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Chinese services trade fair draws global participation, highlights open markets

Published

3 months ago

11/09/2025

BEIJING, CHINA – Media OutReach Newswire – 11 September 2025 – Against the backdrop of repurposed blast furnaces and industrial relics of Shougang Park in western Beijing, the 2025 China International Fair for Trade in Services (CIFTIS) opened on Wednesday, striking a tone of open markets and digital innovation.

People visit a booth of Pop Mart during the 2025 China International Fair for Trade in Services (CIFTIS) in Beijing, capital of China, Sept. 10, 2025. (Xinhua/Chen Yehua)

This year marks the first time the entire fair is being held at Shougang Park, a 3-square-kilometer industrial heritage site and a venue for the Beijing 2022 Winter Olympics. The theme, “Embrace Intelligent Technologies, Empower Trade in Services,” underscores a focus that resonates far beyond China’s borders.

The scale of this year’s CIFTIS is vast, with 85 countries and international organizations — including Australia, Germany and the World Intellectual Property Organization — taking part. Nearly 2,000 companies are exhibiting on-site, including close to 500 Fortune Global 500 companies and industry-leading enterprises like Walmart, AstraZeneca and KPMG. The fair’s participants, notably, come from 26 of the world’s top 30 countries and regions in terms of services trade.

The transformation of the global economy, where services now form the backbone of growth, took center stage in speeches and discussions at the Global Trade in Services Summit, co-hosted on Wednesday by the United Nations Conference on Trade and Development (UNCTAD), China’s Ministry of Commerce and the Beijing municipal government.

“Services are no longer a supporting actor in global commerce. They are a driver of growth,” said Johanna Hill, deputy director-general of the World Trade Organization (WTO). She highlighted that the sector accounts for two-thirds of the global economy, half of worldwide employment and 40 percent of trade flows in value-added terms.

Echoing Hill’s comments, Pedro Manuel Moreno, deputy secretary-general of UNCTAD, called services “the center of global economic transformation.” He shared striking figures — services exports have grown twice as fast as goods exports over the past decade, rising from 22 percent of world exports in 2014 to 27 percent in 2024. They also attract over half of all global foreign direct investment.

*Visitors view exhibits at the booth of Iran during the 2025 China International Fair for Trade in Services (CIFTIS) in Beijing, capital of China, Sept. 10, 2025. (Xinhua/Shan Yuqi)*

China leveraged the platform to reaffirm its commitment to opening up. In his keynote speech, Chinese Vice Premier Ding Xuexiang noted that the country’s services trade scale “broke new ground in 2024, exceeding 1 trillion U.S. dollars for the first time.” He linked this to China’s institutional opening of its services sector, including the rollout of a nationwide negative list for cross-border services trade, expanded market access in telecoms and healthcare, facilitated services trade and visa-free policies.

Official data showed that the total value of China’s services trade climbed 8 percent year on year to 3.9 trillion yuan (about 548.82 billion U.S. dollars) in the first half of 2025 — hitting a historic record.

China’s Commerce Minister Wang Wentao emphasized how the host venue, Shougang Park, blends industrial heritage with the Winter Olympics legacy to promote interaction between exhibitions, conferences, business, tourism, culture and sports.

The role of international collaboration proved a recurring topic on the opening day.

Australia is the guest country of honor at the 2025 CIFTIS. “It’s an important platform for us to build links between Australian and Chinese businesses,” said Scott Dewar, Australian ambassador to China. He highlighted the presence of 60 Australian companies at the 2025 edition of this fair — spanning sectors like education, tourism, finance, healthcare, architecture and food and beverages.

This sentiment was shared on the ground. “Australia and China have had a long collaboration in the education sector, which is a key area of the services trade,” said Christopher Hogg, global business development manager at Chisholm Institute of TAFE, a provider of vocational training and higher education in Australia.

Henning Kristoffersen, commercial counselor of the Norwegian Embassy in Beijing, attending this event for a third time, pointed to concrete business opportunities. “Chinese consumers are very health-conscious. And for the products that we have in Norway, this is great,” he said, mentioning Omega-3 supplements and fish oil as examples. “Our companies have a great chance to showcase their products and meet potential Chinese partners.”

