President Xi Jinping will be visiting Singapore in early November, marking his first state visit since he took office and it is expected that a serial of high-level agreements for bilateral cooperation are in the pipeline for the state visit.

Anbound's research team points out among the key projects include the upgrade of the China-Singapore Free Trade Agreement (FTA) and the third government-to-government urban megaproject.

The third government-to-government project between China and Singapore is relatively low profile compared to the earlier two projects.

In the future, Singapore will be a valuable partner to China for the internationalization of RMB, but, it is worth noting that both countries have yet to reach consensus on the South China Sea dispute.