Chongqing - China and Singapore are expanding cooperation under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (CCI), with a new round of projects focusing on the digital economy, financial services, logistics, healthcare and innovation as the two sides seek to deepen regional connectivity.

Raffles City Chongqing is a landmark complex developed by Singapore-based real estate group CapitaLand. (Photo/Raffles City Chongqing)

The 11th meeting of the Joint Implementation Committee (JIC-11) of CCI was held in Chongqing on September 14, co-chaired by Singapore Minister for Digital Development and Information Josephine Teo and Chongqing Mayor Chen Xinwu. Officials from both sides reviewed progress since the previous meeting and discussed future cooperation plans.

Raffles Hospital in Chongqing Liangjiang New Area, established under CCI. (Photo/Raffles Hospital)

Teo said the meeting marked a new stage for the initiative following its 10th anniversary celebrations. She said Singapore and Chongqing should further deepen cooperation in financial and digital connectivity, leveraging Singapore's capital markets and financing ecosystem to help Chongqing companies expand internationally.

She also called for greater cooperation in secure and trusted digital trade, as well as efforts to upgrade the New International Land-Sea Trade Corridor (ILSTC) from a transport route into a broader trade and supply chain network, providing more efficient end-to-end solutions for markets in western China, Southeast Asia and Central Asia.

Chen said the two sides should continue to expand cooperation across multiple areas, including finance, aviation, logistics and information connectivity. He called for deeper collaboration in the digital economy, artificial intelligence and green, low-carbon development, while creating more digital and sustainable cooperation outcomes.

China-Laos-Thailand-Malaysia cross-border railway train service achieves two-way operation. (Photo/China Railway)

Following the meeting, 15 cooperation projects were signed in areas including digital economy, financial services, transport and logistics, education and innovation, healthcare and professional services.

Platform connects Chongqing brands with Southeast Asian markets

At the JIC-11 meeting, Singapore-based Louken Group signed strategic cooperation agreements with two Chongqing companies, including Xinyu Presented (Chongqing) Liquor Trade Co., Ltd., to help local brands enter Southeast Asia.

Chinese baijiu products from Xinyu Chupin (Chongqing) Liquor Trade Co., Ltd. (Photo/Xinyu Chupin (Chongqing) Liquor Trade Co., Ltd)

Louken Group CEO Lee Haoming said many companies in China think that if they sell well in China, they will also sell well overseas, but overseas markets are different. Companies need to understand consumer habits, channels, branding and packaging.

"When you want to internationalize into foreign markets, the first thing you have to think about is what your brand speaks to overseas consumers," Lee said.

For Xinyu, the partnership provides international market expertise. Founder & CEO Deng Rui said the company focuses on product development, while Louken understands Southeast Asian consumers, marketing and distribution.

Deng added that the partnership is designed as a two-way platform: Chinese products can enter Southeast Asia, while quality products from Singapore and the region can also be introduced to China.

Singapore serves as the first overseas testing ground because of its international consumer base and regional connectivity. Lee said the city-state provides a useful platform for brands seeking to expand into Southeast Asia.

Building cross-border financial and logistics links

Financial and logistics connectivity are also becoming key drivers for companies expanding overseas.

United Overseas Bank (UOB) Chongqing Branch signed a project related to one-stop China-ASEAN cross-border financial services at Chongqing Raffles City International Financial Center.

Huang Ying, president of UOB Chongqing Branch, said the bank provides services including cross-border capital pools, Southeast Asian currency solutions and supply chain financing to support companies expanding overseas.

She said one challenge for companies going abroad is managing different currencies across markets. The bank has introduced solutions for direct exchange between Southeast Asian currencies and the Chinese yuan, as well as cross-border financing services to improve capital efficiency for companies involved in trade and investment.

Li Yingfei, chairman of Shenzhen Jiuzhou International Logistics, said his company chose to cooperate with Chongqing because of the city's supportive logistics environment and government services, and Chongqing's China-Europe freight train services provide a competitive option for cross-border e-commerce businesses.

Li said recent changes in European customs rules have made logistics efficiency more important for cross-border sellers. The EU ended duty exemptions for low-value parcels under 150 euros in July 2026 and introduced a temporary 3-euro customs duty per item, pushing businesses to seek more cost-effective transport solutions.

"The cost of China-Europe freight trains is about one-third to one-fourth of air freight," Li said. "Although it is more expensive than sea shipping, it is around 10 to 20 days faster, so many sellers are willing to choose this option because of its cost-effectiveness."

A China-Europe freight train departs from Chongqing, southwest China. (Photo/China Railway)

He added that platforms such as SHEIN, TEMU and TikTok are increasingly paying attention to logistics efficiency as overseas markets face rising costs.

"With changes such as tax adjustments in Europe, sellers need to reduce logistics costs," Li said. "China-Europe freight trains provide an important solution, and overseas warehouses are also becoming part of this model."

Li said the company is also exploring more cooperation with Chongqing by bringing e-commerce goods from coastal areas to the city and then using Chongqing's international logistics channels for overseas distribution.