for media business based on win-win collaboration,” added Tan.