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Singapore has become the 2nd largest source of foreign investment in Chongqing
Time:2019-12-06pageviews:

On November 27, a consultation meeting of experts on the China-Singapore (Chongqing) connectivity project was held in Chongqing. A reporter from Chongqing Daily learned that Singapore has become the second largest source of foreign investment in Chongqing, thanks to the success of the China-Singapore connectivity project.

 

Since the implementation of the China-Singapore connectivity project, the two sides have focused on four major fields including financial services, transportation, logistics, aviation industry, and information and communication. At the same time, both sides have been actively promoting education and training, cultural tourism, creative innovation, real estate development, medical health cooperation. So far, a total of 55 cooperation agreements have been signed and 203 cooperation projects have been signed, with a total value of more than $27 billion. Driven by these projects, Singapore has become the second largest source of foreign investment in Chongqing, with the proportion of investment from Singapore rising from 4.9% to 28.8%.

 

Several experts from China and Singapore also made suggestions on the China-Singapore connectivity project.

 

Mr Yang Jian, director of the Center for China’s Relations with Neighboring Countries of Fudan University, former China ambassador to Brunei, suggests that in the current global economic environment, China's wider opening up reflects the responsible demeanor of a major country. ASEAN countries need China's strength for economic development.

 

Dr Li Mingjiang, associate professor at S. Rajaratnam School of International Studies, Nanyang Technological University, believes that as ASEAN countries have a sound economic development environment, relying on the China-Singapore connectivity project, ASEAN countries will enjoy wide cooperation and bright development prospects with China, especially with Chongqing in the coming decades.

 

Source: Chongqing Daily

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