260 projects inked under China-Singapore connectivity initiative

CHONGQING (XINHUA) – A total of 110 business cooperation and 150 cross-border financing projects have been inked within the framework of a China-Singapore connectivity initiative, as of the end of March, according to a report released on Friday.

The value of the business cooperation and cross-border financing projects agreed under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity amounted to USD20.7 billion and USD13.1 billion, said the report released by the initiative’s management bureau.

The agreements signed under the initiative mainly fall into four categories: financial services; air transportation; logistics; and information and communication technologies.

By the end of last year, nine provincial-level regions, including Sichuan Province, Guangxi Zhuang Autonomous Region and Xinjiang Uygur Autonomous Region, had raised over USD5.5 billion from the cross-border financing projects.

The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity aims to conduct pilot cooperation in various fields. It is the third such cooperation initiative between China and Singapore, following the Suzhou Industrial Park established in China’s eastern province of Jiangsu in 1994, and the Tianjin Eco-city inaugurated in 2008 in north China.