PR99988

CHONGQING, China, April 21, 2023 /PRNewswire=KYODO JBN/ --

A news report from iChongqing- Chongqing - The 5th China-Singapore (Chongqing)

Connectivity Initiative Financial Summit (CCI-FS) commenced on April 20 in

Southwest China's Chongqing and Singapore, featuring leaders from both

Singaporean and Chinese governments, financial departments, and heads from ten

central banks of ASEAN countries presented at the opening ceremony.

"Singapore-Chongqing collaboration in financial services has evolved in tandem

with the broadening of our cooperation under the CCI, from providing

traditional cross-border financing to companies in Chongqing and China," said

Josephine Teo, Minister for Communications and Information and Second Minister

for Home Affairs of Singapore, at the opening ceremony via video link. "Our

collaboration has expanded to include areas such as green and sustainable

finance."

Other participating guests include consuls general of RCEP member countries in

Chongqing, Chengdu, and Kunming, leaders of the regions along the New

International Land-Sea Trade Corridor (ILSTC), as well as executives of large

financial institutions, multinational companies, and global financial scholars.

During the opening ceremony, 90 projects related to the China-Singapore

financial cooperation and the construction of the ILSTC and Western Financial

Center were signed, with the amount reaching 111 billion yuan (US$16 billion).

Centered on the topics of financial co-founding the Belt and Road, the

implementation of RCEP, the construction of the Chengdu-Chongqing economic

circle, and the ILSTC, the two-day summit will hold 12 main events and 9

special events. The events will concentrate on the cooperation and

co-construction mechanism of financial services in the ILSTC, exploring the

digital innovation of financial models, proposing strategies for building

digital financial service platforms, and promoting financial connectivity and

green finance innovation.

Since 2018, the CCI-FS has been held consecutively for four times. Over the

past seven years, Chongqing and Singapore have deepened their financial

cooperation under the CCI. Chongqing enterprises invested more than US$60

million in Singapore, and Singaporean institutions directly invested US$3.4

billion in Chongqing.

The 5th CCI-FS is jointly held by the Ministry of Commerce of China, People's

Bank of China, China Banking and Insurance Regulatory Commission, China

Securities Regulatory Commission, State Administration of Foreign Exchange,

Ministry of Trade and Industry of Singapore, Monetary Authority of Singapore

and Chongqing Municipal Government.

For more details on 5th CCI-FS, please click

https://www.ichongqing.info/special/cci-fs-2023/

SOURCE: iChongqing

Image Attachments Links:

   Link: https://iop.asianetnews.net/view-attachment?attach-id=440121

   Caption: The opening ceremony of the 5th CCI-FS was held in Southwest China’s Chongqing

Municipality on April 20. (Photo/ Kenny Dong)