Chongqing–The RCEP Opportunities and Inland Openness Matchmaking Session was held in Chongqing on November 24, one of the special activities of China—Singapore （Chongqing）Connectivity Initiative Financial Summit 2021 (CCI-FS 2021).

Support RCEP cooperation and development

During the session, representatives of Chongqing's government and banking sector signed the Proposal of Government and Banking Sectors Working Together to Support Regional Comprehensive Economic Partnership(RCEP) Cooperation and Development with RCEP member states online.

In the Proposal, the parties have reached a consensus on nine aspects: the great significance of the signing of the RCEP agreement to regional economic growth and financial market prosperity, strengthening studies on RCEP rules and related prospective studies, supporting regional trade liberalization and facilitation, promoting the open development of regional financial services, driving the regional use of RMB prudently, advancing the high-quality construction of the New International Land-Sea Trade Corridor (ILSTC), supporting green, low-carbon, and sustainable development, supporting the development and economic and technological cooperation of SMEs, and building a regional financial platform for mutual benefits and sharing.

Chongqing Municipal Commission of Commerce, Chongqing Local Financial Supervision and Administration Bureau, MCBC, and CCB's organizations at home and abroad initiated this Proposal jointly. Including Chongqing Branch, Sichuan Branch, Shanxi Branch, Singapore Branch, Ho Chi Minh City Branch, China Construction Bank (Malaysia) Berhad, CCB Indonesia, Tokyo Branch, Seoul Branch, Sydney Branch, China Construction Bank (New Zealand) Ltd., China Construction Bank (Asia), and Macau Branch. Above all, They strive to support establishing a multilateral trade system and aim to make the system transparent, open, inclusive, non-discriminatory, and rule-based.

Promote connectivity between western China and RCEP

The parties concerned have also proposed to advance the high-quality construction of the ILSTC. Specifically, they encourage leveraging financial resources at home and abroad and participating in the construction of key projects along the ILSTC. Including transportation channels and logistics facilities. In addition, it promotes infrastructure connectivity between western China and ASEAN and other RCEP member states. The ILSTC and RCEP rules will improve and innovate cross-border logistics finance, channel operation, and logistics efficiency and develop cold-chain, modern manufacturing, bulk commodity, and e-commerce logistics. It will also provide one-stop quality financial services for logistics, warehousing, commerce and trade, and other enterprises in RCEP member states.

Help products of western China go global

To grasp the new opportunities, a matchmaking meeting was held to help farmers develop commerce. Its purpose is to aid advantageous industries, and characteristic products in western China go global. Moreover, it aims to import quality products from RCEP member states. Furthermore, its goal is to support the high-quality development of cross-border trade.

Wei Jie, President of Chongqing Yumaotong Supply Chain Management Co., Ltd., introduced the "Brands Going Global · Helping Farmers Develop Commerce" Project under the Yumaotong Foreign Trade Service Platform of Chongqing Foreign Trade and Economic Cooperation (Group) Co., Ltd. Deng Jun, Deputy Director of the Singapore Chinese Chamber of Commerce & Industry, Wen Yiwu, Head of TRUSTANA China, and Zhao Xin, Director of Operations of Womai Co., Ltd. in Malaysia introduced their respective products and business activities online or offline.