ILSTC Financial Services Consortium launched in China's Chongqing

This photo taken on April 20, 2023 shows an exterior view of the venue for the fifth China-Singapore (Chongqing) Connectivity Initiative Financial Summit in southwest China's Chongqing. (Xinhua/Chu Jiayin)

CHONGQING, April 22 (Xinhua) -- The New International Land-Sea Trade Corridor (ILSTC) Financial Services Consortium was launched at the fifth China-Singapore (Chongqing) Connectivity Initiative Financial Summit in China's Chongqing municipality on Friday.

The consortium, co-founded by 56 domestic and overseas financial institutions, will focus on facilitating investment and financing cooperation on cross-border trade among countries and regions along the ILSTC.

The consortium will help facilitate the sharing of financial credit and demand information, strengthen cooperation among enterprises and provide more localized financial services.

Launched in 2017, the ILSTC is a trade and logistics passage jointly built by provincial-level regions in western China and ASEAN member nations.

So far, the consortium covers over 3,000 domestic service outlets in provincial-level regions such as Chongqing, Sichuan and Guangxi, as well as over 1,000 overseas outlets in countries and regions along the ILSTC.