Finance

Singapore-Chongqing tie-ups: Banking on rising demand for services

DBS Bank's branch in Chongqing. The bank says the city is key to western China's development and expects business activity and the demand for cross-border financing there to increase.
DBS Bank's branch in Chongqing. The bank says the city is key to western China's development and expects business activity and the demand for cross-border financing there to increase.PHOTO: DBS

Singapore banks that have set up branches in Chongqing have seen rising demand for their services and they expect activity to increase.

The city has certainly proved a lucrative field of endeavour with 75 projects worth US$15 billion (S$20.4 billion) completed under the Chongqing Connectivity Initiative (CCI) from 2016 to last year.

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A version of this article appeared in the print edition of The Straits Times on April 08, 2019, with the headline 'Banking on rising demand for services'. Print Edition | Subscribe