On November 27, the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) Consulting Experts Symposium was held in Chongqing. Backed by the effective promotion of China-Singapore projects, Singapore has become Chongqing’s second-largest source country for foreign investment.

2019 CCI Finance Summit

Since the implementation of CCI, the two parties devoted considerable effort to financial services, aviation industry, transportation and logistics, and information communication. They also actively encouraged cooperation in education and training, cultural tourism, creation and innovation, real estate development, and healthcare. As of now, the number of cooperation agreements and projects signed between Chongqing and Singapore has totaled 55 and 203, respectively, valuing over USD 27 billion. Given that, the investment from the country in the city rose from 4.9% to 28.8%.

Attending experts from the two countries offered valuable suggestions on CCI.

Yang Jian, Director of the Center for China’s Relations with Neighboring Countries of Fudan University, said that opening the doors wider to the world under the current economic environment showed China’s role as a responsible power. ASEAN countries needed China in economic development.

Li Mingjiang, Associate Professor at the S. Rajaratnam School of International Studies, Nanyang Technological University, believed ASEAN countries enjoyed a sound environment for economic growth in the upcoming dozens of years. Relying on CCI, they shared an extensive cooperation space with China, especially Chongqing, and owned a promising future.