Fund supporting S'pore-China innovation projects gets a boost

Chongqing is a major logistics hub in China that has trade linkages to Central Asia through the Xinjiang autonomous region and is located along China's Yangtze River Economic Belt, which encompasses 11 provinces and accounts for about half of the country's population and economic output.

- 

The annual Joint Council for Bilateral Cooperation - the apex bilateral platform of Singapore and China - and related meetings were held in Chongqing to mark the 10th anniversary of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity. It is a platform to boost connectivity between western China and South-east Asia. PHOTO: MDDI

(MDDI)

Cargo volumes along the CCI-ILSTC grew 15 per cent between 2022 and 2024.

According to the latest announcements on Dec 15, expansion plans for the CCI in its next decade of growth include supporting the digital and green development of the CCI-ILSTC, such as the use of carbon tracking along the trade corridor, and the sharing of information on digital and data policies between Singapore and China.

Pointing to the latest upgraded trade pact between ASEAN and China signed in October, Mrs Teo said: "Economic integration as a backdrop provides us with exciting imperatives in terms of advancing this development of the CCI-ILSTC.”

The upgraded free trade pact between ASEAN and China covers areas such as the digital and green economies as well as supply chain connectivity.

Mrs Teo also told Singapore media that the China (Chongqing)-Singapore Information Communication Media Joint Innovation Development Fund to support innovation projects from companies in Singapore and Chongqing will be given a boost as part of the latest collaborations.