SINGAPORE -
Media OutReach Newswire - 25 June 2025 - Six trade associations and professional membership bodies have come together under a unified collaboration, known as the Alliance, to officially launch the full-scale Professional Services (PS) Centre in Shanghai today. The Alliance comprises the Institute of Singapore Chartered Accountants (ISCA), the Association of Small & Medium Enterprises (ASME), the Institute of Valuers and Appraisers, Singapore (IVAS), the Singapore Manufacturing Federation (SMF), the Tax Academy, and The Law Society of Singapore. Together, the Alliance represents a network spanning over
30 industries, from manufacturing, electronics, energy and life sciences to finance, technology, F&B, logistics, legal, tax, accountancy and valuation, bringing over
50,000 professionals and businesses under one collaborative ecosystem for cross-border growth. This marks a significant milestone in strengthening professional and business ties between Singapore and China. Strategically located in the heart of the Hongqiao Business District, the PS Centre will serve as a gateway for bilateral engagement, providing a platform for Singapore and Chinese businesses to connect, collaborate, and grow. The PS Centre builds upon the Alliance's long-term vision to establish up to 10 PS Centres globally under this collaborative initiative with its founding partners. It represents a pivotal step in expanding Singapore's professional services ecosystem into China through a permanent, on-the-ground presence in one of Asia's most vibrant business hubs. Supported by key stakeholders from both Singapore and China, including government agencies, trade associations, and professional bodies, the PS Centre will act as a collaborative platform for knowledge exchange, talent support, thought leadership, and business development, especially for firms seeking new opportunities in China. The PS Centre exemplifies Singapore's "hunt in a pack" strategy, where business associations and professional membership bodies expand together as a group to regionalise. This enables:
- end-to-end support for businesses entering new markets covering legal, tax, valuation, accounting, and advisory needs;
- shared resources, know-how, and networks for greater operational efficiency and collective strength; and
- broader regional footprint and deeper market penetration across Southeast Asia and beyond.
The PS Centre is built around three overarching focus areas:
1. A Conduit for International Expansion Acting as a hub for firms, trade associations, and partners seeking to expand overseas. By connecting them to a curated network of region-specific experts and local partners, firms gain tailored guidance and services to navigate new markets confidently.
2. Business Enablement The PS Centre provides business opportunities for ISCA Corporate Members and a wide community of professional services firms, including those in accounting, tax, legal, business valuation and corporate advisory. It offers an in-market presence, local expertise, and collaboration spaces for sustained engagement.
3. Fostering a Regional Ecosystem Serving as a platform for cross-border knowledge sharing, strategic networking, thought leadership, and innovation - laying the groundwork for robust, long-term professional partnerships and a future-ready business community across Asia. Mr Fuan Kong, Secretary, Party Leadership Group Executive Deputy Director-General, said: "We welcome ISCA's presence here and are confident that the PS Centre will play a meaningful role in advancing our shared goals of development, innovation and economic exchange." This launch signals the start of a new chapter in the internationalisation of Singapore's professional services in China, paving the way for additional full-scale PS Centres in Ho Chi Minh City, Nanjing, and Johor Bahru in the coming months. "The establishment of ISCA's PS Centre in Shanghai reflects the growing demand for trusted, cross-border professional partnerships," said Mr Loh Tuck Keat, Consul-General of the Consulate General of the Republic of Singapore in Shanghai. "I believe that it will serve as a strong foundation for deeper economic and professional engagement between Singapore and China." The Alliance invites businesses and professional services firms to watch for more updates as they continue to expand this regional network - bringing trusted expertise to businesses across Asia and creating new pathways for sustainable growth and collaboration. "The new PS Centre in Shanghai is an important step forward in our goal to support organisations as they expand overseas," said Mr Teo Ser Luck, President of ISCA. "Having a physical presence in China helps us build a stronger, Singapore-led network where professional bodies, trade groups, and businesses work closely together to find new opportunities. This 'hunting in a pack' approach means companies can get support in critical functions, while allowing us to grow our reach further into the region." Mr Ang Yuit, President of the Association of Small & Medium Enterprises (ASME), said, "Shanghai represents a gateway to one of the world's most dynamic markets. With the launch of the Professional Services Centre here, we are not only deepening cross-border business collaboration but also reinforcing the commitment of Singapore's trade associations to support SMEs in navigating complex, fast-moving economies. ASME is proud to be part of this Alliance and looks forward to helping our enterprises build trusted partnerships, access in-market expertise, and scale confidently across borders." "The opening of the China Shanghai Professional Services Centre marks a significant step forward in strengthening regional collaboration and enabling Singapore enterprises to internationalise with confidence," said Mr. Dennis Mark, CEO of the Singapore Manufacturing Federation. "As a strategic platform for business enablement and cross-border partnerships, the Centre will play a vital role in deepening professional networks, facilitating market access, and fostering sustainable growth across Asia. The Singapore Manufacturing Federation is proud to support this initiative, which aligns with our commitment to empowering local firms to seize global opportunities through innovation, connectivity, and shared expertise." "The Tax Academy of Singapore's mission is to raise the professional competency of the tax community and develop our standing as a leading centre for taxation and a regional tax knowledge hub," said Mr Dennis Lui, CEO of Tax Academy of Singapore. "We are delighted to participate in ISCA's Professional Services Centre initiative, so as to help build a stronger regional eco-system for the growth of businesses in the region." "The Law Society of Singapore is pleased to support this cross-profession initiative to deepen collaboration between Singapore and China," said Ms Lisa Sam, President of the Law Society of Singapore. "The Professional Services Centre in Shanghai provides a valuable platform for professionals and businesses from both countries to connect, share knowledge, and grow together. We look forward to contributing to greater awareness of legal risks, dispute resolution, and ethical business practices, and to working with ISCA and our partners to strengthen Singapore's professional presence abroad."
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Hashtag: #ISCA #Accountancy #DifferenceMakers #ProfessionalServicesCentre
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About the Institute of Singapore Chartered Accountants
The Institute of Singapore Chartered Accountants (ISCA) is the national accountancy body of Singapore with over 39,000 ISCA members making their stride in businesses across industries in Singapore and around the world. ISCA members can be found in over 40 countries and members based out of Singapore are supported through 12 overseas chapters in 10 countries.
Established in 1963, ISCA is an advocate of the interests of the profession. Complementing its global mindset with Asian insights, ISCA leverages its regional expertise, knowledge, and networks with diverse stakeholders to contribute towards the advancement of the accountancy profession.
ISCA administers the Singapore Chartered Accountant Qualification programme and is the Designated Entity to confer the Chartered Accountant of Singapore – CA (Singapore) – designation.
ISCA is a member of Chartered Accountants Worldwide, a global family that brings together the members of leading institutes to create a community of over 1.8 million Chartered Accountants and students in more than 190 countries.
For more information, visit www.isca.org.sg.
