SGX-backed trading platform CIC launches Digital Silk Road initiative

CIC will tap onto $56.3b-worth of cooperation agreements bewteen 300 SMEs.

Singapore Exchange (SGX)-backed commodities trading platform Commodities Intelligence Centre (CIC) is launching a Digital Silk Road initiative.

Under this initiative, CIC plans to bring Singapore’s small and medium-sized enterprises (SMEs) closer to the Digital Silk Road through Zallgo, China’s largest online and offline integrated wholesale trading platform.

The move sees CIC tap onto $56.3b (US$42.2b) worth of cooperation agreements from over 300 SMEs during the 2020 Global Digital Trade Conference held in Wuhan last month.

The digital trading platform also officially launched during the conference.

CIC is supported by Enterprise Singapore and established as a joint venture between Chinese B2B platform ZALL, electronic product and services provider Global eTrade Services, and SGX