Since the beginning of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity in 2015, Liangjiang New Area in Southwest China's Chongqing municipality has signed 49 related projects worth $11.8 billion, becoming the core area of the initiative.
Liangjiang and National University of Singapore signed a strategic framework agreement on the co-establishment of a high-end R&D platform, a high-tech industry incubation base, and an educational training center last year.
Based on the agreement, National University of Singapore Chongqing Research Institute will be built to provide support in logistics, financial risk management, information engineering, advanced manufacturing, and talent cultivation, which meets Chongqing's need for developing emerging industries.
The Sino-Singapore (Chongqing) Multimodal Transportation Demonstration Base built this January will start to attract investment in October.
Located close to Guoyuan Port and Yuzui Freight Station, the base will integrate water, railway, air, and road transportation to connect the China-Europe railway, the New International Land-Sea Trade Corridor, and the Yangtze River Economic Belt.
In addition, Liangjiang will cooperate with Singapore, Italy, and Australia to establish an international cooperation center, and introduce chambers of commerce, industry association, as well as international service institutions and headquarters.
Companies involved in financial services, aviation, logistics, and information communication technology in Liangjiang's six major industrial parks will be able to enjoy an international dedicated internet channel.
With the development of the initiative, companies in West China have had easier access to various financing channels. To date, over $10.42 billion of cross-border financing deals have been closed.