Chongqing - Chongqing recently launched initiatives to explore Singapore's fintech sector, marking the ninth anniversary of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI) and the Singapore Fintech Festival.

The event brought together representatives from the Chongqing Municipal Government, Liangjiang New Area, Yuzhong District, Jiangbei District, and other government institutions. It focused on exploring the potential of AI and quantum computing to revolutionize financial services and drive sustainable economic growth.

The signing ceremony of a strategic cooperation agreement will strengthen Suzhou and Chongqing's cooperation in the fintech sector and promote China-Singapore fintech collaboration. (Photo/CCITT)

During the event, the Chongqing China-Singapore Demonstration Initiative on Strategic Connectivity Think Tank (CCITT) and the Suzhou Fintech Association signed a strategic cooperation agreement aimed at strengthening cooperation between Suzhou and Chongqing in the fintech sector and advancing China-Singapore fintech collaboration.

This cooperation aligns with the broader goal of enhancing China-Singapore relations, which have evolved into a comprehensive, high-quality, forward-looking partnership. The agreement seeks to deepen collaboration between the Suzhou and Chongqing initiatives under the CCI framework, particularly in the fintech sector.

The partnership will also focus on joint research, cultural exchange, ecosystem development, and resource sharing. Both parties will benefit from initiatives such as the China-Singapore Joint Innovation Development Fund (JIDF) in information and communications technology.

In another significant step towards boosting fintech collaboration, the Global FinTech Institute (GFI), the Yuzhong District Bureau of Industrial Development Promotion in Chongqing, and CCITT signed an agreement to establish the GFI Chongqing Academy.

The Signing Ceremony of Strategic Cooperation Agreement to Establish the GFI Chongqing Academy. (Photo/CCITT)

The agreement outlines plans for establishing the GFI Chongqing Academy, which will focus on building a fintech talent hub, implementing the FLEX digital platform, and organizing events related to digital finance.

As GFI's third academy in China, the Chongqing Academy will play a key role in advancing the development of Western China's financial and talent centers.

The GFI is committed to fostering cooperation between regulatory bodies, businesses, and academic institutions. It will conduct research, produce white papers, and facilitate discussions to address challenges in the digital asset field and shape industry standards.

(Ma Manlin, as an intern, also contributed to this report.)