Singapore does not require external financing to develop its public infrastructure, but is still looking for taking part in the BRI.
BRI and the China-Singapore Free Trade Agreement
China and Singapore upgraded their Free trade Agreement. This FTA now mentions the Belt and Road Initiative.
Both countries also agreed to further develop the International Land Sea Trade Corridor (ILSTC) or Chongqing Connectivity Initiative.
A new free trade zone for the OBOR in Chongqing
In late March 2017, the China State Council approved the establishment of seven new free trade zones to be established in Liaoning, Zhejiang, Henan, Hubei, Sichuan, Shaanxi and in the municipality of Chongqing. After testing a first free trade zone