Chinese companies earned $6 billion through China-Singapore program

Beijing. March 14. Silkroadnews - Over the past two years, Chinese firms have earned more than $6 billion in 64 cross-border financing deals through the China-Singapore intergovernmental program, Xinhua reports.
According to the program’s administration bureau, the deals were concluded in the fields of issuing overseas bonds, commercial loans and financial leasing.
It is believed that the program has effectively reduced financial costs for enterprises in western regions of China.
The south-western municipality of Chongqing became the operational center of the China-Singapore Demonstration Initiative on Strategic Connectivity in 2016.
The initiative is aimed at pilot cooperation in various fields, including financial services, aviation, logistics and information technology.
This is the third such deal between the two countries after the Suzhou Industrial Park, established in the eastern Jiangsu Province in 1994, and the Eco-City of Tianjin, opened in 2008 in the north of China, the report said.