On October 23, 2008, Chinese President Hu Jintao met at the Great Hall of the People with Singaporean Prime Minister Lee Hsien Loong who is here for an official visit and to attend the seventh Asia-Europe Meeting (ASEM) to be held on Oct. 24 to 25.

Hu hailed the substantial development of bilateral ties since the establishment of diplomatic relations 18 years ago. He said the singing of the free trade agreement (FTA) between China and Singapore marked that "the economic ties between the two countries had entered a new stage" and fully indicated the confidence and determination of both sides to expand opening up and push forward the free trade process. He hoped that both sides will make concerted efforts to make the Tianjin Eco-city under construction another model project of bilateral cooperation. Against the background of profound changes in the international situation, China-Singapore cooperation is facing new opportunities and challenges. He said China attached great importance to Sino-Singaporean relations and is willing to deepen mutually-beneficial cooperation between the two sides and tap their respective advantages to contribute to common development and the stability and development of Asia.

Hu said in face of the complicated global economic situation, all nations in the world should coordinate with each other in policy making and bridge over the difficulties with confidence. He pledged that China will make concerted efforts with the international community to maintain global financial and economic stability with a responsible attitude, and to sustain its domestic financial, economic and social stability by transforming the economic growth pattern, restructuring the economy, attaching more importance to agriculture and taking regulatory measures.

Lee Hsien Loong said Singapore-China relations have been developing well. Both sides have conducted cooperation in a range of key projects and opened up a new prospect for bilateral mutually beneficial cooperation. The newly signed FTA pact would further improve the bilateral ties between the two countries, and push forward regional cooperation in East Asia. He said the overall situation of the Asian economy is still good, but urged Asian countries to strengthen cooperation in the backdrop of the global financial crisis, take measures to improve capability of coping with the financial crisis, restore confidence in the financial market and maintain economic vitality to contribute to global financial stability.

State Councilor Dai Bingguo attended the meeting.