PR Newswire
21 Apr 2023, 13:15 GMT+10
CHONGQING, China, April 21, 2023 /PRNewswire/ -- 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.
The opening ceremony of the 5th CCI-FS was held in Southwest China's Chongqing Municipality on April 20. (Photo/ Kenny Dong)
"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/
Get a daily dose of Asia Pacific Star news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Asia Pacific Star.
More InformationDHAKA, Bangladesh - According to Foreign Minister Dr. AK Abdul Momen, Bangladesh and the United States believe in democracy and ...
Naypyitaw, Myanmar - The Tatmadaw, Myanmar's military, showcased its prowess at the 31st ASEAN Armies Rifle Meet (AARM) held in ...
DHAKA, Bangladesh - The next general election may be rescheduled if the BNP wishes to participate, according to Chief Election ...
KATHMANDU, Nepal - The government has announced plans to hold the Third Investment Summit in Kathmandu on April 21-22 next ...
ISLAMABAD, Pakistan - Anwaar-ul-Haq Kakar, the caretaker prime minister, arrived in Abu Dhabi on Sunday for an official visit to ...
BANGKOK, Thailand: In response to heightened Chinese activity in the South China Sea, the United States and the Philippines have ...
NEW YORK, New York - Retreating bond yields and a higher-then-expected GDP reading for the third quarter boosted U.S. stocks ...
WASHINGTON D.C.: President Joe Biden invoked a Cold War-era act this week to boost investment in U.S. manufacturing of medicines ...
NEW DELHI, India: On November 24, the Economic Times (ET) reported that Tesla is ready to invest up to $2 ...
NEW YORK, New York - U.S. stocks closed in positive territory despite a volatile day Tuesday. Spending much time in ...
WASHINGTON D.C.: On November 24, the U.S. Food and Drug Administration (FDA) recalled three more brands of whole and pre-cut ...
DETROIT, Michigan: US electric vehicle (EV) sales are expected to reach a record of 9% of all passenger vehicles this ...