At the just-concluded 5th China-Singapore (Chongqing) Strategic Interconnection Demonstration Project Financial Summit, a series of important achievements witnessed the cooperation between China and Singapore to a higher stage – 90 practical cooperation projects with a record high were signed , China, Singapore and ASEAN countries proposed a package of major policy support measures for further deepening China-ASEAN cooperation…
On November 7, 2015, during President Xi Jinping’s visit to Singapore, he and Singaporean Prime Minister Lee Hsien Loong jointly witnessed the third inter-governmental cooperation project between the two countries after Suzhou Industrial Park and Tianjin Eco-city – China-Singapore (Chongqing) Strategic Interconnection The demonstration project was officially launched.
This year marks the 10th anniversary of the joint construction of the “Belt and Road” initiative. For more than 7 years, the China-Singapore Connectivity Project has built diversified cross-border financing channels, cultivated convenient new land-sea channels, continuously expanded new areas of cooperation, and promoted efficient connectivity of people, goods, capital, and information flows between regions. The results of each project It is a powerful proof of the vitality of the “Belt and Road”.
Constructing Diversified Financing Channels to Promote Financing of the “Belt and Road” Initiative
At this summit, the New Land-Sea Corridor Financial Service Consortium was established. 56 Chinese and foreign financial institutions including China Development Bank, Bank of Chongqing, and Singapore DBS Bank will jointly promote cross-border financial cooperation among countries and regions along the corridor and promote cross-border trade. Investment and industrial development.
“The consortium covers more than 3,000 service outlets in Chongqing, Sichuan, Guangxi and other provinces, autonomous regions, and cities along the New Land-Sea Corridor, and connects over 1,000 service outlets in countries and regions along the corridor such as Singapore and Malaysia.” Ruan Lu, director of the Chongqing Local Financial Supervision Bureau, said, This marks the initial formation of a cross-regional and cross-border financial service network system covering the entire channel.
This is the urban scene of Chongqing (drone photo) taken on September 5, 2022.Photo by Xinhua News Agency reporter Huang Wei
The Land-Sea New Corridor Financial Service Consortium is one of the important achievements of this summit. This summit reached 90 signed projects with a contract value of 111 billion yuan. The number of projects hit a record high. China, Singapore and ASEAN countries proposed a package of major policy support measures for further deepening China-ASEAN cooperation——
The Ministry of Commerce will accelerate the construction of the New Land-Sea Corridor, and strengthen cooperation in various fields around the high-quality development of the channel; the China Banking and Insurance Regulatory Commission will vigorously support the construction of the China-Singapore Connectivity Project, and encourage Chinese-funded financial institutions in New Zealand to further improve local service capabilities; the State Administration of Foreign Exchange will support Chengdu and Chongqing jointly build the western financial center, optimize the centralized operation and management of cross-border funds in domestic and foreign currencies of multinational companies, and promote more financial innovation policies to be tried first in Chengdu and Chongqing;
The Monetary Authority of Singapore proposed that Singapore and Chongqing should strengthen cooperation in future fields in terms of jointly incubating green financial demonstration zones, jointly exploring and creating a green financial market ecosystem, further coordinating the sustainable financial classification schemes of both parties, and exploring new financing structures; multiple ASEAN The National Central Bank proposed to support the enhancement of regional financial interconnection through measures such as promoting the use of national currency in cross-border settlements and promoting the digital development of the financial industry.
The results released at this summit show that the China-Singapore Connectivity Project has achieved multiple breakthroughs in the financial field – promoting the implementation of the first outlet REITs project in Asia, issuing a real estate investment trust project with a fundraising amount of 396 million Singapore dollars; cross-border debt The transfer and cross-border asset transfer business pilots were first launched in the central and western regions; US dollar Lion City bonds, overseas RMB bonds, dual-currency domestic guaranteed foreign debts radiating to the west, and “refactoring” cross-border financing were launched under the China-Singapore Connectivity Project Achieving the first single breakthrough…
For more than seven years, China and Singapore have cooperated to build diversified cross-border financing channels under the framework of the China-Singapore Connectivity Project, which is continuously injecting new vitality into the “Belt and Road”.
“Relying on the China-Singapore Connectivity Project, China and Singapore have signed a total of 30.21 billion US dollars in financial service projects, and have launched a total of 74 innovative policies around cross-border investment and financing, cross-border settlement, and institutional mutual establishment.” Ruan Lu said.