More than a diplomatic and business gathering, the fair is also a launchpad for innovation. A total of 113 companies will unveil 198 new products and achievements at the 2025 edition — spanning the fields of artificial intelligence, healthcare and smart logistics, as well as the integrated development of business, tourism, culture, sports and wellness.

Alongside the core agenda of 13 themed forums, 82 special topic forums and 81 promotional business talks — there will be over 40 supportive activities ranging from cultural performances and pop-up markets to sports events, aimed at boosting consumption and enhancing the fair experience.

“I’m encouraged by the content that we’re about to see, including innovative technology and digitalization,” said Crystal Edn, executive director of member services for the World Trade Centers Association, who is attending her first CIFTIS.

The event will run for five days until Sept. 14 — with the first three days set aside for professional visitors and the last two open to the general public.

Hashtag: #2025CIFTIS

The issuer is solely responsible for the content of this announcement.

Media OutReach

Payment Options Singapore Secures In-Principle Approval from MAS for Major Payment Institution Licence

Published

11 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – Payment Options Pte Ltd, a Singapore-based payment solutions provider, is pleased to announce that it has received In-Principle Approval (IPA) from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) licence under the Payment Services Act 2019.

Payment Options Pte Ltd office in Singapore

This milestone underscores Payment Options’ commitment to supporting Singapore’s small and medium-sized enterprises (SMEs) with simple, secure, and accessible digital payment solutions.

If granted the licence, Payment Options Pte Ltd will be authorised to provide three regulated payment services: Merchant Acquisition, Domestic Money Transfer, and Cross-Border Money Transfer. Through these services, the company aims to empower SMEs with a full suite of payment capabilities — from online payment gateways and QR code payments to the upcoming SoftPOS payments technology — enabling merchants to accept digital payments easily and securely.

“We remain deeply committed to supporting Singapore’s SMEs as they grow and compete in an increasingly digital-first economy. Our vision is to position digital payments as a growth enabler — not a challenge — for small businesses”, said Aaron Yip, Director of Payment Options Pte Ltd. “Our goal is to make digital transactions seamless, secure, and accessible for every business, regardless of size.”

Building on this vision, if the licence is granted, Payment Options will continue to work closely with local merchants, financial institutions, and technology partners to enhance payment accessibility and drive innovation across Singapore’s SME ecosystem.

“We reaffirm our commitment to regulatory compliance and innovation, as we contribute to Singapore’s ongoing journey toward a secure, inclusive, and cash-lite economy.”

The IPA granted by the MAS indicates that a licence may be issued upon the fulfilment of specified conditions and provided there are no material adverse developments affecting the applicant. The IPA does not constitute a licence to provide payment services at this stage, and MAS reserves the right to rescind the approval if it deems appropriate.
Hashtag: #PaymentOptions

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The issuer is solely responsible for the content of this announcement.

About Payment Options Pte Ltd

Payment Options Pte Ltd is a Singapore-based financial technology company providing innovative and secure payment solutions designed to help SMEs and merchants simplify digital transactions. With a focus on compliance, technology, and customer experience, the company aims to make digital payments accessible for every business.

Media OutReach

Financial Assistance at SIM: Breaking Barriers to Education

Published

12 hours ago

08/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 8 December 2025 – For many aspiring learners, financial constraints remain one of the biggest obstacles to achieving their goals. SIM is determined to change that. Guided by the principle that no student should be left behind because of cost, SIM has built a comprehensive ecosystem of financial aid, scholarships, and bursaries to make quality education attainable for all.

At the heart of this mission is the SIM Impact Fund, a S$60 million initiative dedicated to empowering students from diverse backgrounds and ensuring that financial hardship never stands in the way of academic or personal growth. By blending need-based assistance with merit-driven opportunities, SIM is creating an inclusive learning environment where talent and ambition define success.

