By Yuling Chen, EDITOR
On November 2, 2018, the Chongqing Municipal People’s Government signed three strategic cooperation agreements of RMB 950 billion. These agreements are major development strategies of inland developement, digital economy and others in the next five years.
The three cooperation agreements on major economic projects, such as new land-sea corridor and exclusive finance development, are with Agricultural Development Bank of China, Industrial and Commercial Bank of China (ICBC), China Construction Bank and Surbana Jurong Private Limited.
On November 2, 2018, the Chongqing Municipal People’s Government has signed three strategic cooperation agreements, which will bring an accumulative capital support of RMB 950 billion in the next five years.
46 bilateral entities and 36 cooperative agreements
At the first edition of the China-Singapore (Chongqing) Connectivity Initiative Financial Summit (CCI-FS), the Contacting Signing Ceremony witnesses 46 Chinese and Singaporean entities signing 36 cooperative agreements.
15 Chinese and Singaporean entities, including Chongqing Municipal Financial Supervisory Bureau, Chongqing Business Management Department of People’s Bank of China, Chongqing Liangjiang New Area Administrative Committee, Singapore FinTech Association, the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity Think Tank (CCITT), CCI FinTech and Singapore Business China, concluded seven cooperative agreements.
These entities promote to build the launching area of China-Singapore FinTech cooperation demonstration zone and found China-Singapore FinTech Alliance. Moreover, they create incubators for FinTech enterprises in both countries, set up internship and entrepreneurship platform for CCI talents and establish an investment fund, at the scale of RMB 10 billion, for Chinese FinTech industry.
These projects, under the framework of CCI, is related with smart city, digital finance, sharing economy and etc. All aim to enhance cooperation on FinTech cluster, CCI land-sea corridor under the Belt and Road Initiative, cross-border logistics ecosphere featuring logistics+finance+commerce, products innovation base for rural revitalization and Internet finance.
In addition, 34 financial institutions and large-scale logistics enterprises, including ICBC, Bank of China, China Taiping Insurance Group Ltd. and China Railway Logistics Group, take part in the transaction and settlement platform for logistics industry. It will promote the integration of commodities, logistics, information and capital flows, making it a reality for a coordinated industrial chain combing trade, logistics, registration, settlement and financial service.
It also creates a new model for financial reform and innovation by innovating settlement platform for logistics and trade, capital management model and settlement means.
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