Build­ing bridges and rid­ing the waves

Here is the full text of the keynote ad­dress de­liv­ered on Tues­day by Premier Li Ke­qiang at the open­ing cer­e­mony of the FifthMin­is­te­rial Con­fer­ence of the Fo­rum for Eco­nomic and Trade Co­op­er­a­tion Be­tween China and Por­tuguese-speak­ing Coun­tries in­Ma­cao

China Daily (USA) - - SPEECH -

Dis­tin­guished Guests, Ladies and Gen­tle­men,

It gives me great plea­sure to meet you in the beau­ti­ful city of Ma­cao and at­tend the open­ing cer­e­mony of the Fifth Min­is­te­rial Con­fer­ence of the Fo­rum­for Eco­nomic and­Trade Co­op­er­a­tion Be­tween China and Por­tuguese-speak­ing Coun­tries. On be­half of the Chi­nese gov­ern­ment, let me ex­tend warm con­grat­u­la­tions on the open­ing of the con­fer­ence and sin­cerely wel­come all guests com­ing from afar. I would also like to pay high trib­ute to all those who have long been com­mit­ted to friend­ship and co­op­er­a­tion be­tween China and Por­tuguese-speak­ing coun­tries.

As is known to vis­i­tors of this city, bridges are the back­bone for Ma­cao. They are vi­tal to eco­nomic devel­op­ment as well as peo­ple’s work and life. Ma­cao used to be the proud home of Asia’s long­est bridge, the Ponte de Amizade (Bridge of Friend­ship) which was com­pleted in 1994. Now, to­gether with Hong Kong and Zhuhai, Ma­cao has just set a newrecord of the long­est cross-sea bridge in the world. The bridge link­ing the three cities ex­tends over an un­prece­dented 55 kilo­me­ters.

I must add that there is an even longer “cross-ocean bridge” in Ma­cao, i.e. the Fo­rum­for Eco­nomic and­Trade Co­op­er­a­tion Be­tween China and Por­tuguese-speak­ing Coun­tries. It is cer­tainly there, though in­vis­i­ble. With lan­guage and cul­ture as the bond, busi­ness co­op­er­a­tion as the theme, and com­mon devel­op­ment as the ob­jec­tive, this fo­rum has sought to fully lever­age the unique strengths of Ma­cao and played an im­por­tant role in fur­ther strength­en­ing the links be­tween China and the seven Por­tuguese-speak­ing coun­tries. I am sure it will con­tinue to do so in the fu­ture.

Last year, the trade vol­ume be­tween China and Por­tuguese-speak­ing coun­tries reached nearly $100 bil­lion. China has be­come a lead­ing trade part­ner and the fastest grow­ing main ex­port mar­ket for Por­tuguese-speak­ing coun­tries. China is home to nearly 1,000 com­pa­nies set up by Por­tuguesec­oun­tries, and has in­vested close to $50 bil­lion and con­tracted projects worth over $90 bil­lion in th­ese coun­tries. The two sides have also con­ducted fruit­ful co­op­er­a­tion in agri­cul­ture, en­vi­ron­men­tal pro­tec­tion, trans­port, telecom­mu­ni­ca­tions and fi­nance.

Fa­cil­i­tated by the fo­rum, China andPor­tuguese-speak­ing coun­tries have in­ten­si­fied ex­changes at var­i­ous lev­els. Po­lit­i­cal mu­tual trust and high-level ex­changes have in­creased. Sub­na­tional co­op­er­a­tion has kept a strong mo­men­tum. The num­ber of Chi­nese tourists visit­ing Por­tuguese-speak­ing coun­tries is grow­ing fast. The two sides have also en­hanced ed­u­ca­tional and cul­tural con­tacts. The Por­tuguese and Chi­nese lan­guages have be­come in­creas­ingly pop­u­lar in each other’s coun­try. Por­tuguese is now taught in over 20 Chi­nese uni­ver­si­ties. And 17 Con­fu­cius in­sti­tutes have been set up in Por­tuguese-speak­ing coun­tries. Well­known artis­tic works, such as samba, fado, But­ter­fly Lovers and Jas­mine Flower have helped deepen mu­tual un­der­stand­ing and friend­ship among our peo­ples.

