Singapore, 19 September 2025 — The 16th edition of the FutureChina Global Forum (FCGF) 2025 concluded at the Sands Expo and Convention Centre, gathering 30 esteemed speakers and attracting 600 business leaders, diplomats, academics and industry experts from around the world. Aimed at fostering dialogue and collaboration among leaders, FCGF spotlighted global insights and thought leadership, offering a deeper understanding of the forces shaping the future of China and its global impact.
Under this year’s theme ‘The World in Flux: Challenges and Opportunities’, the Opening Plenary sets the stage on how rising geopolitical tensions are reshaping the global order. Building on this macro lens, the next panel examined ASEAN–China economic ties, highlighting both opportunities and risks as trade and investment deepen through the ASEAN – China Free Trade Area (ACFTA) and Regional Comprehensive Economic Partnership (RCEP). The discussion then shifted to China’s domestic reforms, with a focus on policies strengthening the private sector and navigating global uncertainties.
Moving onto industry-level impact, tech leaders explored artificial intelligence in the next panel, showcasing its transformative potential and risks. Finally, a bilateral session commemorating 35 years of diplomatic relations between Singapore and China brought together key architects of this partnership to reflect on shared achievements and chart future cooperation. Collectively, the discussions gave participants timely, incisive perspectives on the forces reshaping our world, reaffirming the forum’s relevance as a platform for navigating today’s complex landscape.
“In today’s rapidly changing geopolitical landscape, understanding the forces at play is critical for survival. FutureChina Global Forum brings together the best experts we could gather to make sense of what’s happening and find ways forward. We also hope to build enduring partnerships and advance collaboration that benefits all,” said Mr. Lee Yi Shyan, Chairman of Business China.
The forum’s key highlights included a keynote address by Mr. Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry who reflected on 35 years of Singapore-China relations and called for pragmatic reform of a global economic system now under exceptional strain. Mr. Gan advocated updating international trade rules to confront rising protectionism and digitalisation, while emphasising plurilateral cooperation, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and RCEP, to safeguard an open, rules-based order amid geopolitical fragmentation.
“There is no going back to the old WTO system of the 1990s; but abandoning rules altogether is far worse. We must therefore do what we can to reform the global, rules-based economic order. This is why Singapore has supported ‘flexible multilateralism’ within the WTO.” said Mr. Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry.
At the fireside chat, Dr. Vivian Balakrishnan, Minister for Foreign Affairs, underscored Singapore’s value as a high-trust, efficient global node and championed ASEAN’s role as a zone of peace and opportunity. He also added that fiscal prudence, respect for facts, and technological mastery are essential for national resilience and international collaboration in an increasingly multipolar world.
Other notable speakers at the Forum included:
- Ray Dalio, Founder, CIO Mentor, and Member of the Bridgewater Board, Bridgewater Associates, LP;
- Professor Alfred Schipke, Director of the East Asian Institute, National University of Singapore, and Professor of the Practice of International Finance, Lee Kuan Yew School of Public Policy;
- Gita Wirjawan, Chairman, Ancora Group and Former Minister of Trade, Indonesia;
- Shen Jianguang, Vice President and Chief Economist, JD.com;
- Wang Huabin, Deputy Chief Executive, Bank of China (Hong Kong);
- Tommy Xie, Head of Asia Macro Research, Global Markets, OCBC.
For the Opening Plenary – The World in Flux: Challenges and Opportunities, panellists offered several take-aways. In contemplating diplomatic relations, the US-China trade deal will provide temporary relief, but resolving deep-rooted conflicts will require further work. The panellists highlighted that strategic rivalry is increasingly being reframed in economic and technological terms: control over supply chains and export controls may matter as much as military or diplomatic stances. As the world increasingly moves into greater bloc fragmentation, Global South can be the driver to further inter- and intra-regional integration and cooperation. The panellists shared a consensus that the world will not return to the traditional sense of a multilateral world order, but evolve into one driven by mutual respect and diversification of trade relations.
At the ‘ASEAN-China Economic and Trade Relations’ panel, experts from banking, policy, and business explored the deep-rooted integration of regional supply chains, the permanent recalibration of global trade policies, and the evolving strategies of Chinese investors. The consensus was that while uncertainty prevails, the ASEAN region is uniquely positioned as a critical hub and a primary beneficiary of these global shifts, demanding new levels of geopolitical awareness and strategic agility from business leaders.
The discussions on ‘China’s Policy, Economic Transformation and Industrial Development,’ revealed a mood of cautious optimism, with experts concluding that China’s future depends on pivoting decisively from stimulus-led recovery to sustainable, innovation-driven growth. Panelists agreed that the core challenge today is overcoming domestic “nei juan” and succeeding in a far more competitive global landscape by making original, high-value innovation the bedrock of China’s economic policy.
During the final panel, ‘The AI Race: Driving the Next Industry Inflection’, experts shared fresh insights into the future state of AI where it is expected to become a ubiquitous global utility like electricity. In this emerging landscape, meaningful differentiation will go beyond the models itself, and value is created in the application for distinct needs and opportunities.
When asked for a piece of advice that he would give to policymakers and investors, Ray Dalio, Founder of Bridgewater Associates, shared, “There are three basic things that make a successful country. First, educate your children better than others. Second, earn more than you spend. And third, avoid war.”
Business China Awards
The evening also saw the staging of the 12th edition of the Business China Awards (BCA), co-presented with OCBC. The Awards honour outstanding individuals and organisations who exemplify exceptional vision, leadership, and success in advancing sustained growth in Singapore-China relations across business, economic, social, and/or cultural domains.
Ms. Liu Chang, Chairwoman of New Hope (Liuhe), received the Young Achiever Award 2025 for establishing New Hope’s regional base in Singapore, aligning internationalisation strategies with the city-state’s strengths, championing youth engagement, and leading cross-border philanthropic initiatives. Beyond business, Ms. Liu has positioned Singapore as a vital platform for Chinese enterprises to “go global” and actively champions youth engagement in bilateral cooperation through school-enterprise partnerships that foster shared growth.
The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI), winner of the Business China Enterprise Award 2025, is the third flagship government-to-government project between Singapore and China, launched in November 2015 under the witness of then-Prime Minister Lee Hsien Loong and President Xi Jinping. Over the past decade, the CCI has expanded cooperation across multiple sectors, pioneering cross-border financing for internationalising enterprises, developing the New International Land-Sea Trade Corridor. The initiative has also laid a digital foundation for smart city and digital economy collaboration, while driving new partnerships in innovation, healthcare, and education. These achievements have deepened bilateral cooperation, injecting fresh momentum into the Belt and Road Initiative.
This year’s Business China Excellence Award honours Mr. Chin Siat-Yoon, Singapore’s longest-serving Ambassador to China from 1998 to 2012. Over his fourteen-year tenure, he was instrumental in establishing the Joint Council for Bilateral Cooperation (JCBC), the apex platform for bilateral collaboration, and in guiding the Suzhou Industrial Park through its early challenges to become Singapore’s first flagship government-to-government project with China. He was instrumental in advancing the landmark China-Singapore Free Trade Agreement, the first comprehensive FTA between China and an Asian nation, and the launch of the Sino-Singapore Tianjin Eco-City, a model for sustainable urban development. These landmark achievements continue to anchor bilateral ties today, reflecting Mr. Chin’s vision, leadership, and enduring contributions.
For more information, visit the FutureChina Global Forum 2025 website here.