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Singapore–China Cooperation Update: Enhanced China–Singapore Free Trade Agreement Officially Enters into Force

Published Time：

2025-07-23 12:48

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30 December 2024, Singapore’s Ministry of Trade and Industry (MTI) announced that the upgraded version of the China–Singapore Free Trade Agreement (CSFTA) will officially come into effect on 31 December 2024.

Originally signed in 2008 and effective from 1 January 2009, the CSFTA was China’s first comprehensive bilateral FTA with an Asian country. It has since undergone two prior upgrades—in 2011 and 2019.

The latest upgrade is expected to benefit businesses in three key ways:

Greater access and fairness – Singapore investors and service providers will be able to operate in China under more liberal, transparent, and competitive conditions.

Negative list approach – By default, all industries are open to foreign investment unless explicitly restricted, offering broader market access.

New chapter on telecommunications services – This adds clearer rules to telecom regulation, improves transparency, and promotes collaboration in the sector for innovation and growth.

China has also committed to removing foreign equity caps for Singapore investors across 22 sectors, including construction, retail and wholesale, architecture, and urban planning services.

China has been Singapore’s largest trading partner in goods since 2013, while Singapore has consistently remained China’s largest foreign investor since then. In turn, China has been Singapore’s top investment destination since 2007.

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