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China-Singapore financial summit held in Liangjiang

Updated: 2020-11-25

The 2020 China-Singapore (Chongqing) Connectivity Initiative Financial Summit was held simultaneously in Chongqing's Liangjiang New Area and Singapore on Nov 23.

During the summit, Chongqing and Singapore signed 46 project agreements with a total value of 77.4 billion yuan ($11.76 billion). Among them, six project deals were signed by Liangjiang with a contract volume of 16 billion yuan.

These include a renminbi fund of 500 million yuan ready to be invested in underlying technology innovation, such as artificial intelligence, big data, cloud computing and blockchain.

The fund will benefit Liangjiang's financial technology-related industrial parks and companies and attract cross-border financial technology projects to Chongqing, helping the city become an inland international financial center.

Meanwhile, Artisan Investment Management Limited from Hong Kong will establish a $1-billion fund in Liangjiang to serve the environmental, social and governance development in the Chengdu-Chongqing economic circle.

The fund's first stage will reach $500 million for industries involving environmental protection and new infrastructure.

Shanghai-based CMC Capital Group will co-establish a fund with Liangjiang. The fund will be at least 2 billion yuan, aiming to build investment platforms and industrial transformation and upgrading platforms for consumers' technologies.

Taking the financial summit as an opportunity, Liangjiang hopes to attract more finance factors from around the world to boost its finance industry.

Statistics show that during the first three quarters of this year, Liangjiang's finance industry achieved an added value of 29.7 billion yuan, a year-on-year increase of 6.1 percent.


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