(Yicai Global) Dec. 6 -- China and Singapore agreed to further develop bilateral economic and trade relations. China's minister of commerce Zhong Shan and Singapore's minister of trade and industry Lin Xunqiang met on the sidelines of Fifth Session of China-Singapore Investment Promotion Conference held in Beijing yesterday.

China and Singapore share similar standpoints and views in terms of economic globalization, trade liberalization and investment facilitation, having broad common interests and China will further deepen all-round cooperation with Singapore, said China's minister of commerce Zhong.

China and Singapore are each other's important economic and trade partner, and frequent high-level visits have yielded a series of consensus and results. China's ministry of commerce will strengthen cooperation with the ministry of trade and industry of Singapore, support the works of bilateral investment promotion committee and fully implement the important consensus reached by the leaders of the two countries, Zhong said. China will also promote the sustained and sound development of bilateral economic and trade relations between the two countries.

The economic cooperation between the two countries has a solid foundation and broad prospects, and the pair will achieve win-win situation through strengthening exchanges in the fields of investment and services and continuously innovating cooperation fields and ways to achieve mutual benefits.

Singapore is willing to strengthen contacts and exchanges with China and encourage Singaporean enterprises to invest in China to take advantage of such historical opportunities as the Belt and Road Initiative and China's economic transformation and development, Singaporean minister Lin said. He said his country hopes more Chinese enterprises would "go out" through Singapore and constantly expand international development space.