What’s New about China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity
On February 26, China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (hereinafter referred to as China-Singapore Demonstration Initiative) welcomed its first large-scale contract-signing this year – 10 projects settled in Chongqing with a total contract amount of USD 1.44 billion.
Next, our reporters will show you what these 10 projects are all about.
Two on Financial Service Sector
To benefit domestic export and enterprise cross-border finance
Project Name: Innovative cooperation project on export trade and financing dual-factoring
Signing Unit: Chongqing Branch of the Export-Import Bank of China, Development Bank of Singapore (China) Co., Ltd.
Project Description: Both Chinese and Singaporean banks provide innovative financing service and cooperative products for importers and exporters. “Export dual-factoring” service combines re-factoring service with export dual-factoring service; in another word, The Export-Import Bank of China will cooperate with Development Bank of Singapore on export dual-factoring service, provide receivables collection, receivables management, bad debt guarantee and comprehensive factoring and financing service, so as to provide comprehensive financing service for exports and importers, enable funds more flexible for them, promote trade and financing and improve connectivity for China-Singapore finance.
Project Name: Innovative cross-border asset transferring service project
Signing Unit: Chongqing Branch of China Construction Bank, Bank of Chongqing, Development Bank of Singapore, Singapore Branch of China Construction Bank
Project Description: Last year, there were 39 innovative cross-border financing service projects with some RMB 3.22 billion capital, which mainly center on international commercial loan, overseas bond-issuing, financial leasing. This year, the Service Projects have expanded to wider areas, such as cross-border asset transferring and real estate trust. This Project, co-sponsored by Chongqing Branch of China Construction Bank, Bank of Chongqing, Development Bank of Singapore and Singapore Branch of China Construction Bank, will bring more financing channels for Chongqing enterprises, cut financing cost and improve the capability to deal with exchange rate fluctuation risk.
Three on transportation and logistics sector
To Develop Multimodal Transport and Improve Logistics Efficiency
Project Name: China-Singapore (Chongqing) Multimodal Transport Demonstrative Base Project
Signing Unit: Chongqing Liang Jiang New Area Investment Group Co., Ltd., Chongqing Transport Holding (Group) Co., Ltd., Chongqing Port Affairs Logistics Group Co., Ltd., Pacific International Lines, PSA International, Kerry Logistics, Singapore-Sino Industrial Logistics and Real Estate Company and YCH Group.
Project Description: This project, located inside Yufu Industrial Development Zone of Chongqing Liangjiang New Area and west of Guoyuan Port, mainly focuses on heavy asset investment. With market operation, this project has been established as the largest multimodal transport comprehensive transportation junction and logistics trade distribution hub by combining water, rail, air and motor transport, building multimodal transport standard system, improving logistics efficiency, cutting logistics cost and gathering goods outside the province and country. China-Singapore (Chongqing) Multimodal Transport Demonstrative Base, with 500-mu phase I planned area, relies mainly on Yuzui Railway yard and Guoyuan Port wharf and develops railway yard work zone arrival-departure distribution service, multimodal transport transit logistics, transit comprehensive logistics and regional distribution center as well as multimodal transport regulation center and information platform.
Project Name: China-Singapore (Chongqing) Logistics Development Platform on Connectivity
Signing Unit: Chongqing Liangjiang New Area Development and Investment Group Co., Ltd., Chongqing Transportation Holdings (Group) Co., Ltd., Chongqing Airport Group Co., Ltd., Chongqing Port Affairs Logistics Group Co., Ltd., Chongqing Western China Modern Logistics Park Development Construction Co., Ltd., Co., Ltd., Minsheng Shipping Co., Ltd., Pacific International Lines, PSA International, Kerry Logistics
Project Description: China-Singapore (Chongqing) Logistics Development Platform operates mainly on light asset and focuses largely on consultation and planning of transportation and logistics sector projects, research on multimodal transport system and standard construction, promoting international logistics passage construction, integrating logistics resources in Chongqing and neighboring areas, promoting the construction of logistics information platform, providing comprehensive logistics solution, launching or joining the investment into strategic projects that aim to improve logistics environment.
