Chinese President Hu Jintao arrived in Singapore on Wednesday for a state visit and the Economic Leaders Meeting of the Asia-Pacific Economic Cooperation (APEC), scheduled for Saturday and Sunday.

President Hu released a statement upon arrival at the Singapore Changi International Airport, saying he was ready to work for new progress in bilateral relations through this visit.

In the statement, Hu said China and Singapore were friendly neighbors and the two peoples enjoyed a time-honored and profound friendship.

Hu said, since the two countries established diplomatic ties in October 1990, the bilateral relationship had made rapid progress, with fruitful practical cooperation and close coordination in international and regional affairs.

During the state visit, at the invitation of Singapore President S. R. Nathan, Hu will meet with Nathan, Prime Minister Lee Hsien Loong and other senior officials, and will also have extensive contacts with people of various sectors.

China is now the third largest trade partner of Singapore, while Singapore is the 10th largest trade partner of China. Bilateral trade reached 52.4 billion U.S. dollars in 2008, up 10.5 percent over the previous year. In October last year, the two countries signed a free trade agreement, which came into force two months later.

In Singapore, Hu will also attend the Economic Leaders Meeting of the Asia-Pacific Cooperation (APEC) and elaborate China's proposition on economic, trade and other major issues.