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China-Singapore Chongqing cooperation project important nodal point

(Xinhua)    14:38, April 22, 2016

Chongqing Connectivity Initiative Seminar is held in southwest China's Chongqing Municipality, April 16, 2016. (Xinhua/Tang Yi)

BEIJING, April 22 -- The Chongqing cooperation project between China and Singapore has attracted mass investment since it started.

The project is planned as an important nodal point for the China-proposed "Belt and Road" Initiative and features "modern connectivity and modern services."

To meet its developmental needs, China and Singapore are expected to take more innovative policies and measures.

As the third government-to-government (G-to-G) project between China and Singapore, the project is believed to bring the superiority of western China and ASEAN countries into full play.

Singaporean Minister in Prime Minister's Office Chan Chun Sing said at the Chongqing Connectivity Initiative Seminar lately that a new trade route will be built through the link between Chongqing and ASEAN as well as the connection between western China and Europe.

The project is committed to constructing a comprehensive China-Singapore transportation system consisting of railways, highways and airlines, making the municipality an important trade hub between Asia and Europe.

The financial cooperation between the city and Singapore will focus on five aspects: financial settlement, financing, equity investment, social security fund investment and establishment of Singaporean financial institutions in Chongqing, according to Huang Qifan,mayor of Chongqing .

In this operation mode, Chongqing should be able to put its capital in overseas market for profit while attracting foreign investment for development, Chan Chun Sing said.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Yuan Can,Bianji)

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