The world we live in has been go­ing through pro­found changes both po­lit­i­cally and eco­nom­i­cally. World eco­nomic re­cov­ery re­mains slug­gish, marked by deep ad­just­ment in com­mod­ity prices, lack­lus­ter trade and in­vest­ment and ris­ing pro­tec­tion­ism in var­i­ous forms. All th­ese have posed se­vere chal­lenges to the devel­op­ment of all coun­tries.

The G20Hangzhou Sum­mit held suc­cess­fully in Septem­ber reached broad con­sen­sus on is­sues cen­ter­ing around the theme of the sum­mit: “To­wards an In­no­va­tive, In­vig­o­rated, In­ter­con­nected and In­clu­sive World Econ­omy”. The sum­mit called for build­ing an open world econ­omy, re­ject­ing pro­tec­tion­ism in all forms, re­viv­ing the en­gines of in­ter­na­tional trade and in­vest­ment, and mak­ing sure that eco­nomic growth in a glob­al­ized world de­liver op­por­tu­ni­ties to more peo­ple.

To­gether, China and Por­tuguese-speak­ing coun­tries ac­count for 17 per­cent of the eco­nomic out­put and 22 per­cent of the pop­u­la­tion of the world. We have re­spec­tive strengths in cap­i­tal, tech­nol­ogy, re­sources and mar­ket and are both lo­cated at main in­ter­na­tional ship­ping lanes. China’s Belt and Road Ini­tia­tive is highly com­pat­i­ble with the devel­op­ment plans of many Por­tuguese-speak­ing coun­tries. In the new era, China and Por­tuguese-speak­ing coun­tries en­joy more shared in­ter­ests and have a greater stake in each other’s suc­cess. China is ready to work with Por­tuguese-speak­ing coun­tries to con­sol­i­date busi­ness re­la­tions and set a good ex­am­ple of friend­ship and co­op­er­a­tion among coun­tries with dif­fer­ent so­cial sys­tems and cul­tural back­grounds and at dif­fer­ent devel­op­ment stages.

We should en­hance po­lit­i­cal mu­tual trust, which pro­vides firm ba­sis for prac­ti­cal co­op­er­a­tion. Our re­la­tion­ship is now bet­ter than ever. In a spirit of mu­tual re­spect, equal­ity and win-win co­op­er­a­tion, China is ready to work with­Por­tuguese-speak­ing coun­tries to fur­ther in­ten­sify high-level ex­changes and mu­tual sup­port on is­sues con­cern­ing each other’s ma­jor in­ter­ests, prop­erly han­dle dif­fer­ences, and fos­ter a sound, sta­ble and for­ward-look­ing part­ner­ship.

We should ad­vance trade and in­vest­ment lib­er­al­iza­tion and fa­cil­i­ta­tion. De­spite some set­backs, eco­nomic glob­al­iza­tion is still an ir­re­versible trend. It can help im­prove the divi­sion of la­bor among coun­tries, in­crease ef­fi­ciency, and ex­pand the mar­ket. It has brought more choices of goods to con­sumers and in­creased the well-be­ing of the peo­ple, thus serv­ing the long-term in­ter­ests of all coun­tries. China is ready to join hands with Por­tuguese-speak­ing coun­tries to ex­pand mu­tual mar­ket open­ness, boost co­op­er­a­tion in cus­toms, in­spec­tion and quar­an­tine, and cer­ti­fi­ca­tion and ac­cred­i­ta­tion, strengthen IPR pro­tec­tion, and fos­ter an en­abling trade and in­vest­ment cli­mate. China does not pur­sue trade sur­pluses with Por­tuguese-speak­ing coun­tries. We will ac­tively im­ple­ment the pol­icy of zero-tar­iff treat­ment to 97 per­cent of tax items of some Por­tuguese-speak­ing coun­tries, in­crease im­ports from your coun­tries, and sup­port e-com­merce be­tween busi­nesses of the two sides, with a view to fur­ther tap­ping the po­ten­tial of trade growth.

We should ex­pand co­op­er­a­tion on pro­duc­tion ca­pac­ity. The coun­tries you rep­re­sent are mostly in an im­por­tant phase of in­dus­tri­al­iza­tion and share an ur­gent need to im­prove in­fra­struc­ture and in­dus­trial sys­tem. China has a full-fledged man­u­fac­tur­ing struc­ture, cost-ef­fec­tive equip­ment­mak­ing ca­pac­ity, a strong con­struc­tion sec­tor and fast-grow­ing out­bound in­vest­ment. Closer co­op­er­a­tion on pro­duc­tion ca­pac­ity pro­vides an ef­fi­cient way to com­ple­ment each other’s strengths and achieve win-win re­sults. I amglad we will be sign­ing an MOU on pro­duc­tion ca­pac­ity co­op­er­a­tion at this fo­rum.

