BOAO, Hainan: China can be a strong advocate for open and rules-based trade in a time of growing global fragmentation, Singapore's Prime Minister Lawrence Wong said on Thursday (Mar 26).
China also has a larger role to play in supporting Asia's prosperity and stability, with its vast domestic market serving as a powerful engine of growth, he said in a keynote speech at the Boao Forum for Asia’s annual conference.
Mr Wong cited the Free Trade Port in Hainan – where Boao city is located – as a "concrete example of China's commitment to openness" and its potential in shaping the region's evolving economic architecture.
“We hope China will continue in this direction – supporting open markets and strengthening confidence in a predictable and stable global trading system,” said Mr Wong, who is also Singapore’s Finance Minister.
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The Boao Forum for Asia is often described as Asia’s equivalent of the Davos World Economic Forum, bringing together leaders from government, business and academia to discuss global issues.
Mr Wong said China's scale and capabilities position it to help set new rules and standards in emerging domains. He cited its efforts to advance trade digitalisation and artificial intelligence for trade, including through its current chairmanship of the Asia-Pacific Economic Cooperation bloc.
“China’s active participation in global discussions on AI governance will also be critical to building international consensus on the safe and responsible development of these technologies,” he said.
Singapore's confidence in China's long-term prospects has made it the leading source of new investments into the country for over a decade, Mr Wong noted.
“We will continue to partner China closely and deepen collaboration in areas of mutual benefit as both our economies evolve,” he said.
Among the areas of shared interest are sustainable development and global governance. Mr Wong added that Singapore will also work with China to deepen its integration into regional economic frameworks, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA).
While integrating an economy of China’s scale is not straightforward, doing so would strengthen the relevance of these high-standard arrangements, he said.
Deeper cooperation between China and ASEAN also holds tremendous potential, Mr Wong added.
“There are also opportunities to collaborate on shared challenges – for example, leveraging China’s strength in renewable energy to support ASEAN’s energy transition, including through initiatives like the ASEAN Power Grid,” he said.
As ASEAN chair next year, Singapore will work with fellow member states towards deeper integration and partnerships, as well as with regional partners including China, Japan, Korea and India.
It will also expand engagement with key partners globally, such as the Gulf Cooperation Council and the European Union, to keep ASEAN open and connected, he added.
Prime Minister Lawrence Wong arrives at Haikou Meilan International Airport in China's Hainan province on Mar 25, 2026. (Photo: Ministry of Digital Development and Information)
Mr Wong also highlighted the "critical role" China has as the world explores new forms of cooperation. The country has prioritised science, technology and innovation, and sits at the forefront of key emerging areas such as digital and green technologies.
“China is therefore well positioned not just to participate in the next wave of technological change, but to shape and lead it,” said Mr Wong.
China’s expanding influence in the creative and digital economies is also seen in the growing global interest in Chinese culture and innovation, including films, music and games, consumer brands and digital platforms, he added.
He said China has contributed to global development through platforms such as the Asian Infrastructure Investment Bank and the Belt and Road Initiative, and has taken steps to assume greater responsibilities in the international system. This includes voluntarily relinquishing certain World Trade Organization developing-country benefits, and standing ready to shoulder obligations commensurate with its level of development.
Mr Wong also addressed the broader strains on the global order, saying the foundations that sustained decades of stability are now under severe pressure. He cited the wars in Ukraine and the Middle East as examples with real consequences for all countries – driving up food and energy prices, disrupting supply chains and raising the risk of a global economic slowdown.
“They are not distant events – they have real consequences for all of us, driving up food and energy prices, disrupting supply chains and raising the risks of a global economic slowdown,” he said.
He pointed to a "worrying breakdown" of the institutions and norms that once provided guardrails for state behaviour.
“They did not eliminate conflict, but they tempered it and brought a measure of predictability to international relations. Today, those guardrails are weakening,” he said.
International relations are increasingly shaped by geopolitical rivalry and zero-sum thinking, a shift which affects both small and middle-sized countries as well as large powers, said Mr Wong.
This is spilling over into the economic domain, making it harder to address shared global challenges such as climate change or ensuring the safe and responsible use of AI.
In response, Mr Wong called for "plurilateral arrangements", where smaller groups of like-minded partners work together, rather than rely solely on traditional multilateral forums. This approach is already reflected in agreements like the Regional Comprehensive Economic Partnership, CPTPP and DEPA.
This does not mean abandoning multilateralism, he said, but complementing it, while continuing to strengthen and reform global institutions such as the WTO and the United Nations.
“In practice, we are likely to see a landscape of multiple, overlapping coalitions – different groupings of countries working together on specific challenges,” he said. “This may not be the ideal model for global cooperation. But in today’s circumstances, it is a practical way to sustain momentum.”
If designed well, such coalitions could reinforce one another and serve as building blocks for a more resilient global architecture over time, he added.
Mr Wong arrived in Hainan on Tuesday to begin a four-day trip to China. In Hainan, he will also meet National People's Congress chairman Zhao Leji and Hainan Provincial Committee secretary Feng Fei, before heading to Hong Kong.
