On May 14, 2004, Premier Wen Jiabao of the State Council met with visiting Singaporean Deputy Prime Minister Lee Hsien Loong at the Great Hall of the People.
Lee indicated that Singapore's decision to acknowledge China's market economy status is based on the recognition of the status quo of China's achievements in developing market economy. This decision will contribute to the further development of bilateral relations. Wen said that Singapore's recognition of China's market economy status is a positive and friendly move, which the Chinese government highly appreciates.
(Information from Ministry of Foreign Affairs, PRC )