China invests US$30 billion in Portuguese-speaking countries by the end of 2012

6 November 2013

Total investments by China in the Portuguese-speaking countries reached US$30 billion at the end of 2012, china’s Trade Minister, Gao Hucheng said Tuesday in Macau.

According to the minister, the figure includes direct non-financial investment, which at the end of 2012 totalled US$1.97 billion, as well as indirect investment through Hong Kong, Macau and other regions.

In terms of trade between China and the Portuguese-speaking countries, the minister noted that the target of US$100 billion was exceeded in 2011, two years ahead of scheduled, and in that year totalled US$116.97 billion and in 2012 rose to US$128.79 billion.

“Since Forum Macau was set up in 2003 trade between China and the Portuguese-speaking countries has increased by a factor of 10.7,” noted Minister Gao Hucheng, who added that China had granted 4 billion yuan (US$652 million) in subsidised loans to Asian and African members of Forum Macau over the last decade.

Gao said that the measures included in the plan of action approved at the 3rd Ministerial Conference of Forum Macau had been successfully executed. This included granting subsidised loans, which totalled 2.66 billion yuan (US$433 million), scholarships for study in China and technical and professional training for 2,238 people.

Focusing on the future, the minister of Trade noted the measures implemented by China announced Tuesday by deputy prime minister Wang Yang, which include subsidised loans in the amount of 1.8 billion yuan (US$293 million), professional and technical training for 2,000 people and 1,800 scholarships.

The minister also noted the decision to consider the feasibility of three-way cooperation with member countries of Forum Macau in the areas of education and training, agriculture, environmental protection and renewable energy. (macauhub)