SG-Chongqing financial connectivity brings $4.1b in multi-currency deals

Their financial connection has strengthened over the past year despite the pandemic.

During the opening ceremony of the fourth China-Singapore Connectivity Financial Summit held on 23 November, it was revealed the Chongqing Connectivity Initiative (CCI) has helped to catalyse approximately $4.1b (US$3b) in multi-currency financing deals from the Western Region this year, amounting to over $23.2b (US$17b) in cross-border deals since its inception in 2015.

Minister for Communications and Information Josephine Teo highlighted the role the financial services sector play in meeting recent economic challenges and in supporting the transition towards a more sustainable future. She also highlighted the importance of leveraging technology to facilitate trade and investments along the CCI New International Land-Sea Trade Corridor (CCI-ILSTC), which connects Southeast Asia and Western China.

Ten memoranda of understanding between Singapore and Chongqing corporates and institutions relating to cross-border financial services cooperation, green finance and fintech were also inked during the Summit.

($1 = US$0.73)

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Banks should have enough buffers and find climate transition risks manageable.
The initiative is expected to improve the operating environment for SG businesses.
This includes the upgrade to the latest data acquisition and control system.
A potential incentive fee of up to $18m may be applied. 
This is part of the group’s efforts to spearhead maritime decarbonisation.
This is higher compared to September's retail sales YoY increase at 6.8%.
Restaurants experienced the most YoY decline at 24%. 
Over 40 companies were recognised in the 7th edition of the awards programme.
VTL scheme to proceed “without change” amidst detection of Omicron variant in Korea.
SATS, Sembcorp Industries, and the SGX led the index.
Birth rates in the country have declined since the pandemic began.
It represents a premium to the property’s book value of approximately $20.6m.
The move will be part of the redevelopment of the Central Mall properties.
It also waived its right to walk away from potential material adverse effects.