The Chongqing International Logistics Hub Park is a key node of the ILSTC, with containers neatly arranged within the park. (Photo/Wang Quanchao)

Chongqing - In a move to fortify the financial architecture supporting one of China’s pivotal international trade arteries, the New International Land-Sea Trade Corridor (ILSTC), the Financial Service Center for ILSTC (the Center) officially opened in Chongqing on February 5, embarking on its substantive operations.

The launch marks the culmination of a top-down push to unify and enhance financial services for the ILSTC. In December 2025, a formal policy directive from the People's Bank of China (PBC) and seven other ministries set the foundation for the Center.

"Its core mandate is to break down financial silos across regions, integrate resources, and engineer innovative financial solutions tailored to the unique demands of cross-border and multi-modal logistics," explained a senior official involved in the Center's establishment.

The Center acts as the "financial brain" and resource hub for the ILSTC. Externally, the Center will coordinate cross-regional and cross-border financial cooperation between provinces along the ILSTC and ASEAN countries, promoting the efficient flow of financial resources.

Internally, the Center coordinates financial activities across the ILSTC by managing the release and implementation of ILSTC financial policies, promoting innovative products, and operating a digital platform for data aggregation. It also offers legal consultation, credit inquiries, and other services, while supporting financial decision-making through research and the sharing of best practices.

Yao Li, Governor of the Chongqing Municipal Branch of the PBC, stated that moving forward, the Center will accelerate the establishment of unified databases for directories, policies, and products. Leveraging digital platforms, it will promote the integration of cross-regional logistics, trade data, and consolidate domestic and international financial resources.

The ILSTC, a strategic initiative, functions as a critical land-sea logistics link. It connects China's inland regions, particularly the southwest, to Southeast Asia and beyond via ports in Guangxi and other provinces, synergizing with the Belt and Road Initiative and the Yangtze River Economic Belt.

The expansion of ILSTC relies heavily on financial backing, from logistics hubs to cross-border trade. By the end of 2025, financing in ILSTC-related sectors surpassed 730 billion yuan (about 105 billion U.S. dollars), while trade and investment with ILSTC-linked countries exceeded 140 billion U.S. dollars.

Currently, financial support for ILSTC has formed a comprehensive, multi-layered system, with a core focus on cross-border yuan payments. China explores international cooperation in digital finance and promotes the use of the digital yuan for cross-border payments. Yao said that by leveraging initiatives such as the China-Singapore bilateral digital currency pilot program, Chongqing’s cross-border transactions have exceeded 2 billion yuan.