SINGAPORE: Singapore is working with Chongqing to set up a single electronic window to connect the south-western Chinese city’s economy with Singapore through data and information sharing, said Minister in the Prime Minister’s Office Chan Chun Sing on Thursday (April 12).
Such a platform will make for easier and more efficient customs clearance, which will eventually enable a more seamless flow of goods between China’s western regions and South-east Asia.
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This will form a logistics chain connecting South-east Asia through Singapore to Chongqing and western China, said Mr Chan in a speech at a seminar in Chongqing organised by Singapore Business Federation for a business delegation from Singapore and Chongqing firms.
Launched in November 2015, the CCI is aimed at driving growth of the less-developed western region in China through better transport, financing and data connectivity.
Mr Chan said that in the two to three years since its inception, the initiative has successfully lowered financing costs for businesses in Chongqing, by an average of 0.7 per cent.