China-Singapore financial cooperation allows Chinese companies to successfully finance at a lower cost——
According to the data released at this summit, as of the end of March this year, a total of 19.6 billion US dollars of cross-border financing projects have been implemented under the framework of the China-Singapore Connectivity Project, covering more than 10 provinces, regions and cities including Chongqing, Guangxi, Sichuan, Guizhou, and Yunnan. , the comprehensive financing cost is about 1 percentage point lower than domestic ones.
China-Singapore financial cooperation allows financial institutions in Singapore and other ASEAN countries to share opportunities in the Chinese market——
Under the guidance of the China-Singapore Connectivity Project, Singapore has established 20 joint venture or wholly-owned financial institutions in Chongqing, involving funds, financial leasing, village banks and other fields. “The Chinese market is very large, and Singapore’s financial institutions have a lot of room to play.” During the summit, Xie Caihan, chief representative of the Beijing Representative Office of the Singapore Exchange, said in an interview with Xinhua News Agency.
At this summit, Singapore’s Minister of Communications and Information and Second Minister of the Interior Yang Liming said in an online speech that strengthening financial cooperation and interconnection will promote ASEAN-China economic integration and build more inter-regional financial ecosystems, which will help It is beneficial to reduce enterprise costs, promote financing facilitation, and realize risk control and asset management facilitation, which is conducive to increasing trade exchanges, increasing cross-border investment in new projects, and maximizing regional potential.
On April 20, 2023, at the opening ceremony of the 5th China-Singapore (Chongqing) Strategic Connectivity Demonstration Project Financial Summit in Chongqing, Singapore’s Minister of Communications and Information and Second Minister of the Interior Yang Liming delivered an online speech.Photo by Xinhua News Agency reporter Huang Wei
Cultivate a new land-sea channel to facilitate the smooth trade of the “Belt and Road”
“The New Land-Sea Corridor has expanded from one route at the beginning of its opening to 393 ports in 119 countries and regions around the world, becoming a fast channel for the western region of my country to connect the world.” said Liu Wei, Director of the Logistics and Operations Organization Center of the Western Land-Sea Corridor.
On April 3, 2023, the first train of the New Land-Sea Corridor cross-border rail-road intermodal train (Chongqing-Ruili-Myanmar) is waiting to depart at the Xiaonanya Railway Logistics Center in Jiangjin, Chongqing.Photo by Xinhua News Agency reporter Tang Yi
As a key support area of China-Singapore financial cooperation, the New Land-Sea Corridor is one of the important achievements born under the framework of the China-Singapore Connectivity Project. In 2017, relying on the China-Singapore Connectivity Project, relevant provinces, autonomous regions and municipalities in the west cooperated with ASEAN countries to create a brand-new international trade logistics channel – the Southbound Corridor of the China-Singapore Connectivity Project, the predecessor of the New Land-Sea Corridor.
The first train of the China-Singapore Interconnection Project’s southbound railway-sea intermodal transport channel is ready for normal operation (photographed on September 25, 2017).Photo by Xinhua News Agency reporter Tang Yi
With Chongqing as its operation center and the western provinces as its key nodes, it uses railways, seas, highways and other transportation methods to reach all parts of the world via Guangxi, Yunnan and other coastal ports in the south, which is much shorter than the time required to go to sea through the eastern region.
In the past six years, the development of the New Land-Sea Corridor has continued to accelerate. Taking the first quarter of this year as an example, data from the West Land-Sea New Corridor Logistics and Operations Organization Center showed that in the first quarter, Chongqing transported 36,000 TEUs via the New Land-Sea Corridor, a year-on-year increase of 39%, and the value of goods reached 5.555 billion yuan, a year-on-year increase of 25%.
On April 3, 2023, the first train (Chongqing-Ruili-Myanmar) of the New Land-Sea Corridor cross-border rail-road intermodal train departs from the Xiaonanya Railway Logistics Center in Jiangjin, Chongqing (drone photo).Photo by Xinhua News Agency reporter Tang Yi
“At the beginning of the operation, some trains and shuttles in the New Land-Sea Corridor had ‘going but never returning’ goods, and there were only more than 50 types of goods. Now the two-way balance of transportation has been basically achieved, and the number of goods has expanded to more than 900 types.” Liu Wei said.
