Apex bilateral meeting in Chongqing marks milestones and sets future-facing priorities
Amid global uncertainty and rapid economic shifts, Singapore and China are reinforcing a partnership built on trust, long-term vision, and practical cooperation, setting the tone for the next phase of bilateral growth.
A Landmark JCBC Meeting
Singapore and China signed 27 agreements during the 21st Joint Council for Bilateral Cooperation (JCBC) meeting on Dec 15 in Chongqing, the highest number in recent years. Co-chaired by Singapore Deputy Prime Minister Gan Kim Yong and Chinese Vice Premier Ding Xuexiang, the JCBC remains the apex platform guiding bilateral relations across economic, digital, and people-to-people domains.
This year’s meeting carried added significance as 2025 marks the 35th anniversary of diplomatic relations between both countries. High-level exchanges, including visits by Prime Minister Lawrence Wong to China and Premier Li Qiang to Singapore, underscored the maturity and resilience of the partnership.
Chongqing Connectivity Initiative at a Decade Mark
A major focus of the meeting was the China-Singapore Chongqing Demonstration Initiative on Strategic Connectivity (CCI), now in its 10th year. Launched in 2015, the CCI is Singapore and China’s third flagship government-to-government project, following the Suzhou Industrial Park and Tianjin Eco-City.
Singapore’s investments in Chongqing more than doubled from US$5.7 billion in 2015 to US$12.7 billion in 2024. Since inception, the initiative has facilitated US$21.8 billion in cross-border financing for enterprises in western China through Singapore, strengthening links between inland China and Southeast Asia.
Expanding Trade, Transport, and Digital Links
New agreements set the direction for the CCI’s next decade, expanding cooperation into education, healthcare, and technology while deepening work in financial services, aviation, logistics, and information and communications technology. Container volumes along the New International Land-Sea Trade Corridor have grown nearly tenfold since 2019, supported by digital trade tools and carbon tracking systems.
Air connectivity between Singapore and Chongqing has also surpassed pre-pandemic levels, with 24 weekly flights operated by multiple carriers. New rail links connecting Chongqing to Central Asia and Southeast Asia were announced, further enhancing regional trade resilience.
Strengthening Financial and Digital Cooperation
Beyond the CCI, both countries advanced financial connectivity with DBS appointed as Singapore’s second Renminbi clearing bank. A pilot enabling Singaporeans to open and top up e-CNY wallets locally is expected by end-2025, easing digital payments in China.
Commitments were also made to deepen green and digital finance collaboration, expand exchange-traded fund links, and support secondary listings. Customs cooperation was upgraded to enhance trade security, clearance efficiency, and Authorised Economic Operator programs.
Innovation, Sustainability, and People-to-People Ties
Science and innovation featured prominently, with new agreements between Singapore’s National Research Foundation and China’s Ministry of Science and Technology, as well as ASTAR and Tsinghua University. Research collaboration spans artificial intelligence, precision medicine, sustainable construction, and healthy ageing.
People-to-people ties remain a cornerstone, supported by a mutual 30-day visa exemption and initiatives such as the Singapore-China Youth Interns Exchange Scheme. These exchanges aim to deepen understanding and nurture long-term institutional trust.
The outcomes of the 21st JCBC reflect a partnership that has evolved beyond traditional trade, anchoring cooperation in sustainability, digital innovation, and resilient connectivity. For Indonesians and Singaporeans, the strengthened Singapore-China relationship reinforces regional stability, opens new economic pathways, and supports inclusive growth across Southeast Asia and beyond.
Sources: Channel News Asia (2025) , Straits Times (2025)
Keywords: Joint Council Bilateral Cooperation, Chongqing Connectivity Initiative, Singapore China Agreements, Green Digital Finance
