Singapore, China leaders hail growing ties, sign 27 agreements at annual apex meeting to deepen cooperation

It is a key priority demonstration project for China’s Belt and Road Initiative, the western region development, and the Yangtze River Economic Belt Strategy.

Over the past decade, Singapore’s investments in Chongqing have more than doubled – increasing from US$5.7 billion in 2015 to US$12.7 billion in 2024.

Since its launch, the CCI has facilitated US$21.8 billion in cross-border financing for enterprises in Chongqing and western China through Singapore.

“The CCI emerged from a shared, ambitious vision to strengthen cooperation and connectivity between western China and Southeast Asia,” Mr Gan said.

“There is scope to do even more in the next decade and beyond, by deepening connectivity to other markets and expanding collaboration into new sectors,” he added.

Singapore and China signed agreements on the vision and implementation of the CCI, setting out long-term aspirations to guide the initiative into its next decade.

In its next phase, the CCI will advance cooperation in newer areas such as education, technology and healthcare, while deepening collaboration across its four priority areas – financial services, aviation, transport and logistics, and information and communications technology – as well as the CCI-New International Land-Sea Trade Corridor (CCI-ILSTC).

This includes strengthening the development of Chongqing and Singapore as key aviation hubs, aligning rules on electronic bills of lading, enhancing logistics operations to extend the trade corridor’s reach, and sharing best practices in healthcare.