Recently, ABC Singapore Branch sent a team of delegates to visit some of the core businesses in Chongqing, China, to explore trade finance, foreign exchange, bond issuance and distribution opportunities within the Chongqing Connectivity Initiative (CCI) under the recommendation of our Chongqing Branch.

The management of the People’s Republic Bank of China, Chongqing Branch, issued a guidance on 6 March 2016 which allows Chongqing’s local companies and individuals to initiate cross border Renminbi transactions between the two countries. It also allows companies to not only issue Renminbi bonds in Singapore but permits all the funds raised to be brought back onshore. The funds raised through this initiative is not limited to uses only in Chongqing but also to developing the economy and infrastructure in the entire western part of China.  

Through the meetings and talks with the local companies, we are able to understand more in depth about the actual requirements of our customers. We aspire to continue our pursuit in promoting more business dealings in investment, funding and trade between the two great countries.