Singapore and Chongqing strengthen bonds in finance, information, transport

Both agreed to explore opportunities in the digital and green economy. 

The Singapore government and groups from the municipality of Chongqing, China inked several deals to deepen its collaboration in financial services, information, and communication, as well as transportation and logistics sectors.

In a statement, the Ministry of Trade and Industry of Singapore said both parties also agreed to explore opportunities in the digital economy, green economy, and innovation. 

One of the memorandum of understanding (MOU) signed was the continuation of the Joint Innovation Development Fund (JIDF), which was first launched in 2019. The JIDF opened partnerships between Singapore and Chongqing firms in developing innovative projects, such as 18 projects in trade logistics, smart manufacturing, and intelligent transport.

The MOU was between the Information and Media Development Authority and Chongqing Big Data Development Bureau.

Apart from this, 29 other MOUs were signed which focused on financial services, healthcare, transport and logistics, and people-to-people exchanges. 

The online MOU signing ceremony was attended by Minister for Communications and Information and Second Minister for Home Affairs Josephine Teo and Chongqing Mayor Hu Henghua during the seventh joint implementation committee meeting for the China-Singapore Demonstration Initiative on Strategic Connectivity.