The China-Singapore Connectivity Initiative will focus on two major areas to create a new model for international cooperation.

Reporters learned from a press conference held by the Information Office of the Chongqing Municipal Government on the 10th that in the next stage, the China-Singapore Connectivity Initiative will mainly focus on two major areas: digital economy and green development. By 2030, the initiative aims to become a new model for international cooperation in digital rules opening-up and green development.

The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (hereinafter referred to as the China-Singapore Connectivity Initiative) is the third inter-governmental cooperation project between China and Singapore. This year marks the 10th anniversary of its implementation.

Zhang Yongwu, Director of the Chongqing Municipal Commission of Commerce and Director of the Administrative Bureau of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, said at the press conference that over the past 10 years, the China-Singapore Connectivity Initiative has signed a total of 347 government and business cooperation projects with a total value of US$26 billion. The cumulative cross-border financing amount has reached US$21.7 billion. The two sides have explored and achieved 33 institutional opening-up outcomes with pioneering and highly recognizable features, successfully establishing a new pattern where China (Chongqing) and Singapore are directly connected, driving face-to-face cooperation between China's western region and ASEAN countries.

Zhang Yongwu said that in the next step, the China-Singapore Connectivity Initiative will mainly focus on two major areas: digital economy and green development. In terms of the digital economy, the focus will be on meeting the needs of enterprises for "difficult cross-border data flow" and citizens for "upgrading the digital service experience". For example, in the construction of the Digital New International Land-Sea Trade Corridor, the scope of container data sharing between Chongqing Port and Singapore Port will be expanded to provinces (autonomous regions and municipalities) along the New International Land-Sea Trade Corridor and international transit sections, achieving "through bill of lading", further helping enterprises simplify customs clearance procedures and improve customs clearance efficiency; pilot cross-border settlement using digital RMB will be carried out and its application will be expanded in scenarios such as cross-border trade, reducing intermediate links and lowering transaction costs for small and medium-sized enterprises.