Singapore’s Senior Minister Lee Hsien Loong recently visited China, marking a significant step in strengthening the longstanding relationship between the two countries. Meeting with Chinese President Xi Jinping, both leaders emphasized the importance of deepening cooperation and forging a future-oriented partnership.
During his visit from November 24 to 29, Lee highlighted Singapore’s confidence in China’s continued growth and prosperity. Speaking at the China-Singapore Suzhou Industrial Park High-Quality Development Forum, he stated, “It would be both short-sighted and unwise to write off China.” He urged nations to adopt a long-term perspective, embrace multilateralism, and work together to tackle global challenges.
Economic Ties and Mutual Growth
China and Singapore have developed a robust economic partnership over the years. China has been Singapore’s largest trading partner for 11 consecutive years, while Singapore stands as China’s second-largest source of foreign investment. The collaboration spans various high-tech fields, including artificial intelligence, electric vehicles, and biotechnology.
The Success of the Suzhou Industrial Park
A highlight of Lee’s trip was his participation in the 30th anniversary celebration of the China-Singapore Suzhou Industrial Park (SIP). Established as a joint venture in 1994, the SIP has become a model for international cooperation and innovation. Over the past three decades, it has grown from contributing 1 billion yuan to China’s GDP to an impressive 368.6 billion yuan in 2023.
The SIP’s success has paved the way for other collaborative projects like the China-Singapore Tianjin Eco-City and the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity. These initiatives have not only spurred economic development but also strengthened the bonds between the two nations.
Looking Ahead to a Bright Future
China and Singapore have jointly signed a ten-year plan to further enhance cooperation within the SIP and contribute to high-quality economic development. The next phase will focus on emerging sectors such as green development, the digital economy, and biomedical science.
As both countries navigate the challenges of the modern world, their partnership serves as a beacon of collaboration and mutual respect. The strengthened ties between China and Singapore are set to usher in a new era of innovation and shared prosperity.
Reference(s):
cgtn.com