The China-Laos International Freight Express Qingling Automobile departs from the Tuanjie Village Station in Chongqing (photographed on June 8, 2022).Photo by Xinhua News Agency reporter Huang Wei
The new land-sea channel solves the logistics problems in the western region and drives the opening and development of the western region——
In the past, Chongqing Lee & Man Paper Co., Ltd. imported raw materials from Southeast Asia, and was troubled by the long cycle of river-sea combined transportation for a long time. Since 2021, with the support of the new land-sea channel, the company’s logistics problems have been easily solved. The person in charge of the company said: “The new land-sea channel provides an efficient supply chain guarantee, the transportation time is shortened by about 15 days, the production cycle of the enterprise is shortened, and the output and efficiency are greatly improved.”
Gansu Chinese herbal medicines, Xinjiang nuts, Ningxia goji berry puree and red wine, Guizhou tea, Chongqing twist… The western specialty products that were once “hidden in the boudoirs” are continuously going to the world along the new land-sea channel, and some have become A new growth point for local foreign trade.
The new land-sea channel allows countries and regions along the “Belt and Road” to share the dividends of the Chinese market——
High-quality rice from Laos can reach the counters of supermarkets in western cities such as Chongqing in about 4 days by taking the China-Laos Railway International Freight Train of the New Land-Sea Corridor, which used to take nearly a month.
Not only Laotian rice, but also specialty products such as Thai durian, Vietnamese pangasius, and Cambodian bananas have entered the Chinese market more quickly. At the same time, my country is relying on the new land-sea channel to cooperate with Laos to build a modern agricultural industrial park project, and cooperate with Cambodia to explore the integrated banana supply chain of “transportation, trade and production”.
In Shuangfu Agricultural Trade City, Jiangjin District, Chongqing City, the staff of Hongjiu Fruit are carrying durians transported from Thailand (photographed on April 19, 2022).Photo by Xinhua News Agency reporter Huang Wei
The continuous expansion of cooperation areas will continue to release the radiation effect of the “Belt and Road”
In March this year, with the support of the China-Singapore Connectivity Project, 12 Chongqing manufacturing companies went to Singapore to participate in the 2023 International Industrial Cooperation Conference (Singapore), where they reached a purchase order of about US$10 million and confirmed 12 cooperation intentions.
Consumers shop for products at the “Land-Sea New Channel International Consumption Center” in Jiefangbei, Chongqing (photo taken on May 28, 2022).Photo by Xinhua News Agency reporter Tang Yi
This is the latest attempt of the China-Singapore Connectivity Project in the manufacturing sector. Today, the field of project cooperation is constantly expanding, and the radiation effect on countries and regions along the “Belt and Road” is continuously released——
In the field of information and communication, the two parties cooperated to open the China-Singapore international data channel, provide services such as cross-border data transmission security, and set up a joint innovation and development fund for China-Singapore information and communication media;
In the field of aviation industry, the two parties innovated the bonded aviation materials supervision model and promoted the Singapore Airlines bonded aviation materials distribution center to settle in Chongqing; Singapore Changi Airport and Chongqing Airport Group cooperated to improve the management level of Chongqing Jiangbei International Airport;
In the field of agricultural industry, the two sides implemented the Sino-Singapore (Chongqing) agricultural cooperation plan, and successfully promoted the regular supply of citrus, lemon, chrysanthemum and other special agricultural products to Singapore and other Southeast Asian markets;
In the field of talent exchange, the two sides implemented the China-Singapore talent training cooperation plan, and explored a series of joint training programs such as “excellent entrepreneurs” and “excellent engineers”;
In the field of social and people’s livelihood, the two sides cooperated to promote the construction and operation of Chongqing Raffles Hospital and Chongqing Zhongxin Cancer Hospital.
“In the future, the cooperation field of China-Singapore Connectivity Project will continue to expand, and the radiation effect will continue to be released, which is determined by the project’s unique cooperation model.” Sun Xiyong, deputy director of Chongqing China-Singapore Demonstration Project Administration The advantage is that there are no geographical boundaries and no field restrictions. It closely follows the development pain points of western China and countries and regions along the “Belt and Road”. From the “point-to-point” hand-in-hand between Chongqing and Singapore, it will drive “face-to-face” exchanges between western China and ASEAN cooperate.
Text reporters: Zhao Yufei, Li Xiaoting
Video reporter: Li Aibin
Poster Design: Excellence
Editors: Jin Xiaoqian, Qi Wenjuan, Ma Ning, Yao Qilin, Hu Bixia, Cheng Hao
Coordinator: Huang Xiaoxi, Fang Sixian
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责编：丁玉冰 ]
2023-04-25 01:28:00
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