China encourages Caribbean investments
10 September 2007
China plans to provide US$530 million in low-interest loans to Chinese companies over the span of three years to invest in Caribbean countries, state media reported. At the ongoing second China-Caribbean trade and economic cooperation forum held in Fujian province, Vice Premier Wu Yi said China will also help train 2,000 government officials and professionals in the Caribbean in the agricultural and fishery industries. The investments will help Chinese firms gain footing in the area, where Shenzhen-based electronics company Huawei has done over US$100 million in business since 1999. The volume of bilateral imports and exports between China and Caribbean countries has increased at an annual average rate of 32.7% over the last five years.
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