The opening ceremony of the China-Singapore (Chongqing) Connectivity Initiative Financial Summit 2021 [Photo/Visual Chongqing]

The China-Singapore (Chongqing) Connectivity Initiative Financial Summit 2021 was unveiled on Nov 23 in Southwest China's Chongqing municipality and Singapore through both online and offline channels.

Agreements for a total of 85 China-Singapore projects were signed during the opening ceremony for the two-day event. The projects involve financial and strategic social cooperation between the two counties in the 14th Five-Year Plan period(2021-25), and will significantly strengthen western China's partnership with ASEAN countries.

Centering on financial stability and opening-up, as well as the establishment of a modern financial system, the summit will include several forums, an annual meeting for financial specialists and consultants, a financial technology festival, and an exhibition of the latest financial achievements. More than 110 experts from China and other ASEAN countries were invited to share their insights.

As a landmark meeting of the China-Singapore (Chongqing) Connectivity Initiative, the summit is seen as a useful exchange platform for financial communities in China's western regions and ASEAN members.

Yang Liming, minister of Singapore's Ministry of Communications and Information, addressed the summit at the opening ceremony, saying that Singapore is working on strengthening partnerships with Chongqing in the cross-border financing, green financing and trade financing sectors. In addition, financial services will support the improvement of New Land-Sea Corridor infrastructure and boost the trade digitalization process.

Officials from the Ministry of Commerce, domestic banks, and financial institutions from Singapore, Brunei, and Cambodia also delivered keynote speeches at the summit.