iChongqing Title

Chongqing and Singapore Secure Key Projects Worth Over One Billion Yuan

By RAN ZHENG|Jun 02,2024

Chongqing - On May 29, the Sino-Singapore (Chongqing) Science and Technology City and Hub Port Industrial Park Promotion Conference in Singapore attracted over 100 companies from Singapore, Germany, the UK, and other countries. 

The event included a signing ceremony for 12 key projects in life sciences, advanced manufacturing, materials, and logistics, totaling over one billion yuan (about USD 140 million).

The Sino-Singapore (Chongqing) Science and Technology City and Hub Port Industrial Park Promotion Conference. (Photo/CCIB)

At the conference, the Port and Logistics Office of the Chongqing Municipal People's Government detailed the development strategy for Chongqing, its hub port industrial park, and its science and technology city. District governments from Jiangjin, Jiulongpo, and Bishan promoted their areas, receiving positive feedback from international enterprises.

The Sino-Singapore (Chongqing) Science and Technology City project is pivotal for Chongqing under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) to build a 100-billion-yuan level biomedical industry cluster.

Officials from the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity Administrative Bureau (CCIB) highlighted that the project combines Chinese medicine with Singapore's international biomedicine. It aims to create an innovation chain for education, R&D, and manufacturing and a health management services chain integrating medical care, healthcare, and recreation.

Bishan District, which boasts leading companies such as BYD, Sugon, and Konka, has developed clusters in new energy vehicles, electronic information, and digital economy. It supports 1,784 science and technology enterprises, bolstering its technological innovation capabilities.

Benefitting from its location in Bishan, the Science and Technology City integrates digital technologies like big data, IoT, blockchain, and AI with the medical industry.

A spokesperson from the CCIB expressed hopes that this event would strengthen ties and attract more Singaporean enterprises to the CCI.

The CCI has been a fruitful intergovernmental cooperation project between China and Singapore, securing 25.6 billion dollars in cooperation projects and 20.7 billion dollars in cross-border financing over eight years. The cumulative bilateral trade has reached 72 billion yuan, with Singapore becoming Chongqing's largest source of foreign investment, showcasing the dynamic vitality of Chongqing-Singapore cooperation.

Jiangjin District, located at a strategic point along the Belt and Road Initiative (BRI) and the Yangtze River Economic Belt, has enhanced its infrastructure with projects like the Luohuang Port expansion, increasing its port throughput capacity to 20 million tons and container capacity to 600,000 TEUs. Additional upgrades in the area aim to enhance the bonded cold warehouse facilities, thereby strengthening connectivity with the China-Europe Railway Express and the Yangtze River waterway.


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