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"Precision" poverty relief -- a targeted approach to fight poverty rather than the previous "one size fits all" approach -- should be the order of the day, the statement said.

"The intensive China-Europe interactions show how important the Chinese market is to Europe in terms of trade and economy," said Chen Xin, a researcher with the Chinese Academy of Social Sciences.

"The emerging economies lack experience in international governance and hadn't well grasped the opportunity in 2008, in the worst days of the financial crisis, to rebuild the global financial system," said Wang Wen, executive dean of the Chongyang Institute for Financial Studies at the Beijing-based Renmin University of China.

Advisors convened to study directions from the fifth plenary session of the 18th Communist Party of China Central Committee, which approved proposals on the 13th five-year plan for national economic and social development from 2016 to 2020.

According to the statement, China and Singapore would continue make full use of the existing inter-governmental cooperation mechanisms, such as the annual Joint Council for Bilateral Cooperation, to guide and coordinate cooperation