The 2020 China-Singapore (Chongqing) Connectivity Initiative Financial Summit (CCI-FS) was held on November 23–24  in Southwest China's Chongqing Municipality and Singapore simultaneously.

Following the theme of  Enhancing Financial Connectivity, Contributing to and Sharing Benefits of the CCI-ILSTC, this summit is staged online and offline. During the event, multi-level, multi-dimensional, and multi-perspective discussions and dialogues were carried out to seek the prospect of cooperation and development.

High-level and influential

The summit invited nearly 200 important guests from the financial, business, and academic circles at home and abroad. They include leaders above the deputy governor level of central banks and senior executives of international financial institutions of  Association of Southeast Asian Nations (ASEAN) countries, leaders of governments and enterprises of 12 provinces, autonomous regions, and municipality directly under the Central Government in western China, leaders of large national financial institutions, and several renowned experts and scholars.

Focusing on green finance, FinTech, trade financing, financial innovation, digital currency, and other topics, the summit aims to promote the construction of economic and trade cooperation mechanisms along ILSTC and explore the path of digital economy development industrial chain transformation and upgrading. Its purpose also lies in deepening international and inter-regional economic and financial cooperation to provide intellectual and practical support for constructing an inland international financial center based in the west and radiating to ASEAN.

Reformative and innovative

The summit adheres to the new development concept, continues to deepen the supply-side structural reform of the financial sector, and promotes the establishment of a "dual circulation" development pattern in which the domestic economic cycle plays a leading role while the international economic cycle remains its extension and supplement. It also strives for a new situation of "face-to-face" cooperation between western China and ASEAN, driven by the "point-to-point" financial matching between Chongqing and Singapore.

Besides, a parallel session on "Cross-border Financial Cooperation Between China and ASEAN and RMB Internationalization" was held during the summit, aiming to achieve policy reciprocity, market interaction, and resource complementarity in the financial field, and to promote the establishment of a "dual circulation" development pattern.

Moreover, a closed-door meeting on "Building Western Financial Center—Financial Support for the Construction of Chengdu-Chongqing Economic Circle" was staged as well. It aims to facilitate better cross-regional cooperation among financial institutions, regional market connectivity, and coordinated development of characteristic industries, promote the construction of Chengdu-Chongqing's economic circle, and boost the domestic market.

Open and pragmatic 

The summit follows the trend of opening-up and cooperation, fits in with national development strategies, highlights services for the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) injects strong impetus into China-Singapore financial cooperation.

Under the framework of China-Singapore financial cooperation, Chongqing Municipal People's Government and the Monetary Authority of Singapore (MAS) co-sponsored the first annual meeting of the China-Singapore Financial Expert Advisory Group to provide advice and ideas on the direction, development planning, financial innovation, and policy projects of China-Singapore financial cooperation, and to let the attendees feel the vitality brought by the cooperation.

Additionally, focusing on the four major fields of financial services, aviation industry, transportation and logistics, and information communication, the summit held an online signing ceremony to build a platform for cooperation between the government and financial institutions, financial institutions and enterprises, and enterprises and enterprises. The platform promoted the signing and implementation of a batch of major projects during the event to achieve win-win cooperation.