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CHINA AND PORTUGUESE-SPEAKING AFRICAN COUNTRIES BOOST RELATIONS

CHINA AND PORTUGUESE-SPEAKING AFRICAN COUNTRIES BOOST RELATIONS.China will offer aid and preferential loans worth at least 4 billion yuan (almost US$600 million) to PSCs in Asia and Africa, Li said.

He made the announcement at the opening ceremony of the 5th Ministerial Conference of the Forum for Economic and Trade Cooperation between China and Portuguese-speaking countries in Macao.

At least 2 billion yuan in aid will be given to help develop agriculture, facilitate trade and investment, prevent and control malaria, and conduct research on traditional medicine in these countries.

At least 2 billion yuan in preferential loans will be offered to promote industrial production capacity cooperation and infrastructure development in these countries. In addition, China will cancel 500 million yuan of debt matured from its interest-free loans to the underdeveloped PSCs in Asia and Africa attending the forum.

China also pledged to send more medical teams, offer training programs and government scholarships, and help PSCs from the forum that need to build marine meteorological facilities to respond to disasters and climate change.

China encourages domestic businesses to establish new or upgrade existing economic and trade cooperation zones in PSCs, and it supports the establishment of a China-PSCs financial service platform, an entrepreneurs’ association, cultural exchange center, bilingual talent training base and youth innovation and startup center in Macao, according to the package.

The Forum for Economic and Trade Cooperation between China and PSCs was launched in Macao in 2003 with the participation of seven PSCs, namely Angola, Brazil, Cape Verde, Guinea Bissau, Mozambique, Portugal and Timor-Leste.

source:china.org | 12 October 2016

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