Key agencies giving support to joint Chongqing project

A joint project by China and Singapore to drive growth in the former country's less developed western region has taken some major steps forward.

The impetus has come from China's main Customs department, which has given the project the green light by unveiling 10 measures that will give it more momentum.

The measures should bolster moves by the Chongqing Connectivity Initiative (CCI) as it is called to improve the area's transport and services links to the region and beyond.

These measures include plans to build Chongqing into a logistics hub, create an open trade platform, optimise regulatory services, develop the business environment and support financial services.

The Customs body - known as the General Administration of Customs of China (GACC) - is keen to help develop a Customs supervision model that is suitable for Chongqing and focused on improving information-based logistics monitoring standards, for instance. It has also backed the development of trade and logistics corridors from Chongqing to South-east Asia.

There is support as well for Chongqing's plans to build an international electronic window for trade by learning from Singapore's experience in this area. The international electronic window is expected to encourage information connectivity on multiple levels and help inland ports better open up.

A spokesman for Singapore's Trade and Industry Ministry said in a statement: "The support from key PRC central agencies like GACC paves the way for more innovative policies and measures, including the development of the Southern Transport Corridor. The corridor will link China's western region to South-east Asia, with Chongqing as the operating centre. This is a shorter route for goods flowing between Chongqing and Singapore, and will reduce logistics cost."

Chongqing is on the upper reaches of the Yangtze River in western China. It is a key node linking China to Europe through a network of roads and rail across Central Asia. It is also connected to South-east Asia through a highway that links to the port city of Qinzhou in southern Guangxi.

The CCI project began in November 2015 and is Singapore and China's third joint development after Suzhou Industrial Park and Tianjin Eco-City.

Join ST's Telegram channel and get the latest breaking news delivered to you.

A version of this article appeared in the print edition of The Straits Times on May 18, 2017, with the headline Key agencies giving support to joint Chongqing project. Subscribe