Caspian Energy Journal Caspian European Club
Thursday, 08 November 2018 15:00

China-Singapore program delivers on 137 projects worth $21.9bn

Altogether 137 cooperative projects worth $21.9 billion have been signed through a China-Singapore inter-government program over the past three years, Caspian Energy News ( reports with reference to the press statement of the State Council of the People’s Republic of China.

This was revealed at a news conference for the third anniversary of the China-Singapore (Chongqing) demonstration initiative on strategic connectivity held on Nov 7 in Southwest China’s Chongqing Municipality.

The initiative was launched in November 2015, aiming to pilot cooperation in fields including financial services, aviation, logistics and communications.

According to Han Baochang, director of the management administration of the initiative, China and Singapore have established diversified cross-border financing channels.

Western provinces and cities including Chongqing, Sichuan and Shaanxi have raised more than $5.15 billion in 62 cross-border financial deals so far.

Six banks have established global or regional capital operation and clearing centers in Chongqing, showing that the two sides have strengthened cooperation in investment funds covering logistics, big data and new energy, managing around 7.7 billion yuan.

The number of flights between Chongqing and Singapore has increased from five to 14 per week, Han said, adding air travelers between the two areas increased to 190,000 in 2017, up 30 percent year-on-year.

More details:

Person in charge of the newsline: Olga Nagiyeva 


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