Singapore Government takes steps to boost finances

Singapore is growing rapidly as an important economy in the global market, all credit goes to its financial and trade sector which have been exceptionally good even when the global markets face turmoil.

Singapore has no plans of stopping its rapid growth in the global market and is taking more initiative to boost this growth to a substantial amount. One of these efforts by the Singaporean economy was showcases on 11th September, 2019, Wednesday, as it launched a dedicated data channel linking the nation with China’s Chongqing city, and a slew of project signings that cement the fast growth of the Chongqing Connectivity Initiative (CCI).Trade and Industry Minister Chan Chun Sing and visiting Chongqing party secretary Chen Min’er were present at the launch event of this platform. This is China’s first point to point data link with some other nation. A partnership between Singtel, StarHub and China’s three major telecom names, the 260Gbps data link is expected to provide users with better network reliability and lower latency. Twelve Chongqing companies including tech giant Tencent and major data centre operator GDS also signed as first customers of the data channel. This move will help the Singaporean firms to digitally expand their business to Chongqing, a south-west city, and western China.

This is expected to lay the foundation for more collaboration between the nations and increase their cooperation between the two nations. Also, further it is expected that this cooperation will be extended to the customs between the two nations. This will benefit the financial and trade sector substantially and also attract investors with good policies and cooperation.