Chinese Premier Li Keqiang addresses a welcoming banquet hosted by the Singapore Business Federation and the Singapore Chinese Chamber of Commerce and Industry in Singapore, Nov. 13, 2018. (Xinhua/Shen Hong)

SINGAPORE, Nov. 13 (Xinhua) -- Chinese Premier Li Keqiang on Tuesday called for enhancing the economic cooperation between China and Singapore.

Li, who is on an official visit to Singapore, made the remarks while addressing a welcoming banquet hosted by the Singapore Business Federation and the Singapore Chinese Chamber of Commerce and Industry.

China is ready to work with Singapore to set up cooperation platforms for connectivity, financial support and third-party cooperation, so as to upgrade economic and trade cooperation and deepen financial cooperation, Li told more than 1,000 people from Singapore's economic and business circles.

Over the last 40 years, the development of Singapore has provided China with precious experience, while the development of China has brought about important opportunities for Singapore, Li said.

China will advance reform and opening-up with greater efforts, more practical measures and faster pace, promote high-quality development, and maintain the continuity and stability of macroeconomic policies without adopting strong stimulus policies, he said.

The premier also reiterated China's policies to continue streamlining administration, cutting taxes and reducing fees, and create a business environment of fair competition where Chinese and foreign enterprises are treated equal.

He sent a welcoming message to companies from all countries including Singapore to seize business opportunities and expand investment in China, enhance economic and trade cooperation and achieve mutually beneficial and win-win results.

On the Chinese economy, Li said it is performing with overall stability and within the reasonable range.

As the international environment has gone through remarkable changes, the Chinese economy faces a certain degree of downward pressure, which China has relatively big room and resilience to accommodate, he said.

The Chinese economy's long-term positive fundamentals will not change and the prospects of China's development will surely be brighter, Li said.

Li started his official visit to Singapore on Monday. This is the first visit by a Chinese premier to Singapore in 11 years.

During the visit, Li will also attend the 21st leaders' meeting between China and ASEAN (the Association of Southeast Asian Nations) as well as the 21st ASEAN-China, Japan and South Korea leaders' meeting, respectively known as 10+1 and 10+3, as well as the 13th East Asia Summit.