CHONGQING, Feb. 6 (Xinhua) -- A local company in southwest China's Chongqing Municipality has issued a bond in Singapore dollars under a China-Singapore inter-government program.
The 150 million Singapore dollar (over 111 million U.S. dollars) bond, with a contract rate of 4.35 percent, was issued by Chongqing Banan Economic Zone Construction Co. Ltd. and launched at the Singapore Exchange.
The bond was issued under the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity.
Launched in November 2015, the initiative aims to pilot cooperation in fields, including financial services, aviation, logistics and information technology. It is the third intergovernmental cooperation project between the two countries.
So far, a total of 11 cross-border bonds have been issued by Chongqing through the initiative, with a total worth of 2.61 billion U.S. dollars.
