TOKYO - Visiting Singaporean Prime Minister Lee Hsien Loong said in Tokyo on Thursday that Asia has successfully recovered from depression and faster than expected with China's continuing progress, the biggest fact of Asia's success.

Lee made the remark in a keynote speech during the 19th International Conference on the Future of Asia, adding Asia's global role has grown and the region is generally peaceful and stable.

He said the biggest fact in Asia's success is China's continuing progress as the country is now "the top trading partner of many Asian countries, including Japan", and "China has integrated remarkably well into the international system."

"For instance, China has supported the UN Security Council's efforts to defuse the problems on the Korean Peninsula," said the prime minister.

Lee also called for peaceful management based on international law in some thorny issues that China faces, such as territorial disputes with regional countries.

The Singaporean leader also said that China-US relations remain the key bilateral relationship in the Asian-Pacific region.

"This is the most important bilateral relationship for both countries, for Asia and, indeed, for the world."

He said China and the United States share the most common interests and the two countries should manage domestic pressures in order to work together on common problems.

"America and China need to institutionalize their exchanges to build strategic trust to promote transparency and to prevent from misunderstanding and to develop rule of engagement to avoid incidence," said the premier.

As to the future of Asia, Lee said that the future is "bright" and countries "are striving for growth and prosperity to improve the lives of their peoples", adding Asian countries are building now institution for regional cooperation and working to maintain a stable and peaceful regional order.  

The annual International Conference on the Future of Asia that came into being since 1995 is one of the Asian foremost international meetings that bring political and business leaders together to discuss the future of Asia-Pacific nations.