Singapore's finance minister, Lawrence Wong, has been chosen as leader of the ruling People's Action Party's so-called fourth-generation (4G) team, paving the way for him to potentially become the city-state's next prime minister.

"This decision is a crucial one for Singapore. It will ensure the continuity and stability of leadership that are the hallmarks of our system," Prime Minister Lee Hsien Loong said on Thursday in a social media post, adding that he would also make adjustments to the cabinet.

Stability has long been...