Singapore, China Forge Deeper Ties with 27 New Pacts

Singapore and China have significantly strengthened their bilateral relations by signing 27 new agreements at their annual apex meeting in Chongqing, China. The 21st Joint Council for Bilateral Cooperation (JCBC) meeting, held on Monday, December 15, 2025, saw leaders from both nations commit to deepening cooperation across a wide array of sectors.

The extensive package of memoranda of understanding (MOUs) and agreements focuses on critical areas including financial connectivity, green and digital development, and education. This year's tally of 27 agreements marks the highest number signed in recent years, surpassing the 25 agreements inked in 2024, as reported by CNA.

Singapore's Deputy Prime Minister Gan Kim Yong and Chinese Vice Premier Ding Xuexiang co-chaired the high-level forum, underscoring the strategic importance both countries place on their partnership. The meeting took place amidst a complex global landscape characterized by geopolitical uncertainties and rapid technological shifts, according to asiaone.

A key outcome includes a pilot scheme enabling Singaporean travelers to use digital renminbi (e-CNY) for merchant payments in China, set to launch by the end of 2025. The Straits Times reported that this initiative aims to enhance financial connectivity and boost Singapore's status as a financial hub.

The agreements also reinforce the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI), which celebrates its 10th anniversary this year. The CCI, a flagship government-to-government project, will expand into new domains like healthcare and technology, as noted by The Business Times.

Leaders emphasized the importance of continued cooperation to anticipate challenges and capitalize on new opportunities for businesses and citizens alike. This robust engagement reflects the "All-Round High-Quality Future-Oriented Partnership" established between the two nations last year, according to a statement from the Prime Minister's Office Singapore.

The 2025 JCBC meeting also coincides with the 35th anniversary of diplomatic relations between Singapore and China, a milestone highlighted by Deputy Prime Minister Gan Kim Yong. This long-standing relationship has been marked by consistent high-level exchanges, including recent visits by Prime Minister Lawrence Wong and Chinese Premier Li Qiang, as reported by Asia News Network.

• Historical Context and Bilateral Evolution: The relationship between Singapore and China has a deep foundation, with diplomatic ties established 35 years ago. This year's JCBC meeting builds on a history of robust cooperation, including flagship projects like the Suzhou Industrial Park and Tianjin Eco-City, which have served as models for bilateral collaboration. The Straits Times noted that Singapore has consistently reaffirmed its "One China" policy, contributing to stable political relations.

• Deepening Financial Connectivity: Beyond the digital renminbi pilot, financial cooperation is expanding significantly. The Monetary Authority of Singapore (MAS) announced the appointment of DBS Bank as Singapore's second Renminbi (RMB) clearing bank, aimed at supporting the growth of the offshore RMB market. Furthermore, MAS and the China Securities Regulatory Commission (CSRC) are advancing cooperation to facilitate more Exchange Traded Fund (ETF) product launches and support secondary listings for Chinese companies in Singapore, as detailed by MAS.

• Green and Digital Development Initiatives: Both nations are prioritizing collaboration in green and digital economies. Agreements include deepening collaboration in green and digital finance, updating the Multi-Jurisdiction Common Ground Taxonomy, and promoting joint research in sustainable development and green technologies, according to the Ministry of Foreign Affairs Singapore. The Straits Times also reported on the establishment of a national green and digital shipping corridor to decarbonize and digitalize maritime routes.

• Expansion of the Chongqing Connectivity Initiative (CCI): The CCI, celebrating its tenth anniversary, is a cornerstone of the bilateral partnership and a key component of China's Belt and Road Initiative (BRI). The Ministry of Trade and Industry (MTI) stated that the CCI will deepen connectivity and expand into new sectors such as education, technology, and healthcare, while reinforcing its existing strengths in financial services, aviation, transport, and ICT. This initiative aims to strengthen connectivity between western China and Southeast Asia, as highlighted by NIICE Nepal.

• Education and People-to-People Exchanges: Education is a growing area of cooperation, with agreements facilitating university collaborations in international technology translation, joint education programs, and applied sciences. asiaone reported that Singapore's autonomous universities will partner with Chinese counterparts on programs ranging from artificial intelligence to climate change. These efforts, alongside youth and sports exchanges, aim to deepen mutual understanding and strengthen societal bonds, according to cgtn.

• Economic Resilience Amidst Global Headwinds: Deputy Prime Minister Gan Kim Yong acknowledged that the agreements are being forged during a period of global economic headwinds and geopolitical uncertainties. He emphasized the importance for Singapore and China to find common ground and continue cooperation for mutual benefit, as reported by asiaone. The Business Times noted that this year's record number of agreements signals a commitment to economic resilience and growth despite external challenges.

• Broader Regional Implications: The deepening Singapore-China ties also contribute to broader regional stability and economic integration. China and ASEAN have reaffirmed their commitment to strengthening their Comprehensive Strategic Partnership, focusing on trade, investment, green economy, and digital ecosystems, as reported by asean.org. Singapore's role as a financial and logistics hub positions it as a crucial player in facilitating China's engagement with Southeast Asia, according to hsbc Business Go.