China is ready to lever­age the Silk Road Fund, the co­op­er­a­tion and devel­op­ment fund for China and Por­tuguese-speak­ing coun­tries and other fi­nanc­ing plat­forms to get ma­jor co­op­er­a­tion projects started as soon as pos­si­ble. Co­op­er­a­tion on pro­duc­tion ca­pac­ity can be bi­lat­eral or tri­par­tite. China hopes to en­gage Por­tuguese-speak­ing coun­tries in var­i­ous forms of tri­par­tite co­op­er­a­tion by fol­low­ing mar­ket prin­ci­ples and re­spect­ing each other’s will and aim for tan­gi­ble re­sults and win-win out­comes. China and Por­tu­gal have jointly en­gaged in suc­cess­ful tri­par­tite co­op­er­a­tion in a third Por­tuguese-speak­ing coun­try. Hope­fully, the use­ful ex­pe­ri­ence of such co­op­er­a­tion will be du­pli­cated and lead to new suc­cess sto­ries else­where.

We should strengthen peo­ple-to-peo­ple and cul­tural ex­changes. China hopes to deepen co­op­er­a­tion with Por­tuguese-speak­ing coun­tries in ed­u­ca­tion, science and tech­nol­ogy, cul­ture, health, sports and youth to make th­ese ex­changes a new high­light in our co­op­er­a­tion. China will con­tinue to help Por­tuguese-speak­ing coun­tries in Asia and Africa up­grade ed­u­ca­tional and cul­tural fa­cil­i­ties, ex­pand the cov­er­age of Con­fu­cius In­sti­tutes and set up more China cul­ture cen­ters and other cul­tural ex­change plat­forms in your coun­tries. China is ready to in­ten­sify co­op­er­a­tion on hu­man re­source devel­op­ment through the Academy of South-South Co­op­er­a­tion and Devel­op­ment and the train­ing cen­ter of this fo­rum in Ma­cao. Both China and Por­tuguese-speak­ing coun­tries are rich in tourism re­sources. China is will­ing to ex­tend to more fo­rum mem­bers the status of over­seas des­ti­na­tions for Chi­nese tourist groups and en­hance co­op­er­a­tion with you in project in­vest­ment and tourism pro­mo­tion.

We should boost­Ma­cao’s role in our co­op­er­a­tion. Be­ing bilin­gual, strate­gi­cally lo­catedand­boast­ing ex­cel­lent in­fras­truc­ture­and a pro-busi­ness en­vi­ron­ment, Ma­cao is an im­por­tant bridge link­ing China and Por­tuguese-speak­ing coun­tries. The Chi­nese gov­ern­ment will give Ma­cao ev­ery sup­port in play­ing its role as a fo­cal point in the Belt and Road Ini­tia­tive, and fa­cil­i­tate its ef­forts to set up ser­vice plat­forms for busi­ness co­op­er­a­tion be­tween China and Por­tuguesec­oun­tries as soon as pos­si­ble and build well-func­tion­ing con­ven­tion cen­ter for busi­ness co­op­er­a­tion, ser­vice cen­ter for SMEs and goods dis­tri­bu­tion cen­ter for Por­tuguese-speak­ing coun­tries. All mem­bers of the fo­rum sup­port the idea of an an­nual high-level fo­rum on in­ter­na­tional in­fra­struc­ture in­vest­ment and devel­op­ment and a min­is­te­rial di­a­logue on in­fra­struc­ture in Ma­cao. The build­ing com­plex that will serve as the plat­form for our busi­ness co­op­er­a­tion is un­der­go­ing con­struc­tion. It will of­fer ser­vices to trade, busi­ness talks, show­case of goods, cul­tural ex­hibits and in­for­ma­tion ex­change. Once com­pleted, it will be­come a new land­mark for friend­ship and co­op­er­a­tion and pro­vide high-qual­ity fa­cil­i­ties for co­op­er­a­tion plat­forms be­tween China and Por­tuguese-speak­ing coun­tries. Ladies and Gen­tle­men, China val­ues its friend­ship with Por­tuguesec­oun­tries and is ready to pro­vide help to those in Asia and Africa within China’s ca­pac­ity. Since the launch of the fo­rum, China has signed frame­work agree­ments to of­fer 6.09 bil­lion yuan worth of con­ces­sional loans, re­duced or can­celed 230 mil­lion yuan worth of ma­tured debts, and trained 7,600 pro­fes­sion­als for Asian and African Por­tuguese-speak­ing coun­tries. All eight as­sis­tance mea­sures pledged by China at the last min­is­te­rial meet­ing have been im­ple­mented.

