Source:Big Middle Small

CHONGQING, Jan. 10 (Chongqing Daily) -- According to the Chongqing Banking Regulatory Bureau, by the end of the third quarter of 2016,

Reporters on January 10 from the Chongqing Banking Regulatory Bureau was informed that the end of the third quarter of 2016, the financing of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity (“China-Singapore Demonstration Initiative” for short), supported by the Chongqing sector, is over 7.8 billion Chinese yuan.

Since 2016, the city's financial institutions of the banking sector actively make innovative financial products, and provide the all-round financial support for the China-Singapore Demonstration Initiative through cross-border financing, cross-border investment, cross-border financial settlement services. The head office of five banks including China Construction Bank, Bank of Communications and China Citic Bank and other banks also set up regional or national functional headquarters in Chongqing to handle cross-border settlement, offshore, factoring business and other businesses.

By the end of the first three quarters of last year, with the support of Chongqing banking sector, China-Singapore Demonstration Initiative has raised 7.81 billion yuan, which increases 139.7% compared to that of the beginning of 2016. And by the end of October, 2016, the Chongqing sector has totally completed 27 cross-border loan projects, eight outbound bond projects and three financing leasing projects and one cross-border syndicated loan project. The accumulative financing reaches 3.22 billion dollars (about 21 billion yuan). With the support of banking industry, Lifan Group, Fuling State Owned Asset Management Co. and Yingli International and many other enterprises successfully get financing in Singapore.

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