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Source: People's Republic of China – State Council News
Singapore, October 26 (Xinhua) — China will resolutely advance high-level opening-up, further facilitate market access, continuously optimize the business environment, and actively address the concerns of enterprises. Chinese Premier Li Qiang announced this on Sunday at a symposium attended by representatives of the Chinese and Singaporean business communities during his official visit to Singapore.
He attended the symposium together with Singapore's Deputy Prime Minister Gan Kim Yong.
After hearing speeches from representatives of enterprises from both countries, Li Qiang noted that over the past 35 years, thanks to the joint efforts of China and Singapore, friendly interstate cooperation has achieved significant progress and yielded fruitful results.
According to him, experience convincingly demonstrates that the development of each country provides an important opportunity for the other. He emphasized that if both sides adhere to the principles of mutual respect, trust, openness, and cooperation, they will be able to prosper together and create a bright future through mutual success.
As Li Qiang recalled, the visa-free regime agreement between China and Singapore officially entered into force last year, and the free trade agreement was also updated, which provided new important opportunities for cooperation and development between the two countries.
Speaking about prospects, the Premier noted that China-Singapore cooperation will continue to continuously improve and acquire new distinctive features. This will not only require the joint efforts of both countries' business communities but will also bring new opportunities for the development of enterprises in both countries and around the world, he added.
First, Li Qiang called for raising the qualitative level of bilateral cooperation, moving from "complementary factors" to "coordinated innovation." He argued that China's comprehensive industrial system, diverse application scenarios, and growing number of cutting-edge scientific and technological achievements, combined with Singapore's highly internationalized innovation ecosystem and advanced financial services, could unleash even more powerful drivers of innovation development.
Secondly, Li Qiang emphasized the need to move from "bilateral cooperation" to "trilateral cooperation." He stated that China supports companies from both countries in exploring more flexible approaches to cooperation, actively leveraging platforms such as new land-sea corridors to actively engage with the Association of Southeast Asian Nations (ASEAN) and Africa, and jointly exploring a broader market space.
Third, Li Qiang called on both sides to move from "participating in the international division of labor" to "jointly leading the development of rules." He noted that China and Singapore can take more proactive and constructive steps to more closely align standards and regulations in emerging areas such as the digital and green economies, actively guiding the development and transformation of the global industrial system.
According to the Premier of the State Council, at the recently concluded 4th Plenary Session of the 20th CPC Central Committee, proposals for drafting the 15th Five-Year Plan (2026-2030) were reviewed and adopted, outlining a general strategic program for China's development over the next five years.
China's economy has a solid foundation for stable operation, its growth rate is among the fastest among major economies in the world, and the flows of people, goods, information, and capital remain dynamic, while new growth drivers are becoming increasingly powerful, which will provide enterprises with greater market opportunities in the future, Li Qiang emphasized.
He assured that China will adhere to equal treatment of domestic and foreign enterprises and support Chinese and Singaporean companies to achieve greater progress.
For his part, Gan Kim Yong stated that thanks to the painstaking efforts of several generations of leaders of the two countries, the current Singapore-China relations are distinguished by a solid foundation and close cooperation, with each side having become an important trade and investment partner for the other.
Gan Kim Yong emphasized that Singapore is committed to jointly advancing a high-quality, future-oriented comprehensive partnership with China and looks forward to using the 35th anniversary of the establishment of diplomatic relations this year as an opportunity to expand trade and investment, explore cooperation opportunities in emerging areas such as the digital and green economies, strengthen coordination in multilateral fora, and achieve common development based on the spirit of mutual respect and mutual benefit.
Business representatives attending the event noted that trade and economic cooperation between China and Singapore contributes to the development and prosperity of both countries and the entire region. Singaporean businesses expressed optimism about China's development prospects and expressed their intention to continue investing in the country, confident that the process of Chinese-style modernization will open up even more opportunities for countries around the world, including Singapore.
Business representatives from both countries expressed their willingness to further strengthen interaction and deepen cooperation in areas such as finance, investment, digital economy, green development, infrastructure, logistics, and healthcare, in order to achieve new fruitful results in practical cooperation between China and Singapore.
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