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The seventh meeting of the Joint Implementation Committee of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity was held on April 11, with 30 new projects signed in the fields of information and communication, transportation and logistics, finance, and talent training.

Among these projects, eight financial ones involve a total contract turnover of $1.57 billion, accounting for 86.3 percent of the total. Hechuan, Rongchang, and Nan’an districts will strengthen their bonds with Singapore and issue bonds via the Singapore Exchange.

As the world's fourth largest financial hub, Singapore is working with Chongqing and helping it to become a financial center in western China.

Under the framework of the China-Singapore Connectivity Initiative, the two sides signed 50 business projects worth $3.36 billion, as well as 40 financial programs worth $4 billion. To date, 192 projects and programs have been signed, helping enterprises in Sichuan, Guangxi and another seven places in China obtain $5.67 billion through cross-border financing channels.

The two sides also agreed to jointly establish foreign trade comprehensive service platforms and logistics bases in Hungary, and enhance bilateral trade cooperation. "These programs will help Chongqing and the rest of western China make full use of the momentum granted by the RCEP agreement, by allowing domestic tea products, select fruit, and special food to enter the ASEAN market," said an official in charge of the connectivity initiative.