Guoyuan Port in Liangjiang New Area. [Photo/liangjiang.gov.cn]

For the past eight years, Liangjiang New Area in Southwest Chongqing municipality has been strengthening its collaboration with Singapore in various sectors, such as finance, transportation, logistics, information technologies, and aerospace and aviation, as part of the China-Singapore Connectivity Initiative.

Significant progress was made during the process. As of May of this year, the new area has successfully secured 45 projects under the initiative's framework, with a total contract value of $10.98 billion, accounting for 43 percent of Chongqing's overall total.

Thanks to this initiative, Liangjiang's real economy has received a significant amount of foreign investment, and numerous local enterprises have been able to secure cross-border loans.

The Sino-Singapore (Chongqing) multimodal logistics base, a significant achievement resulting from the collaboration between China and Singapore, is located in Guoyuan Port. It aims to introduce cutting-edge logistic technologies and management expertise from Singapore and to establish a proficient, smart, eco-friendly, and global transportation hub and logistics trade distribution center.

It is important to note that the Guoyuan Port's Western Land-Sea Corridor freight train has been operating regularly. In the first quarter of this year, it launched 293 trips, which is a 7.9 percent increase compared to the previous year.

In addition, Liangjiang is expanding its partnership with Singapore in various sectors, including education, healthcare, and the digital economy. The National University of Singapore's Chongqing Research Institute has established four R&D centers focusing on advanced manufacturing and materials, smart sensing and AI, modern logistics, and financial risk management.