Empowering Learners Through the SIM Impact Fund

In 2024, SIM introduced the SIM Impact Fund, a S$60 million initiative dedicated to supporting students from lower-income households and ensuring that financial constraints do not hinder educational aspirations. Administered through SIM Trust, the fund is designed to empower learners within and beyond SIM’s community by removing barriers to access. Beginning in 2025, Singapore Citizens and Permanent Residents with a per-capita income of S$1,750 or below can benefit from tiered assistance, ranging from S$6,000 up to S$13,500 for those with PCI of S$600 or less, S$4,500 to S$6,750 for PCI between S$601 and S$1,000, and S$2,000 for PCI between S$1,001 and S$1,750. Beyond tuition aid, the fund also provides support for overseas internships and merit-based scholarships, benefiting approximately 500 students annually.

Beyond Tuition: Comprehensive Financial Aid

SIM’s commitment to learning accessibility goes far beyond tuition subsidies. Through its Financial Assistance schemes, students can tap into a range of support options tailored to different needs. These include Enhanced Bursaries Aid, which provide up to S$13,500 per year for Singapore Citizens, and a SIM GE Crisis Fund offering emergency relief of up to S$5,000 for unforeseen circumstances. In addition, SIM encourages global exposure through Study Abroad Awards, enabling students to broaden their horizons without financial strain. Together, these initiatives reflect SIM’s ethos of inclusivity and resilience, ensuring that financial challenges never derail academic aspirations.

Community-Focused Support

The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) exemplifies SIM’s deep-rooted commitment to community empowerment and social impact. Launched in July 2024 in partnership with the late Dr Eu’s family,

RESSEC received a combined S$8 million donation, S$6 million from the Eu family and S$2 million from SIM, marking a significant investment in nurturing social entrepreneurship. Guided by Dr Eu’s vision of transforming social service through ethical leadership and innovation, the Centre equips learners and social service professionals via initiatives such as a specialised postgraduate Diploma in Social Entrepreneurship, mentorship, and collaborative dialogues.

RESSEC also provides 12 bursaries of S$10,000 each for SIM Global Education students (check that this is accurate and that it’s not also extended to those outside the SIM ecosystem) who demonstrate strong community service and leadership and those with per-capita income up to S$1,750, prioritising those with per-capita income less than S$1,000. Through this initiative, SIM embeds purpose-driven learning into its mission, empowering students to create sustainable, positive impact in Singapore and beyond

Scholarship for Excellence

SIM offers a diverse range of scholarships under SIM Global Education to recognize excellence and resilience among its students. These include the SIM STARRR Award, which provides up to S$36,000 to outstanding achievers who demonstrate academic distinction and leadership qualities, and the Sports & Arts Talent Award, also valued at S$15,000 for students who excel in athletic or artistic pursuits. Additionally, the Chairman’s Award for Resilience grants S$3,000 to students who successfully balance work and study commitments, showcasing perseverance in the face of challenges. Together, these scholarships complement SIM’s need-based financial aid, creating a holistic support system that rewards merit while ensuring inclusivity.

Conclusion: Building a Future Without Barriers

SIM’s financial assistance framework is more than a set of policies, it is a promise to the community. By investing in initiatives like the SIM Impact Fund and expanding bursaries and scholarships, SIM is actively dismantling the barriers that prevent talented individuals from reaching their potential. This approach does not just benefit students, it strengthens society by cultivating a diverse pool of graduates equipped to lead, innovate, and give back. In a world where education often comes with a hefty price tag, SIM stands out as a beacon of accessibility and empowerment. For students and families seeking assurance that quality education is within reach, SIM offers not just hope but a clear, actionable path forward.

References:

Bursaries & Financial Aid (Enhanced) – https://www.sim.edu.sg/degrees-diplomas/admissions/bursaries-and-financial-aids
Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) – https://www.sim.edu.sg/degrees-diplomas/sim-global-education/ressec
The Dr Richard K M Eu – SIM Social Entrepreneurship Centre (RESSEC) Opens to Advance Singapore’s Social Sector – https://www.sim.edu.sg/news-events/the-dr-richard-k-m-eu-sim-social-entrepreneurship-centre-%28ressec%29-opens
SIM Scholarship – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships
SIM’s STARRR Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-starrr-award-for-new-undergraduate-students
SIM Award and Sports & Artistic Award – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-scholarship
SIM Global Education Diploma Scholarships – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/sim-global-education-diploma-scholarships
Chairman’s Award for Resilience – https://www.sim.edu.sg/degrees-diplomas/admissions/scholarships/chairman-s-award-for-resilience

Hashtag: #SIMGlobalEducation #SIMGE #GlobalEducation #InternationalDegree #CareerReady #FutureSkills

The issuer is solely responsible for the content of this announcement.