Project Name: Chongqing-Xinjiang-Europe International Railway Pacific Integrated Logistics International Multimodal Transport Joint-Venture Cooperation Project
Signing Unit: Yuxin’ou (Chongqing) Supply Chain Management Co., Ltd, Singapore-based Pacific Integrated Logistics
Project Description: Jointly-invested by Chongqing Transportation Holdings (Group) Co., Ltd. and Minsheng Shipping Co., Ltd., Yuxin’ou (Chongqing) Supply Chain Management Co., Ltd specializes in international traffic agent, warehousing, packaging, loading and unloading, transport and supply chain management. Singapore-based Pacific Integrated Logistics is a multinational that mainly specializes in international air and sea transportation agent, customs clearance, warehousing, domestic transportation, oil and gas supply base and other value-added services with its business spreading to Singapore, China, Malaysia, Cambodia and Thailand. The two parties plans to establish a new company, co-develop and operate Chongqing-Xinjiang-Europe International Railway and Air Multimodal transport and container collection, build Chongqing international logistics distribution center, develop supply chain information platform and supply chain financial services.
Three on Information Communication Sector
To Improve Resource Allocation Efficiency and Revitalize Innovative and Business Start-up Ecological System
Project Name: Zhubajie Overseas (Singapore) Service Crowd-sourcing Platform Construction Project
Signing Unit: Chongqing Zhubajie Network Co., Ltd., Singapore Press Holdings
Project Description: This project plans to build Zhubajie Overseas (Singapore) Service Crowd-sourcing Platform by cooperating with Singapore Press Holdings, which connects two places online and offline by relying on big data, cloud computing and many other technologies and provides a platform for global entrepreneurs.
Project Name: SocialCredits Science and Technology China-Singapore Enterprise Big Data Service Platform
Signing Unit: Chongqing SocialCredits Big Data Science and Technology Co., Ltd., Singapore Inter Wise
Project Description: Chongqing SocialCredits Big Data Science and Technology Co., Ltd. develops research with Singapore Inter Wise on the connectivity of cross-border enterprise information data and provides industry information, financial service and talent exchange for bilateral enterprises by the operation and technical service of cross-border enterprise big data service platform.
Project Name: China-Singapore ICT Enterprise Accelerator
Signing Unit: Chongqing Information Industry Investment Promotion Center, Singapore SGInnovate
Project Description: this project, based on Chongqing and Singapore, focuses mainly on big data, artificial intelligence, and internet of things. It aims to develop an international, professional, vigorous and sustainable innovative business start-up ecological system and further promote business start-up for everyone and innovation for everyone and infusion and innovation in internet and other sectors in economic society by gathering innovative and business-startups and talents in China, Southeast Asia and all over the world.
Two on other sectors
To introduce Singaporean medical and educational resources
Project Name: Singapore Raffles Medical Group (Chongqing) International Comprehensive Hospital Project
Signing Unit: Liangjiang New Area Management Committee, Singapore Raffles Medical Group
Project Description: Liangjiang New Area and Singapore Raffles Medical Group initiates strategic cooperation on relevant medical projects and establishes comprehensive medical institutions in Liangjiang New Area by taking advantage of the advanced management ideas and medical technologies of Singapore Raffles Medical Group.
Project Name: China-Singapore International Talent Cultivation and Cooperation Communication Center
Signing Unit: Talents Introduction Office of the CPC Chongqing Municipal Committee, Project Authority of China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity and Nanyang Technological University.
Project Description: This project establishes China-Singapore international talent cultivation and cooperation communication center, and provide training for government officials of Singapore and Chongqing, management staff of state-owned enterprises and special technical staff as well as cooperation on talent exchange and knowledge transferring.