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International trade

CCI-ILSTC Trade and Financial Conference: Deepening Regional Integration and Sustainability

Strategic Insights

— 1 min read

As the 10th anniversary of the China-Singapore (Chongqing) Connectivity Initiative (CCI) is marked, the CCI-ILSTC Trade and Financial Conference kicks off a series of events commemorating the milestone, showcasing the growing interest in the CCI-New International Land-Sea Trade Corridor. The conference highlights the corridor's efficiency and viability, with container volumes growing nearly tenfold since 2019. The CCI-ILSTC represents a deeper transformation, responding to global trade trends such as supply chain reconfiguration, digital technologies, and sustainability.

Key Takeaways:

  • The CCI-ILSTC has proven itself as an efficient and viable trade route linking Western China, Southeast Asia, and beyond, with container volumes growing nearly tenfold since 2019.
  • The corridor facilitates the flow of a wide range of goods, including automotive components, electronics, and chemical products between Western China and Southeast Asia through Singapore.
  • The CCI-ILSTC represents a deeper transformation by reflecting how the region is responding to forces reshaping global trade, including supply chain reconfiguration, digital technologies, and sustainability.
  • The corridor has seen the successful piloting of electronic Bills of Lading (eBLs), demonstrating greater efficiency and security for stakeholders across supply chains.
  • Improved supply chain visibility reduces the risk of fraud, thereby improving access to trade financing from financial institutions.
  • The CCI-ILSTC has also catalyzed new trade flows through greater access to cross-border digital financing, with Singapore-based company Proxtera building a digital ecosystem linking micro, small, medium enterprises to a network of marketplaces and financial services.
  • Qinzhou Port, a key node in the CCI-ILSTC, has made meaningful progress on sustainability, with investments in solar and wind energy production reducing the carbon footprint of the corridor.
  • Financial institutions and corporates are stepping up to support companies on their sustainability journey, empowering Chongqing corporates and stakeholders along the supply chain to explore decarbonisation initiatives and develop innovative green financial products.
  • Today's conference is an excellent platform for businesses, transport and logistics players, innovative solution providers, and financial institutions to explore collaborations, leveraging the CCI-ILSTC's connectivity and financial linkages.

Statistics:

  • Container volumes along the CCI-ILSTC have grown nearly tenfold since 2019.
  • Bilateral trade between ASEAN and China amounts to almost USD700 billion in 2023, more than double the volume in 2012.
  • ASEAN and China are each other's top trading partners.

Sources:

  • Ministry of Trade and Industry, Government of Singapore [Category: Events]

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