Joining efforts for CCI-ILSTC, sharing diverse new opportunities
CHONGQING (CQNEWS) -- The CCI-New International Land-sea Trade Corridor (ILSTC) Regional Cooperation Forum was held in Singapore on the morning of July 18, 2023. Interviewed by the reporter, the guests attending the Forum were full of confidence and expected to achieve more fruitful results in the construction of the New International Land-sea Corridor in the process of jointly promoting the “Belt and Road”.
Wu Heng, Deputy Director of Chongqing Local Financial Supervision and Administration Bureau, said that in recent years, the cooperation in the financial field between Chongqing and Singapore had continued expanding under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI), jointly promoting the implementation of more than 140 financial opening-up policies such as QDLP, promoting the implementation of 52 key projects such as China-Singapore Financial Technology Cooperation Pilot Zone, and gradually forming a connectivity between Chongqing and Singapore to drive the cooperation between western China and the ASEAN.
Next, Chongqing Local Financial Supervision and Administration Bureau will start from five aspects including policy, equity, platform, business and exchange and work with the Monetary Authority of Singapore (MAS) to jointly study and strive for policy innovation such as China-Singapore Capital Market Connectivity, and jointly establish a new type of financial institution serving the construction of the New Land-sea Corridor, strengthen services such as local currency settlement, processing businesses in different places, consumer finance, and economic and trade matchmaking services for the New Land-sea Corridor financial services complex, jointly carry out paperless trials for cross-border trade, and work together to achieve new results in financial cooperation
Sun Xiyong, Party Member and Deputy Director of CCI Administration Bureau, said that as a strategic corridor with multiple economic effects jointly built by China and Singapore based on the CCI, the New International Land-sea Corridor had organically connected the “Belt and Road” and the Yangtze River Economic Belt, providing a solid support for the stable development of the regional industrial chain and supply chain; China and Singapore had provided countries around the world with such a platform for international public goods and international cooperation, which is conducive to countries to better promote cooperation through the New Land-sea Corridor; and they would in accordance with the idea that the New International Land-sea Corridor drives economy and trade promotes industry, better improve the development of the New International Land-sea Corridor and jointly and effectively promote the construction and development of the New International Land-sea Corridor through regional cooperation.
Liu Yizhen, Member of the Party Committee and Deputy General Manager of New Land-sea Corridor Operation Co., Ltd. said: “We will increase our overseas presence, enhance our overseas service capabilities, and improve the organization of return freight through the New International Land-sea Corridor so as to better leverage the supporting role of the New International Land-sea Corridor in the regional industrial chain and supply chain”.
Xie Wen, Standard Chartered Bank SME Global President and Director of the Board of Directors of Standard Chartered Bank (China) Limited, said: “As a very beautiful mountain city, Chongqing is one of the most distinctive cities in China, and it is loved by many young people”, and also said that Standard Chartered Bank would carry out in-depth cooperation with local banks in Chongqing, rely on local banks’ in-depth understanding of the local market and solid customer base and combine with professional expertise in cross-border financing and trade financing to provide better services for Chongqing enterprises to go global.
Chen Zhanpeng, President of Singapore Manufacturing Federation, said that after visiting Chongqing in 2019, he thought that Chongqing’s manufacturing industry was very vigorous. He said that Singapore and Chongqing’s manufacturing industry may join forces, “Singapore has overseas markets and research and development advantages, and can cooperate with Chongqing’s local manufacturing industry so as to help enhance the internationalization of Chongqing enterprises. Next, we will lead a delegation to Chongqing for field visits and cooperating with corresponding enterprises, and let our member enterprises to interact with Chongqing enterprises.” (Translated by Liu Hongyan, Fathom Language Limited)