The People's Republic of China has achieved remarkable progress over the past seven decades in economic and social development, said Singapore's Communications and Information Minister S. Iswaran here Thursday evening.

The minister made the remarks while delivering a toast speech at the reception hosted by the Chinese Embassy in Singapore in celebration of the 70th anniversary of the Founding of the People's Republic of China.

Iswaran noted that China has now become the second largest economy in the world and lifted hundreds of millions of people out of poverty.

Today, China is not only one of the key growth engines in the world, but also an important partner for many countries on a wide variety of issues ranging from climate change to peacekeeping, he added.

He pointed out that Singapore has been an early and consistent supporter of China's peaceful development, adding that China's commitment to continue structural reforms and strive for high-quality development is an important signal to the world in a changing world with many uncertainties.

We also welcome President Xi's pledge that China will continue to work with other countries and partners to support, strengthen and update the multilateral trading system, Iswaran said.

On Singapore-China relations, the minister noted that the relations are excellent, as evident in our frequent exchanges and substantive cooperation.

Singapore and China will mark the 30th anniversary of the diplomatic relations next year. I am confident that our 'All-round Cooperative Partnership Progressing with the Times' will continue to strengthen and reach new heights, he noted.

Chinese Ambassador to Singapore Hong Xiaoyong also made a speech at the reception, which was attended by guests from all walks of life in Singapore and the diplomats based in Singapore.

Source: China ASEAN Business Council