Chongqing- China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity Administrative Bureau took the initiative to roll out 12 measures, as an overall plan of Chongqing for comprehensive trials on further opening up the service sector was issued recently.
These measures involved financial services, aviation, trade facilitation, information communication, sci-tech innovation, health care, and talent guarantee.
Raffles City Chongqing and Jiangbeizui CBD. (Photo/ Xiao Yao)
Regarding financial services, the bureau will actively support Singapore enterprises to pilot the qualified domestic limited partner; encourage eligible local corporate banks and enterprises to issue green bonds in Singapore, and promote cooperation between the two countries in green finance.
Take building Jiangbeizui China-Singapore Fintech Industry Demonstration Base as the breakthrough point. The bureau will help establish China-Singapore Fintech Collaboration Demonstration Zone, exploring encouraging Singapore financial institutions to participate in pilot policies, such as foreign-invested securities companies.
With respect to the aviation industry, the bureau will cooperate with relevant municipal departments, districts, and counties to strengthen resource integration, support establishing an air express transfer center and a regional distribution center, and build a national airport-based logistics hub.
Regarding trade facilitation, the bureau will work with relevant municipal departments and Singapore's relevant government agencies to carry out the pilot of international cooperation for international trade and explore to facilitate international settlement of trade in services deeply and effectively.
When it comes to information communication, the bureau, relying on China-Singapore (Chongqing) Dedicated Channel on International Internet Data, will cooperate with relevant departments to explore data classification, data exit safety assessment pilot, and other related work.
Meanwhile, for sci-tech innovation, the bureau will build a sci-tech cooperation mechanism between the governments of Chongqing and Singapore, and cooperate with relevant departments and open platforms to promote innovation resources such as universities, research institutions, and enterprises from Singapore to gather in Chongqing, enhance the capacity of collaborative innovation, and push forward with the application and commercialization of scientific and technological achievements.
In terms of health care, the bureau, together with relevant municipal departments and relevant districts and counties, will promote Chongqing China-Singapore Tumor Hospital to obtain the practice license of a medical institution and complete the registration of a private non-enterprise institution to ensure that the first Sino-foreign joint-stock non-profit medical institution in Chongqing will provide international medical services for residents.
Furthermore, to welcome more international talents, the bureau will cooperate with relevant municipal departments, actively strive for favorable policies from the ministries and commissions of China, assist in contacting Singapore's competent authorities and industry associations, and explore the feasibility of allowing talent with Singapore vocational qualifications to provide professional services in Chongqing and recognizing their working experience in Singapore.
After three years of pilot efforts, Chongqing will relax restrictions on market access, reform the regulatory model, and optimize the market environment, to create a new paradigm of the opening of the service sector with a more open market, a more standardized system, more effective regulation, and a sounder environment.
Efforts will be made to deepen China-Singapore cooperation in key areas.
Through making good use of major strategic opportunities such as the construction of the Chengdu-Chongqing economic circle and the comprehensive trials on the opening of the service sector in Chongqing, implement the development plan for China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity to a high standard, and deepen cooperation in the fields such as financial services, aviation industry, transport and logistics, and information communication.
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