162 projects inked under China-Singapore connectivity initiative by 2021

CHONGQING, Jan. 18 (Xinhua) -- A total of 162 business cooperation projects worth 25 billion U.S. dollars had been inked under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity by the end of 2021.

The information was revealed in the government work report delivered Monday at the fifth session of the 5th People's Congress of the Chongqing Municipality.

Launched in 2015, the initiative mainly targets sectors including financial services, air transportation, logistics and information communication.

It is the third intergovernmental cooperation project between China and Singapore, following the Suzhou Industrial Park in east China's Jiangsu Province and the Tianjin Eco-city in north China's Tianjin Municipality.

The New International Land-Sea Trade Corridor, a trade and logistics passage jointly built by Singapore and provincial-level regions of western China, has also enhanced connectivity between China and other members of the Association of Southeast Asian Nations (ASEAN).

Chongqing saw 2,036 freight train trips via the land-sea trade corridor in 2021, up 53 percent year on year. It has expanded its reach to 315 ports in 107 countries and regions worldwide.