Chongqing- As an inland municipality, Chongqing is playing an important role in Western China's open-up, while the  China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) is a key-driven factor of the city's opening up in international logistic and financial areas. On the 5th anniversary of CCI, Han Baochang, director of China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity Administrative Bureau presented the state of implementation five years after the project was first launched, at a press conference held by the Chongqing Municipal Government on November 7.

Chongqing is the center of operations, where the project has radiated influence over the entire western region of China to form a new practical model of cooperation between the governments of China and Singapore.

As a result, the project has strengthened connectivity between Chongqing and Singapore and has elevated Chongqing's stature as a leader in western China. It has also promoted trade and economic exchange. This cooperation has produced many groundbreaking achievements that have raised Chongqing's profile in a number of multi-field arenas.

The CCI is continuing to strengthen cooperation in financial services, transportation, logistics, information, communications, and the aviation industry. They have been actively exploring models for sustainable business and cooperation that can be replicated elsewhere. Additionally, they have successfully pioneered international land-sea trade as an organic connection in the Belt and Road Initiative in Chongqing.

China and Singapore have established the mechanism for cooperation in the New International Land-Sea Trade Corridor. They are encouraging ASEAN countries and those along the Belt and Road to participate in the project's construction.

A dedicated point to point internet data channel between China and Singapore has also been successfully launched, which will create an information highway that connects between Western China and ASEAN.

As Chongqing plays an ever more important role in Western China, a priority has been to expand domestic circles of influence within surrounding provinces, autonomous regions, and municipalities through the new land-sea route. This new level of cooperation will develop joint construction and the sharing of resources in the region.

By October 2020, the China-Singapore interconnection project has financed over US$4.2 billion in eight provinces, including Sichuan, Xinjiang, and Shaanxi. It is hoped this successful model can be replicated for other regions.

In Chongqing, 26 districts and counties have been encouraged to participate, and over 500 enterprises and investment institutions in the western regions have been assisted in connecting to the international capital market. The goals are to expand the international vision of enterprises and enhance their ability to participate in international cooperation.

Over the past five years, relevant national ministries and commissions have undertaken 66 innovative policies and measures to promote innovation and cooperation in various fields.

Among these, the project has led to the creation of waybill financing and has launched a dual export guarantee channel as part of a trade financing initiative. The innovative L/C settlement + Sea-Rail multimodal transport" business model has also been launched in Western China.

In a groundbreaking development through the interconnectivity project, Born Group of Chongqing has acquired a remittance license from Singapore, the first Chongqing enterprise to have successfully applied for such a license in the area of finance.

By the end of September 2020, cross-border settlements, investment, and financing between Chongqing and Singapore amounted to USD 36.78 billion.

In the field of aviation, business cooperation between Chinese and Singaporean airports has seen the fruition of a talent cultivation plan. It has established the China-Singapore (Chongqing) Information and Communication Alliance. It has also created a joint innovation and development fund for media in information and communications.

Over the past two years, Chongqing has made Singapore guest of honor in two consecutive editions of the Smart China Expo, where Singapore assumed a joint organizer's role in 2020. Additionally, the project has led to Singapore hosting two financial summits to promote the construction of an inland international financial center.

Chongqing has organized several high-level exchanges on joint construction for the new land-sea channel, where invitations were extended to leaders in western provinces, autonomous regions, as well as heads of large enterprises, experts, scholars, and ASEAN diplomatic envoys.