China and Singapore have agreed to work together to stabilize the global supply chain during Singapore Prime Minister Lee Hsien Loong's visit to China.
According to the Chinese Ministry of Foreign Affairs on the 1st, China and Singapore adopted a "Joint Statement on Establishing an All-Round, High-Quality, Forward-Looking Partnership." Through the joint statement, the two countries pledged to maintain the "rules-based multilateral trading system" realized by the World Trade Organization (WTO) and an open and inclusive global economy, and to continue efforts to ensure the stability and smooth flow of the global supply chain.
Additionally, the statement said that the two countries "will continue to work together to jointly respond to global challenges and promote economic globalization in the direction of openness, inclusiveness, universal benefits, balance, and mutual benefit."
Furthermore, the statement announced that the relationship between the two countries will be upgraded from an all-round cooperative partnership to an "all-round, high-quality, forward-looking partnership."
It also reported that both sides agreed to deepen high-quality cooperation related to the 10th anniversary of the Belt and Road Initiative. The Belt and Road Initiative refers to the land and maritime Silk Roads connecting China with Central Asia and Europe.
Prime Minister Lee Hsien Loong visited China from the 28th to the 31st of last month, coinciding with his attendance at the Boao Forum.
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