Singapore Convention has an epoch-making significance in terms of effectively resolving international commercial disputes, rapidly providing judicial relief to the parties concerned, and ensuring the healthy and orderly development of international business activities. Based on literature and in combination with actual practice, this paper analyzes open questions of the Convention, especially in its scope of application, definition of mediation, and reasons for refusing to grant relief and offers an idea to make reasonable improvement. As the effective application of the Convention in China is of practical significance, this paper presents primary legal advice on how to better in this regard: full consideration to the manner of application, the date of incorporation, reservation and territory thereof, review agencies for and ways to review the settlement agreements, etc., establishment of a mediation legal system at home accordingly and accelerated introduction of a mechanism governing the dispute mediation and settlement in connection with the Belt and Road Initiatives, so as to make due contributions to the innovative development of the international mediation system.