China-Singapore connectivity initiative sees 286 projects inked

A total of 118 business cooperation and 168 cross-border financing projects have been inked so far within the framework of a China-Singapore connectivity initiative, according to official data.

The value of the business cooperation and cross-border financing projects agreed under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity amounted to 21.4 billion and 15.5 billion U.S. dollars, respectively, according to data released at a press briefing on Friday.

The agreements signed under the initiative mainly fall into four categories: financial services; air transportation; logistics; and information and communication technologies.

From January to May, the air route linking southwest China's Chongqing Municipality and Singapore recorded over 3,400 passengers and transported nearly 1,700 tonnes of goods. The passenger volume accounted for 40 percent of that of the international air routes of the Chongqing Jiangbei International Airport.

The China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity aims to conduct pilot cooperation in various fields. It is the third such cooperation initiative between China and Singapore, following the Suzhou Industrial Park established in China's eastern province of Jiangsu in 1994, and the Tianjin Eco-city inaugurated in 2008 in north China.