Now let me take this op­por­tu­nity to an­nounce ma­jor high­lights of the 18 new and greater as­sis­tance mea­sures China will im­ple­ment in the next three years, which in­clude the fol­low­ing:

• No less than 2 bil­lion yuan in grant as­sis­tance for Asian and African Por­tuguesec­oun­tries, mainly for agri­cul­ture, trade and in­vest­ment fa­cil­i­ta­tion, preven­tion and treat­ment of malaria, tra­di­tional medicine re­search and other such projects that aim to im­prove peo­ple’s lives.

• No less than 2 bil­lion yuan in con­ces­sional loans for Asian and African Por­tuguese-speak­ing coun­tries, mainly for link­ing up in­dus­tries, co­op­er­a­tion on pro­duc­tion ca­pac­ity and deep­en­ing in­fra­struc­ture co­op­er­a­tion.

• Can­cel­la­tion of 500 yuan mil­lion in ma­tured in­ter­est-free debts for least de­vel­oped Asian and African Por­tuguese-speak­ing coun­tries.

• Con­tin­ued­send­ing of med­i­cal­team­swith 200 per­son­nel to Asian and African Por­tuguese-speak­ing coun­tries, twin­ning of hos­pi­tals among fo­rum mem­bers and ma­ter­nal and child health pro­grams and short-term free clin­i­cal con­sul­ta­tion ser­vices.

• 2,000 train­ing op­por­tu­ni­ties and 2,500 per­son-year Chi­nese gov­ern­ment schol­ar­ships to fo­rum mem­bers.

• En­cour­age­ment of the set­ting-up and up­grad­ing of over­seas busi­ness co­op­er­a­tion zones in fo­rum mem­bers by Chi­nese com­pa­nies.

• Build­ing mar­itime me­te­o­ro­log­i­cal mon­i­tor­ing sta­tions and other fa­cil­i­ties to tackle dis­as­ters and cli­mate change in case of need in fo­rum mem­bers.

• Last but not least, we will sup­port the es­tab­lish­ment of a fi­nan­cial ser­vice plat­form be­tween China and Por­tuguese-speak­ing coun­tries, an as­so­ci­a­tion of busi­ness lead­ers, a cul­tural ex­change cen­ter, a bilin­gual hu­man re­source train­ing base and a youth in­no­va­tion and en­trepreneur­ship cen­ter in Ma­cao and of­fer 30 op­por­tu­ni­ties for in-ser­vice de­gree pro­grams to fo­rum mem­bers to be jointly un­der­taken by the Chi­nese main­land andMa­cao.

Ma­cao Spe­cial Ad­min­is­tra­tive Re­gion will play an im­por­tant role in pro­vid­ing the plat­form and sup­port­ing the im­ple­men­ta­tion of th­ese mea­sures. Ladies and Gen­tle­men, Many of you fol­low trends in the Chi­nese econ­omy closely. Let me give you a brief­ing about lat­est de­vel­op­ments. De­spite the weak re­cov­ery of the world econ­omy in re­cent years and grow­ing im­pact of deepseated im­bal­ances within China, the Chi­nese econ­omy has been op­er­at­ing within a rea­son­able range, achiev­ing steady growth and con­tin­ued progress in re­struc­tur­ing and up­grad­ing at the same time. It re­mains one of the fastest-grow­ing ma­jor economies in the world and con­trib­utes over 25 per­cent to world eco­nomic growth. The 6.7 per­cent growth in the first half of this year is by no means easy, given the size of our 10 tril­lion­dol­lar econ­omy. The in­cre­ment of 6.7 per­cent growth, over $800 bil­lion a year, is in fact big­ger than that gen­er­ated by dou­bledigit growth in the past, amount­ing to the eco­nomic ag­gre­gate of a medium-sized coun­try.

