Over the past two years, Chinese firms have raised more than $6 billion in 64 cross-border financing deals through a China-Singapore intergovernmental program.
The deals involve overseas bond issuing, commercial loans and finance leasing, according to the program’s administration bureau.
It is believed that the program has effectively reduced financing costs for businesses in western regions of China.
The southwest municipality of Chongqing became the center of operations for the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity in 2016.
The initiative aims to pilot cooperation in fields, including financial services, aviation, logistics and information technology.
It is the third such deal between