On September 14, 2021, the China-Singapore Strategic Connectivity Demonstration Project Financial Service Alliance and Financial Service Center was established in Chongqing. The alliance will play the role of platform services, coordination, communication, and expansion to help build a new pattern of "face-to-face" financial opening in Western China and ASEAN countries.

The relevant person in charge of the Chongqing Sino-Singapore Demonstration Project Management Bureau introduced that the China-Singapore Interconnection Project Financial Service Alliance was jointly initiated by 21 units including the Chongqing Sino-Singapore Demonstration Project Management Bureau, Bank of China Chongqing Branch, and DBS Bank Chongqing Branch. Committed to jointly promoting financial openness and cooperation, serving the high-quality development of the real economy, helping to build a "point-to-point" connection between Chongqing and Singapore, driving a new pattern of financial openness with "face-to-face" interconnection between Western China and ASEAN countries, and serving countries and regions along the Belt and Road. Financial intermediation.

The first 21 member units of the China-Singapore Interconnection Project Financial Service Alliance include policy banks, large state-owned commercial banks, joint-stock commercial banks, local corporate banks, foreign banks and non-bank financial institutions. The alliance will mainly provide services from three aspects: one is to provide comprehensive and diversified cross-border financial services for enterprises in Chongqing and western China; the second is to provide financial services for Singapore and ASEAN enterprises to develop in China; and the third is to jointly develop cross-border financial services. Financial cooperation services. Services include cross-border bond issuance, international commercial loans, equity financing services, trade financing services, etc.

Under the alliance is the China-Singapore Interconnection Project Financial Service Center (the Alliance Secretariat), which will carry out the establishment of the alliance joint working conference system, the release of financial service supply and project financial demand, the research and resolution of specific problems in the advancement of financial projects, and the regular release of China-Singapore Daily work such as interconnecting financial projects, summarizing and selecting the best project cases in the financial field of the year.

Keywords: One Belt One Road, overseas projects, interconnection

It is reported that Chongqing has made every effort to promote a new phase of financial cooperation between China and Singapore. Now it has successfully promoted Chongqing companies to restart overseas debt issuance after the epidemic, facilitated the establishment of the Standard Chartered Bank China-Singapore Interconnection Project Financial Service Center and DBS Bank Chongqing Branch to settle in Chongqing, and helped Singapore companies obtain the first Chinese QDLP (Qualified Domestic Limited Partnership) pilot approval Qualifications etc. In 2021, the China-Singapore cross-border financing channel has accumulatively landed 27 projects, and the financing amount is equivalent to 3 billion US dollars. The number and amount of landed projects are higher than the number and amount of projects in each year since 2017. Editor/Tian Zengpeng