Com­ing to the third quar­ter, the Chi­nese econ­omy is not only con­tin­u­ing with the good mo­men­tum seen in the first half of the year, but also show­ing some pos­i­tive changes with big­ger con­tri­bu­tion by con­sump­tion and ser­vices to the eco­nomic growth and im­prove­ment of ma­jor in­di­ca­tors which were pre­vi­ously weak or de­clin­ing. Growth rate of in­dus­trial out­put, cor­po­rate per­for­mance and in­vest­ment are all look­ing up. Down­turn in pri­vate in­vest­ment, in par­tic­u­lar, has been curbed. Ex­pec­ta­tions have im­proved.

Over­all, the Chi­nese econ­omy this year, es­pe­cially in the third quar­ter, has per­formed bet­ter than what we ex­pected. Em­ploy­ment, in par­tic­u­lar, has re­mained ba­si­cally sta­ble. Each year in the past three years, more than 13 mil­lion new ur­ban jobs were cre­ated. In the first nine months of this year, the num­ber stood at 10.67 mil­lion, main­tain­ing this rate of job cre­ation. In Septem­ber, the sur­veyed ur­ban un­em­ploy­ment rate in 31 big cities fell be­low 5 per­cent, the first time in re­cent years. For China, a big de­vel­op­ing coun­try of more than 1.3 bil­lion peo­ple, em­ploy­ment is of pri­mary im­por­tance. The main pur­pose of growth, af­ter all, is to en­sure job cre­ation and im­prove peo­ple’s well-be­ing.

Hav­ing said all this, we should not lose sight of the down­ward pres­sure the Chi­nese econ­omy still faces. To keep the econ­omy sta­ble, we need to not only main­tain ag­gre­gate de­mand, but also speed up sup­ply-side struc­tural re­form to im­prove the qual­ityand ef­fi­ciency of the sup­ply sys­tem. Now, there is cer­tain talk about risks in China’s debts and the prop­erty mar­ket. Th­ese is­sues should be viewed ob­jec­tively and put into per­spec­tive. The debt risk in China is con­trol­lable over­all. The main prob­lem now is un­bal­anced debt struc­ture. China’s gov­ern­ment debt ra­tio is rel­a­tively low among ma­jor economies with merely 16 per­cent for the cen­tral gov­ern­ment. Though the ra­tio at the lo­cal lev­els is higher, bor­row­ing by lo­cal gov­ern­ments is get­ting bet­ter reg­u­lated, and used mainly for devel­op­ment, rather than wel­fare hand­outs. Most debts are as­set-backed and gen­er­ate re­turns. The prob­lem with lever­age mainly lies in rel­a­tively high lever­age ra­tio in non-fi­nan­cial com­pa­nies. This is closely re­lated to fledg­ling and not ma­ture state of China’s cap­i­tal mar­ket, high propen­sity to save with the sav­ings rate above 50 per­cent, and a fi­nanc­ing struc­ture with banks in a pre­dom­i­nant po­si­tion. China’s debts are mostly in­ter­nal and the share of ex­ter­nal debts is low. Hence the like­li­hood of debt risk is also small. Our mon­e­tary pol­icy is pru­dent, en­sur­ing rea­son­ably suf­fi­cient liq­uid­ity. And the com­mer­cial banks have high cap­i­tal ad­e­quacy ra­tio and pro­vi­sion cov­er­age ra­tio. Their non-per­form­ing as­sets ra­tio, de­spite some in­crease, is far be­low the world’s av­er­age. They have strong abil­ity of risk com­pen­sa­tion and loss ab­sorp­tion. Go­ing for­ward, we will grad­u­ally bring down non-fi­nan­cial cor­po­rate lever­age ra­tio and ad­dress hid­den risks by de­vel­op­ing multi-tiered cap­i­tal mar­kets, rais­ing the share of di­rect fi­nanc­ing and pro­mot­ing cor­po­rate merg­ers and re­struc­tur­ing.

Talk­ing about the prop­erty mar­ket, China’s new type of ur­ban­iza­tion will be a long process. Given the trend of di­ver­gence in the hous­ing mar­ket, we will urge lo­cal gov­ern­ments to shoul­der their re­spon­si­bil­i­ties and adopt city-spe­cific poli­cies to meet peo­ple’s ba­sic hous­ing needs and take ef­fec­tive mea­sures that suit na­tional and lo­cal con­di­tions, en­deavor to pro­vide hous­ing to all in need and en­sure steady and sound devel­op­ment of the real es­tate mar­ket. We are con­fi­dent that we will be able to meet the ma­jor eco­nomic and so­cial devel­op­ment tar­gets this year, fore­stall sys­temic and re­gional fi­nan­cial risks, and lay a solid foun­da­tion for sta­ble devel­op­ment next year.

