China, Singapore to advance economic integration in East Asia

China and Singapore will further advance the integration of East Asian economies and promote the construction of the New International Land-Sea Trade Corridor.

Chinese President Xi Jinping meets with Singapore's Prime Minister Lee Hsien Loong at the Great Hall of the People in Beijing, capital of China, April 29, 2019.[Photo: Xinhua/Li Xueren]

Chinese President Xi Jinping and Singapore's Prime Minister Lee Hsien Loong reached the consensus in Beijing on Monday.

The New International Land-Sea Trade Corridor is a network of railway links from southwestern China's Chongqing to the port of Qinzhou in southern Guangxi, which further connects to Southeast Asia by sea.

It is the third joint project between China and Singapore that aims to spur the growth of China's less-developed western region through better transport, financing and data connectivity.

Xi highly appreciated the relationship between China and Singapore since the two sides established diplomatic relations in 1990, noting that there are more potential for cooperation between the two countries.

Chinese President Xi Jinping meets with Singapore's Prime Minister Lee Hsien Loong at the Great Hall of the People in Beijing, capital of China, April 29, 2019.[Photo: Xinhua/Xie Huanchi]

The two sides will make joint efforts to align the Belt and Road Initiative with the Master Plan on ASEAN Connectivity 2025.

Lee congratulated China on the successful hosting of the second Belt and Road Forum for International Cooperation (BRF), which concluded in Beijing on Saturday, adding that the BRI will further benefit the world.

Singapore will deepen cooperation with China in various fields, such as connectivity, investment, and finance, he noted.