Envoy wants to boost cooperation with China on financial services, food safety, social governance

Singaporean Ambassador to China Stanley Loh Ka Leung said he hopes for stronger cooperation with China on financial services, food safety and social governance, as the countries prepare to celebrate 25 years of diplomatic relations next year.

Noting the frequent top-level meetings between the two governments and their trust-building efforts, Loh said in an interview with China Daily that the bilateral schedule is busy and has "very good momentum".

In Loh's view, a host of economic driving forces will push and navigate bilateral cooperation, with financial services topping the to-do list.

Singapore recently launched a package of cross-border yuan transactions that allows its businesses to borrow from a Singaporean offshore RMB market - an important pilot program.

"There will be greater perception about the use of the RMB in Southeast Asia," Loh added.

The ambassador also endorsed a proposal from Vice-Premier Zhang Gaoli that Singapore and China cooperate on major projects in western China.

The two nations have agreed to build a team for "modern connectivity and modern services", and he said that hopefully more details will be known soon.

A high level of bilateral political mutual trust is evident from the frequent top-level interactions. President Xi Jinping met with Singaporean President Tony Tan Keng Yam in Nanjing recently, and Singaporean Prime Minister Lee Hsien Loong visited China during the APEC Economic Leaders' Meeting.

"There are no major problems between the two countries," Loh said.

The ambassador endorsed the rapid growth of the relationship. Singapore was the largest foreign investor in China last year, with direct investment of $7.3 billion.

China also became Singapore's largest trading partner.

"Our diplomatic relations are only 24 years old. They have gone beyond a lot of other relationships that we both have with other countries," Loh said.

Both governmental and civic group events will be held, and Singapore is set to make "the next 25 years another Golden Jubilee", he said.

The two governments have agreed to exchange state visits between the two presidents in the coming year, and diplomatic channels are advancing coordination in this regard, the ambassador confirmed.