As Singapore and China mark 35 years of diplomatic relations, their partnership stands as a beacon of economic resilience and strategic foresight in an era of global uncertainty. The two nations have cultivated one of Asia's most dynamic bilateral relationships, anchored by US$115 billion in annual trade and cross-border investments that continue shaping regional development.
Since becoming the first Southeast Asian country to sign a free trade agreement with China in 2008, Singapore has played a unique role in China's reform and opening-up journey. Three landmark government-to-government projects – the Suzhou Industrial Park (1994), Tianjin Eco-City (2008), and Chongqing Connectivity Initiative (2015) – demonstrate how both nations adapt cooperation to China's evolving development priorities.
The Suzhou Industrial Park exemplifies this 'benchmarking' approach. Over 28 years, this joint venture has attracted US$16 billion in foreign investment while transferring Singapore's expertise in urban planning and governance to Chinese partners. Today, it hosts 96 Fortune 500 companies and contributes 7% of Suzhou's GDP.
With Singapore accounting for 23% of China's foreign direct investment inflows in 2023, both nations are now collaborating on next-generation initiatives in digital economy, green energy, and financial connectivity. Over 1,000 Chinese companies use Singapore as their ASEAN headquarters, leveraging its trade networks and legal frameworks.
As founding members of the Regional Comprehensive Economic Partnership (RCEP), the partners are strengthening supply chain resilience through initiatives like the China-Singapore International Land-Sea Trade Corridor. This 21st-century Maritime Silk Road project has handled over 1.8 million TEUs of cargo since 2017, connecting western China to global markets via Singapore's port.
Amid global economic headwinds, this relationship demonstrates how Asian economies can drive growth through complementary strengths – combining China's manufacturing scale with Singapore's financial and logistics expertise. As Premier Li Qiang noted during his 2023 visit, the partnership 'transcends bilateral significance, offering stability and innovation pathways for regional development.'
