Singapore, China reaffirm commitment to boost economic partnership, trade flows

SHENZHEN: Deputy Prime Minister Gan Kim Yong met Chinese leaders in Beijing on Thursday (Sep 4), reaffirming both countries’ commitment to the rules-based international order and multilateral trading system as Singapore and China mark the 35th anniversary of diplomatic relations.

Mr Gan was hosted to lunch by Vice President Han Zheng at the Diaoyutai State Guesthouse.

Both leaders underlined the warm and deep friendship between Singapore and China. They highlighted cooperation in areas such as trade and investment, digital and financial connectivity, and people-to-people exchanges.

“We hope to continue to renew our collaboration and to explore opportunities for further partnership,” Mr Gan said.

Subscribe to our Chief Editor’s Week in Review

Our chief editor shares analysis and picks of the week's biggest news every Saturday.

This service is not intended for persons residing in the E.U. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp’s partners.

Loading

“We affirmed the excellent state of relations as we mark the 35th anniversary of diplomatic relations,” Mr Gan wrote in a social media post.

The leaders also look forward to the 21st Joint Council for Bilateral Cooperation (JCBC) meeting to be held in China’s Chongqing this year. Mr Gan will co-chair the meeting with Vice Premier Ding Xuexiang.

The JCBC is the highest-level annual platform for dialogue between Singapore and China.

Established in 2003, it is co-chaired by Singapore’s Deputy Prime Minister and a Chinese Vice Premier. It brings together ministers and senior officials from both sides to set the strategic direction for bilateral cooperation.

Mr Gan also met Vice Premier He Lifeng. Both reiterated their commitment to strengthening bilateral economic partnership and trade flows, including through the three government-to-government projects between Singapore and China, namely the Suzhou Industrial Park, Tianjin Eco-City and Chongqing Connectivity Initiative. 

Other bilateral cooperation projects like the China-Singapore Guangzhou Knowledge City and the Singapore-China (Shenzhen) Smart City Initiative were also highlighted.

They also discussed progress in ongoing financial initiatives, including the over-the-counter bond market arrangement, green finance and capital market cooperation.

“Singapore continues to be confident in China’s long-term trajectory and will be a steady partner in the years to come,” Mr Gan said in his social media post.

Mr Gan, who is also Minister for Trade and Industry, met China’s Commerce Minister Wang Wentao too, where they exchanged views on the trajectory of the global economy.

They reaffirmed Singapore and China's shared commitment to maintaining the rules-based international order and multilateral trading system.

Mr Gan also welcomed China's Asia-Pacific Economic Cooperation (APEC) chairmanship in 2026. 

APEC is a forum that promotes trade and economic cooperation among 21 member economies. This year, it will be China’s third time hosting after 2001 in Shanghai and 2014 in Beijing. 

China has been Singapore’s largest trading partner for 12 consecutive years, while Singapore has been China’s largest source of new foreign investment over the same period. In 2024, bilateral trade reached US$111.11 billion, according to data from the China International Development Cooperation Agency (CIDCA). 

On Wednesday (Sep 3), Mr Gan also attended the military parade in Beijing to mark the 80th anniversary of the end of World War II.

In a social media post, he wrote: “Singapore remains committed to working with all our partners to maintain regional peace and stability for our collective prosperity and progress.”

Mr Gan is on a working trip to China from Aug 31 to Sep 4, with stops in Guangzhou, Shenzhen and Beijing.

In Guangzhou, he met Guangdong Governor Wang Weizhong and visited the China-Singapore Guangzhou Knowledge City (CSGKC) which marks its 15th anniversary.

In Shenzhen, Mr Gan met Shenzhen party secretary Meng Fanli and said Singapore and Shenzhen could work together to become a gateway connecting the Greater Bay Area and Southeast Asia.