Chinese firms raise 6 bln USD through China-Singapore program

Source: Xinhua | 2018-03-13

Chinese firms have raised more than 6 billion U.S. dollars in 64 cross-border financing deals through a China-Singapore inter-government program over the past two years.

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 cost for businesses in western regions of China.

The southwest municipality of Chongqing became the operation center of 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.