CHONGQING, Nov. 9 (Xinhua) -- A total of 230 cooperation projects have been inked under the framework of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, involving total investment of 32.2 billion U.S. dollars, Chongqing Daily reported on Sunday by citing local authorities.
China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, which was officially launched in November 2015, 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.
Under the initiative, cooperation has been carried out mainly in four areas, including financial services, air transportation, logistics and information and communications technologies.
According to Han Baochang, head of the management bureau of China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, under the framework of the initiative, a total of 137 cross-border financing projects had been implemented in the field of financial service by the end of October, with the total value amounting to 12.3 billion U.S. dollars.
China-Singapore cross-border financing model has begun to be replicated in other western provinces and regions besides Chongqing. As of the end of October, it had assisted 8 central and western provinces in raising more than 4.2 billion U.S. dollars and helped over 500 enterprises and investment institutions in the western region access to the international capital market.
In the field of logistics, China-Singapore land-sea trade corridor has become the most convenient sea channel in the western region. International rail-sea transport, international rail transport and cross-border road transport have all been under normal operation.
In the aviation sector, the number of flights linking Chongqing Municipality and Singapore has increased from 5 per week 5 years ago to 14 per week by the end of 2019. China and Singapore are mulling the establishment of an aviation industrial park in a bid to create an aviation industry cluster integrating aviation maintenance, logistics, training and finance.
In the field of information and communications, China-Singapore (Chongqing) International Internet Data Channel has officially started operation, providing services for cross-border data transmission and telemedicine.
(Edited by Zhang Yuan with Xinhua Silk Road, zhangyuan11@xinhua.org)
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