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Wednesday, October 13, 2021
37 projects inked under China-Singapore connectivity initiative

CHONGQING — A total of 37 cooperation projects worth approximately $4.17 billion were inked within the framework of a China-Singapore connectivity initiative on Oct 12, according to the initiative's management bureau.

These projects involve one of the largest foreign investment activities organized by Southwest China's Chongqing municipality. A total of 119 personnel from government agencies and Singaporean companies in China attended the event.

Among the cooperation projects signed this time, there are 29 commercial cooperation projects with an amount of approximately $3.21 billion and eight financing projects worth $960 million.

Business cooperation projects involve urban development, finance, logistics, information and communication, and other fields.

As of now, 147 commercial cooperation projects and 192 cross-border financing projects, with a total amount of approximately $24.6 billion and $17.16 billion respectively having been signed as part of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity.

The initiative aims to conduct pilot cooperation in various fields. This 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.