China praises role of Macau and opens 800 million yuan credit line

25 September 2006

Macau, China, 25 Sept – The Chinese member of parliament and secretary-general of the State Council, Hua Jianmen, Sunday praised the “unique role” of Macau as a platform for developing cooperation between China and the Portuguese-speaking countries.

Hua made the statement in a speech Sunday in Macau at the inaugural ceremony of the 2nd Ministerial Conference of the “Forum for Economic and Trade Cooperation between China and the Portuguese-speaking Countries (Macau).”

As the host of the Forum, “the advantages of Macau will be increasingly visible,” said Hua Jianmen.

Hua also said that he expected that in 2009 bilateral trade between China and the Portuguese-speaking countries may total US$50 billion and that bilateral investment would be “at least double” that amount.

He announced that China would open up a credit line of 800 million yuan for infrastructure projects in African and Asian Portuguese-speaking countries provided that the economic feasibility study is approved by Chinese banks.

The multilateral cooperation proposed by China includes, amongst other sectors, finance, tourism, education, culture and new technologies.

Hua said that work to promote investment of Chinese companies in Portuguese-speaking countries would also be carried out. (macauhub)