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China also has a larger role to play in supporting Asia's prosperity and stability, with its vast domestic market serving as a powerful engine of growth, he said in a keynote speech at the Boao Forum for Asia’s annual conference.
Mr Wong cited the Free Trade Port in Hainan – where Boao city is located – as a "concrete example of China's commitment to openness" and its potential in shaping the region's evolving economic architecture.
“We hope China will continue in this direction – supporting open markets and strengthening confidence in a predictable and stable global trading system,” said Mr Wong, who is also Singapore’s Finance Minister.
CNA Games
Show More Show Less
The Boao Forum for Asia is often described as Asia’s equivalent of the Davos World Economic Forum, bringing together leaders from government, business and academia to discuss global issues.
Mr Wong said China's scale and capabilities position it to help set new rules and standards in emerging domains. He cited its efforts to advance trade digitalisation and artificial intelligence for trade, including through its current chairmanship of the Asia-Pacific Economic Cooperation bloc.
“China’s active participation in global discussions on AI governance will also be critical to building international consensus on the safe and responsible development of these technologies,” he said.
PARTNERING FOR REGIONAL GROWTH
Singapore's confidence in China's long-term prospects has made it the leading source of new investments into the country for over a decade, Mr Wong noted.
“We will continue to partner China closely and deepen collaboration in areas of mutual benefit as both our economies evolve,” he said.
Among the areas of shared interest are sustainable development and global governance. Mr Wong added that Singapore will also work with China to deepen its integration into regional economic frameworks, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Digital Economy Partnership Agreement (DEPA).
While integrating an economy of China’s scale is not straightforward, doing so would strengthen the relevance of these high-standard arrangements, he said.
Deeper cooperation between China and ASEAN also holds tremendous potential, Mr Wong added.
“There are also opportunities to collaborate on shared challenges – for example, leveraging China’s strength in renewable energy to support ASEAN’s energy transition, including through initiatives like the ASEAN Power Grid,” he said.
As ASEAN chair next year, Singapore will work with fellow member states towards deeper integration and partnerships, as well as with regional partners including China, Japan, Korea and India.
It will also expand engagement with key partners globally, such as the Gulf Cooperation Council and the European Union, to keep ASEAN open and connected, he added.
Prime Minister Lawrence Wong arrives at Haikou Meilan International Airport in China's Hainan province on Mar 25, 2026. (Photo: Ministry of Digital Development and Information)
CHINA’S ROLE IN GLOBAL DEVELOPMENT
Mr Wong also highlighted the "critical role" China has as the world explores new forms of cooperation. The country has prioritised science, technology and innovation, and sits at the forefront of key emerging areas such as digital and green technologies.
“China is therefore well positioned not just to participate in the next wave of technological change, but to shape and lead it,” said Mr Wong.
China’s expanding influence in the creative and digital economies is also seen in the growing global interest in Chinese culture and innovation, including films, music and games, consumer brands and digital platforms, he added.
He said China has contributed to global development through platforms such as the Asian Infrastructure Investment Bank and the Belt and Road Initiative, and has taken steps to assume greater responsibilities in the international system. This includes voluntarily relinquishing certain World Trade Organization developing-country benefits, and standing ready to shoulder obligations commensurate with its level of development.
GLOBAL STABILITY UNDER STRAIN
Mr Wong also addressed the broader strains on the global order, saying the foundations that sustained decades of stability are now under severe pressure. He cited the wars in Ukraine and the Middle East as examples with real consequences for all countries – driving up food and energy prices, disrupting supply chains and raising the risk of a global economic slowdown.
“They are not distant events – they have real consequences for all of us, driving up food and energy prices, disrupting supply chains and raising the risks of a global economic slowdown,” he said.
He pointed to a "worrying breakdown" of the institutions and norms that once provided guardrails for state behaviour.
“They did not eliminate conflict, but they tempered it and brought a measure of predictability to international relations. Today, those guardrails are weakening,” he said.
International relations are increasingly shaped by geopolitical rivalry and zero-sum thinking, a shift which affects both small and middle-sized countries as well as large powers, said Mr Wong.
This is spilling over into the economic domain, making it harder to address shared global challenges such as climate change or ensuring the safe and responsible use of AI.
In response, Mr Wong called for "plurilateral arrangements", where smaller groups of like-minded partners work together, rather than rely solely on traditional multilateral forums. This approach is already reflected in agreements like the Regional Comprehensive Economic Partnership, CPTPP and DEPA.
This does not mean abandoning multilateralism, he said, but complementing it, while continuing to strengthen and reform global institutions such as the WTO and the United Nations.
“In practice, we are likely to see a landscape of multiple, overlapping coalitions – different groupings of countries working together on specific challenges,” he said. “This may not be the ideal model for global cooperation. But in today’s circumstances, it is a practical way to sustain momentum.”
If designed well, such coalitions could reinforce one another and serve as building blocks for a more resilient global architecture over time, he added.
Mr Wong arrived in Hainan on Tuesday to begin a four-day trip to China. In Hainan, he will also meet National People's Congress chairman Zhao Leji and Hainan Provincial Committee secretary Feng Fei, before heading to Hong Kong.
Continue reading...