CCI-FS 2021 has Strengthened the Cooperation Between China and Singapore in Finance Sector
NEWS AGENCY：
Xinhua News Agency
DATE OF NEWS:
November 24, 2021
The results of the China (Chongqing) Singapore Connectivity Initiative Financial Summit 2021 (CCI-FS 2021) were announced on November 24, following the conference themed on deepening financial cooperation and forming a new connectivity pattern for China ASEAN. The two-day summit is the signature event under the financial services pillar of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity. It focuses on opportunities to deepen financial collaboration between Singapore and Chongqing, and between ASEAN and western China. More than 110 high-profile guests from ASEAN and domestic financial circles met on and offline to exchange ideas, share wisdom and discuss overall plans for financial cooperation between China and Singapore.
CCI-FS 2021 witnessed the signing of 85 projects with a contractual value of 101.1 billion yuan. Ten key projects with the total value of RMB 4.2 billion between Singapore and Chongqing corporates and institutions relating to cross-border financial services cooperation, green finance and fintech were also inked during the summit. Among them, ICHAM Singapore will land a QDLP private equity fund in Liangjiang New Area, becoming the first Singaporean company to be approved for QDLP pilot status in China.
China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) has helped to catalyze 3 billion U.S. dollars in multi-currency financing deals from Chongqing this year, amounting to over 17 billion dollars in cross-border deals since the CCI's inception in 2015.
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