Over the past fewyears, the Chi­nese econ­omy has with­stood in­ter­nal and ex­ter­nal pres­sures and achieved steady progress and bet­ter qual­ity. This is not done by re­sort­ing to mas­sive stim­u­lus. In­stead, it is be­cause of our com­mit­ment to re­form and open­ing up and our ef­forts to push for in­no­va­tive macro reg­u­la­tion, sup­ply-side struc­tural re­form and faster shift of growth driv­ers. We have been stream­lin­ing ad­min­is­tra­tion, del­e­gat­ing power, strength­en­ing reg­u­la­tion, and im­prov­ing gov­ern­ment ser­vices. We have been vig­or­ously im­ple­ment­ing the in­no­va­tion-driven devel­op­ment strat­egy to boost mass en­trepreneur­ship and in­no­va­tion. Since last year, there have been more than 40,000 new en­ti­ties en­ter­ing the mar­ket ev­ery day, among which 12,000 are new­lyreg­is­tered com­pa­nies. From Jan­uary to Au­gust this year, the num­ber of newly-reg­is­tered com­pa­nies per day reached 15,000. New tech­nolo­gies, new in­dus­tries and new busi­ness mod­els are grow­ing at a faster pace and many tra­di­tional in­dus­tries are com­ing back to life. New growth driv­ers are ris­ing, tra­di­tional growth driv­ers are be­ing up­graded, and the qual­ity of growth is im­prov­ing. All this has shown enor­mous cre­ativ­ity in the mar­ket and the so­ci­ety. Look­ing ahead, with big po­ten­tial, solid ad­van­tages and broad ma­neu­ver­ing room, the Chi­nese econ­omy is well pre­pared to achieve medium-high growth rates and ad­vance to medium-high devel­op­ment lev­els.

China’s tremen­dous devel­op­ment in the past would not have been pos­si­ble with­out open­ing-up. China will re­main firmly com­mit­ted to the win-win strat­egy of openingup, and the door will open wider. China is com­mit­ted to cul­ti­vat­ing new driv­ers of growth and pro­mot­ing trans­for­ma­tion and up­grad­ing of its econ­omy. This is a process of self-im­prove­ment and also an op­por­tu­nity for the world as it rep­re­sents enor­mous in­vest­ment op­por­tu­ni­ties and mar­ket po­ten­tial. It is ex­pected that in the next five years, China’s to­tal im­ports will reach $8 tril­lion, to­tal out­bound in­vest­ment will reach $720 bil­lion and the Chi­nese will make over 600 mil­lion out­bound vis­its. All of th­ese will bring huge busi­ness op­por­tu­ni­ties to com­pa­nies of all coun­tries, in­clud­ing Por­tuguese-speak­ing coun­tries. Ladies and Gen­tle­men, As a Por­tuguese say­ing goes, “True friends are for­ever” ( Os ami­gos ver­dadeiros sao para sem­pre). We Chi­nese also say that as dis­tance tests a horse’s strength, time re­veals a per­son’s heart. Time has shown and will con­tinue to show that China and Por­tuguese-speak­ing coun­tries are good friend­sand­close part­ner­swho­can tru­stand count on each other. Let’s pool our strengths and wis­dom to­gether, ride the waves and steer for­ward the ship of amity and co­op­er­a­tion be­tween China and Por­tuguese-speak­ing coun­tries. Thank you.

WU ZHIYI / CHINA DAILY

Premier Li Ke­qiang (third from left), Prime Min­is­ter Jose Ulisses Cor­reia e Silva of Cape Verde (sec­ond), Prime Min­is­ter Car­los do Rosario of Mozam­bique (first), and Prime Min­is­ter Baciro Dja of Guinea-Bis­sau (fourth) at­tend the open­ing cer­e­mony of the Fifth Min­is­te­rial Con­fer­ence of the Fo­rum for Eco­nomic and Trade Co­op­er­a­tion Be­tween China and Por­tuguese-speak­ing Coun­tries in Ma­cao on Tues­day.

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