About SIM Global Education

SIM Global Education (SIM GE) is a leading private education institution in Singapore and the region. We offer more than 140 academic programmes ranging from diplomas and graduate diploma programmes to bachelor’s and master’s degree programmes with some of the world’s most reputable universities from Australia, Canada, Europe, United Kingdom, and the United States. SIM GE’s cohort is made up of 16,000 full- and part-time students and adult learners, of which approximately 36% are international students hailing from over 50 countries.

SIM GE’s holistic learning approach and culturally diverse learning environment aim to equip students with knowledge, industry skills and employability competencies, as well as a global perspective to succeed as future leaders in a fast-changing, technologically driven world.

For more information on SIM Global Education, visit sim.edu.sg

Media OutReach

Beyond Academic Excellence: SIM Scholarships Champion Leadership, Resilience, and Talent

Published

1 day ago

07/12/2025

Media Outreach

SINGAPORE – Media OutReach Newswire – 7 December 2025 – The Singapore Institute of Management (SIM) is proud to reaffirm its commitment to developing future-ready graduates through a comprehensive scholarship framework that goes beyond academic achievement. These scholarships are designed to recognize and nurture qualities such as leadership, resilience, and talent. These attributes are essential for success in today’s dynamic global environment.

For decades, scholarships have been synonymous with academic excellence. SIM is redefining this narrative by adopting a holistic approach that values character, contribution, and courage alongside academic performance. This initiative reflects SIM’s mission to prepare graduates who are adaptable, innovative, and socially responsible.

Scholarships That Go Beyond Academics

SIM’s scholarship ecosystem reflects its belief that success is multidimensional. Rather than focusing solely on grades, these awards celebrate qualities such as resilience, leadership, and talent. The SIM STARRR Award, for instance, supports freshmen who embody Resilience, Resourcefulness, and Responsibility, offering up to S$36,000 in tuition fees, along with living and exchange allowances, without any bond requirement.

For students who shine in sports or the arts, the SIM Award & Sports/Artistic Talent Award provides S$15,000, disbursed in two tranches, to help them balance academic and extracurricular excellence.

International students pursuing diploma programmes can benefit from the Diploma Scholarships, which cover up to 100% of course fees for academic excellence or 50% for merit-based achievements.

For working adults who have overcome significant challenges, the SIM Chairman’s Award for Resilience offers S$3,000, recognizing perseverance and determination in the face of adversity.

Stories That Inspire

SIM’s scholarships are more than financial aid. They are catalysts for transformation, opening doors for students to turn challenges into triumphs. Take Ernita Tanudjaja, an international student who refused to let pandemic disruptions derail her ambitions. Instead, she leveraged technology to livestream events and boost engagement, showcasing resilience and resourcefulness.

Similarly, Chow Kah Ying, an ICU nurse, managed the intense demands of frontline healthcare during COVID-19 while completing her degree, showcasing perseverance and purpose. Likewise, Michelle Seah transformed O-level failure into triumph, excelling in javelin and academics to earn the SIM Sports & Artistic Talent Award, proof that determination and discipline can rewrite any story.

These journeys reflect SIM’s unwavering belief that leadership and resilience matter as much as grades, and that true achievement lies in character and contribution as much as in academic performance.

The Broader Vision

SIM’s scholarships represent more than financial assistance. They serve as a strategic platform for transformation and growth. Recipients benefit from networking opportunities that connect them with alumni and industry leaders, fostering mentorship and career development. Many scholarships also provide international exposure through exchange programmes that broaden perspectives and enhance global competencies.

In addition to academic achievement, students cultivate essential life skills such as leadership, resilience and adaptability through experiential learning and community engagement. These qualities equip graduates to excel in uncertain environments and contribute meaningfully to society.

This commitment reflects SIM’s core belief that education is not limited to examinations. It is about shaping leaders who create impact and drive positive change in a rapidly evolving world.

References: