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Balakrishman said Singapore attached great importance to relations with China. Singapore will expand bilateral cooperation, strengthen coordination and cooperation on regional and international affairs, and promote the development of the Singapore-China relations and ASEAN-China relations.

The findings showed that over half of the inspected entities, including the People's Bank of China, the central bank, Industrial and Commercial Bank of China, Ministry of Education as well as China Banking Regulatory Commission, have been involved in violating the CPC's frugality code.

China has successfully met its employment targets for the past five years with 64 million jobs added and a low registered unemployment rate of 4.1 percent, a bright spot in China's economic and social development, Ma said.

The circular stressed that terminating all paid services was "an important political task" in building the armed forces, and urged units at all levels to fully implement the decision.

China "has a lot of scopes to increase fiscal stimulus" if it needs to, as the country has definitely low central government debt relative to the GDP, he said.