Month: March 2019
Cooperation at the ministry’s Office for International Military Cooperation, said that comp
ared with other branches of the military, the PLA Navy plays a relatively larger role in protecting China’s overseas inter
ests and maintaining security in key sea lanes such as the Gulf of Aden and waters off Somalia.
“The PLA Navy is at the forefront of proving that the Chinese milita
ry is an open, cooperative and competent force for peace,” he said, adding that the PLA Navy has f
requently participated in humanitarian rescue missions, naval escorts, joint exercises and exchanges in past years.
“Through these non-war military operations, the Chinese Navy has also improved its capability and operability in dis
tant waters,” Zhou said. “Many security issues around the world require global efforts, and as its capability impr
oves, the PLA Navy can play a bigger part and contribute more to global maritime security.”
domestically rated “AAA”, the safest level. The sale to individual investors is mainly of project-link
ed special-purpose bonds, a type of local government bond vigorously promoted by the government in re
cent years. The cash flows generated from the underlying projects will be used as the primary repayment sources.
In China, there are two types of local government bonds: general bonds and special purpose bonds. According to the country’s 2019 budget repor
t, which was approved by the top legislature earlier this month, the budgeted deficit for local governments is 930 billion yuan, up 100 billi
on yuan compared with 2018, and this fund gap will be supplemented by general bonds.
In the meantime, 2.15 trillion yuan of special purpose bonds will be issued to support la
rge infrastructure projects, such as shantytown renovation projects and railways, said the ministry.
Letting individual buyers invest in local government bonds is a way to narrow the government’s financin
g gap, said Hu Yijian, a tax professor at Shanghai University of Finance and Economics. The gap is expected to expand, as policym
akers decided to cut about 2 trillion yuan in taxes and fees this year while at the same time increase spending on investment.
such an attitude. Any nation with very strong and rapid growth is always in a very difficu
lt position in public opinion because we are afraid about the strength of others,” he said.
“For example, we were afraid of cultural pressure from the United States in the 1960s, and 20 ye
ars later, we had the same feelings against Japan with its technological projects. Now, China is bac
k around the table of big nations. I think we have to accept that and not be afraid, but to discuss.”
Raffarin said the two countries are expected to close contracts and announce new projects. He also
said the dialogue between France and China could be very useful in forming a new vision for multilateralism in a changing world.
In addition to strong existing collaboration between France and China, including in the automotive, aviation and healthcare sectors, Raffarin said the most
important thing for the future of Sino-French relations is to identify third-country projects, such as the Hinkley Point C nu
clear power plant in the United Kingdom, which is jointly financed by China and France, as well as opportunities in Africa.