With the global digital economy expanding rapidly, data emerging as a crucial driving force, and Chinese companies intensifying their global strategies, Southeast Asia, exemplified by Singapore, is increasingly becoming a vital hub and target market for Chinese enterprises' overseas ventures. How can we achieve a balance between development and security in the digital realm?

On the afternoon of April 28, the 5th Yangpu Digital Salon hosted its compliance and overseas expansion special event, with the theme "Digital Companies Venture into Overseas Markets - Spotlight on Singapore", took place at Changyang Campus. The event brought together experts and scholars in relevant fields and representatives from digital economy enterprises.

Building on the "New Digital Voyage: Global Expansion for a Brighter Future" salon that kicked off the series of corporate compliance in global expansion, this session focused on Singapore, with the goal of exploring routes for Chinese enterprises to venture overseas. Afterwards, the series will delve into other key regions, including the Middle East and Europe, to share insights and experiences. Additionally, a compliance guideline for the global expansion of digital economy enterprises will be released to support businesses in their international market expansion efforts.

Spotlight on Singapore: Empowering Enterprises for Global Expansion

During the sharing segment of the salon, Jaclyn Hu, Senior Manager of International and Mergers & Acquisitions Tax Advisory Services at EY, presented on "Singapore's Tax System and Preferential Policies". She provided a comprehensive overview of Singapore's tax structure, noting that companies can benefit from a tiered tax rate ranging from 0% to 15% under specific conditions. Additionally, she highlighted Singapore's initiatives to attract cross-border investment and foster industrial diversity, such as the Regional Headquarters Award, the Pioneer Certificate Initiative, and the Global Trader Programme.

During the session on "Strategies and Compliance Guidance for Digital Enterprises in Singapore", Hui Zhibin, Director of the Center for Internet Studies, Shanghai Academy of Social Sciences and Chief Researcher at the SICSI Cyber Research Institute, delved into Singapore's unique strengths as a regional digital hub. He highlighted Singapore's digital business environment, data governance framework, and Internet policies. Addressing the international expansion needs of Chinese digital enterprises, Hui further explored the strategies for establishing a presence in Singapore for key industries like AI, cloud computing, e-commerce, and digital content. He also explored the compliance challenges related to cross-border data flow, content regulation, and intellectual property protection that enterprises may encounter.

During the session on "Best Practices of Risk and Compliance Management for Global Expansion of Chinese Enterprises", Tim Shi, China Director of LexisNexis Risk Solutions, highlighted Singapore's regulatory framework for sanction compliance and export control. He stressed that companies must urgently implement a dual-prevention mechanism. Firstly, automated screening systems should be deployed to continuously monitor and identify risks associated with customers, suppliers, and other business partners, ensuring alignment with multilateral sanctions. Secondly, specialized tools should be utilized to conduct thorough technical reviews of export products, with a focus on those containing controlled technology components. This approach will help establish a robust and comprehensive compliance management system for cross-border operations.

In the case sharing segment, Shen Chao, a solutions expert from UCloud, delved into the topic of "Digital Practices of Global Expansion". He highlighted that the digital economy is now a powerful driver of global economic growth, presenting extensive market potential and innovation prospects for companies venturing overseas. In China, enterprises in sectors such as manufacturing, e-commerce, and technology are rapidly expanding their global presence. The number of such enterprises surged by 20% year on year in 2023, with the technology and e-commerce sectors experiencing particularly significant growth.

"The government creates the platform and enterprises take center stage": corporate initiatives keep flourishing

The event ended with an interactive Q&A session. The speakers and the audience delved into hot issues like "Compliance Practices of Cross-Border Data Flows in Singapore" and "Application of Preferential Tax Policies". Based on their overseas experience, the corporate representatives had a lively exchange with the experts on topics such as strategies for accessing the Singaporean market and challenges in local operations, bridging the gap between theory and practice.

At the event, a variety of engaging activities sparked a vibrant exchange of ideas among the corporate representatives and fostered a culture of experience sharing.

Yangpu-based Shanghai Shengshuiyuan Management Consulting Co., Ltd. focuses on attracting investments to overseas industrial parks and offers enterprises integrated services, including overseas registration, site selection, and factory construction, to support their global expansion. "Right now, a bunch of companies are all eyeing Southeast Asia. We're no different. We're looking to really improve our services there. So this salon organized by our district is a perfect fit for us," said Hu Xinjian, the company's general manager, with a smile. "It's the government creating the platform and enterprises taking center stage. Together, we're ready to make a splash overseas!"

Now in its fifth edition, the salon is drawing more and more companies from outside the district into this "big family". A case in point is Shanghai Lanxihang Technology Co., Ltd., a company from Fengxian. Having attended two editions of Yangpu Digital Salon, they have found the experience extremely rewarding.

"Back in the day, when we were dealing with business operations and trying to collaborate with others in the industry, we ran into all sorts of confusions and issues. We really needed someone in the know to help us out. This salon did a great job breaking down the relevant laws and policies for us. It was super helpful," said Tang Yizhen, the company's general manager. "Right now, you can just feel the buzz around the digital economy in our district. It's booming! And our company's push to go global is also picking up steam. We're really thankful for this chance to learn and grow here."

The compliance and overseas expansion special event of the 5th Yangpu Digital Salon, with the theme "Digital Companies Venture into Overseas Markets - Spotlight on Singapore", was hosted by the Office of the Cyberspace Affairs Commission of the CPC Yangpu District Committee, organized by the SICSI Cyber Research Institute, and co-organized by the Yangpu Internet Development Association and the Center for Internet Studies, Shanghai Academy of Social Sciences.

Addressing challenges and supporting development

Since it was launched in December 2024, the Yangpu Digital Salon has been conducted in an offline manner, featuring one session each month, amounting to a total of 12 sessions. It is primarily targeted at management, legal, and technical professionals from digital economy enterprises in Yangpu and across Shanghai. The salon is centered on themes related to digital economy compliance, with experts from industry, academia, and research institutions invited to share insights and engage in discussions.