Developing intelligent connected transportation to boost corridor economy | Insights

Introducing financial support policies to expand the ILSTC

At this year's China's Two Sessions, the Chongqing delegation submitted the suggestion for jointly building the ILSTC at a higher level.

The delegation proposed to strengthen the coordination mechanism at the national level, support the construction of major infrastructure projects, and introduce active fiscal and financial support policies on ILSTC.

Specifically, eliminating corridor bottlenecks and constructing major infrastructure projects are important, which involve building a series of railways and airports, such as constructing Chongqing's new airport for a cargo air corridor.

Besides, the delegation suggested introducing active fiscal, tax, and financial support policies to ensure the quality and expansion of ILSTC. This includes the issuance of special bonds for ILSTC projects without local debt quota and the establishment of special financial funds and national budget funds for the ILSTC.

Chongqing can also restructure and set up an international commercial bank for ILSTC and pilot some policies, such as tax rebates at the land port of departure.