西部金融中心：以中新金融合作引领重庆金融高水平开放

Core Insights - The Chongqing financial system has strengthened the China-Singapore financial cooperation mechanism, enhancing financial interactions between Western China and ASEAN countries [1][2] Policy System - A total of 74 financial innovation policies have been jointly issued by China and Singapore, covering areas such as cross-border investment and financing, cross-border settlement, and insurance cooperation [1] - Innovative policies like RMB fund foreign investment and cross-border financing guarantees have achieved breakthroughs in the central and western regions of China [1] - The use of policies such as cross-border direct loans and overseas bond issuance is emphasized to expand financing channels [1] Institutional Framework - Five banking branches from ASEAN countries have been established in Chongqing, accounting for one-third of all foreign bank branches in the city [1] - Over 20 financial institutions from Singapore have been set up in Chongqing, covering various sectors including funds and microloans [1] - The third-party payment platform, Chongqing Yijiehui, has successfully entered the international market, marking the first approval for a financial license in Singapore for a central and western enterprise [1] Cross-Border Channels - New cross-border financing channels have been established, with 38 new bonds issued, ranking among the top three in the country, and cross-border financing exceeding $24 billion [2] - The comprehensive financing cost is 1.03 percentage points lower than domestic rates, facilitating nearly $7 billion in financing for western provinces [2] - The number of QDLP pilot enterprises in Chongqing has increased to four, with a cumulative quota of $730 million [2] Innovation System - The first overseas REITs in Asia and the first non-bank financial institution borrowing and settlement project have been successfully launched [2] - A financial service consortium has been formed by 78 institutions, creating a cross-border financial service network [2] - Innovative products, including US dollar bonds and offshore RMB bonds, have achieved breakthroughs, with a total amount exceeding $3 billion [2] Key Sector Development - Significant progress has been made in financial technology cooperation, with pilot projects approved for financial technology innovation and application [3] - Green finance cooperation has been initiated, resulting in the first green cross-border loan under the China-Singapore framework [3] - A financial cooperation agreement has been reached with financial regulatory bodies in 12 western provinces and Hainan [3] Service Ecosystem - A new regulatory cooperation model has been established with the Monetary Authority of Singapore, enhancing financial collaboration [3] - The China-Singapore Financial Summit has become a key platform for financial industry exchanges and cooperation between China and ASEAN [3]