"Our focus in China today is to support China's effort to implement the 2030 Agenda and the 17 Sustainable Development Goals, and to make sure that 'no one is left behind,' as China walks the last mile of poverty alleviation and shift the focus toward high-quality development. Over the 40 years, the UN in China has contributed to China's development through support in areas ranging from humanitarian assistance, health and education to rural development and industrialization. Kevin Gallagher, professor of global development policy at Boston University, said that in the next few years, Chinese overseas belt and road investment would continue its downward trend. AidData tracks Chinese investment and aid. While China was the first country to report the . Wang stressed that China always supports and practices multilateralism and will continue to firmly uphold the international system with the UN at its core. Along with China's remarkable development progress, the role of the UN has shifted from traditional that of a donor providing assistance for basic needs to a partner providing advanced policy support and sharing international experience. All UN entities in China work in partnership with governmental and non-governmental organizations at various levels to support the government to implement its national development objectives and Internationally Agreed Development Goals, including the Sustainable Development Goals. In Kenya, Exim Bank has already demanded a commercial viability study to be conducted before releasing money to fund the construction of a belt and road-rail line to link Naivasha, a town in the Central Rift Valley, to Malaba, on the border with Uganda. He explained that Chinese banks made loans to be repaid with interest, “so when they review incoming loan applications, they pay close attention to the revenue generation capacity of their would-be borrowers”. It is mandatory to procure user consent prior to running these cookies on your website. The lenders cut funding to energy projects to the lowest level in more than a decade last year. China's Foreign Minister Wang Yi attends a summit between China and ASEAN (Association of Southeast Asian Nations) on COVID-19 in Vientiane on Feb 20, 2020. /Photo by UN China. Chinese Foreign Minister Wang Yi says China is resolutely against the politicisation of the pandemic. Special Envoy on G20 Affairs, Ministry of Foreign Affairs . Wang said that in the past year, 29 government-to-government cooperation agreements were signed, bringing the total number of such deals to 200. Noting that he is the first foreign minister to visit Myanmar after the Southeast Asian country's general elections, Wang said his visit shows China attaches great importance to … Projects are hit from both ends as Chinese Banks strictly scrutinise potential lenders and African Nations are squeezed by Covid-19 & Economic Constraints. China & Brunei to Enhance China-ASEAN Relations, New Opportunity for Kyrgyzstan to Upgrade Relations with China, RAW Responsible for Splitting Nepal Communist Party: Prachanda, China & Indonesia’s Emerging as Global Influence, Pakistan to enhance Cooperation with China under CPEC: PM Khan, China’s Overseas Investments stringent Environmental Controls, Enhancing Trade Cooperation on Belt & Road in 2021. Analysts said that since most belt and road projects involved bricks-and-mortar activities and large numbers of construction workers, there might be a major slowdown in their implementation. More than anything, the story of the UN's journey in China is one of change. Last week, Beijing revealed that about a fifth of the Belt & Road Projects had been “seriously affected” by the Pandemic. The Tanzanian Government has awarded a $1.32bn contract to two Chinese companies for the construction of a 341km rail line. “Chinese banks will probably try to limit the number of new loans that they issue and focus on minimising the number of non-performing loans in their existing portfolios,” Parks said. Davies said that in light of the challenging economic situation in many African countries, “there will be a divergence in returns for China’s policy banks – more downside financially but more upside politically”. Foreign minister Wang Yi, in a video call on Monday (Dec 7) with the board members of the US-China Business Council (USBC), said that the “most … © 2021 Belt and Road News. He attributed this to domestic factors in China regarding the health of its economy, and because of weakened “demand” because of the global economic slowdown and increasing debt burdens. It is a story about the remarkable transformation that has taken place in the country over the past 40 years and how the UN in China has evolved with it," Nicholas Rosellini, the UN resident coordinator in China, said in his welcome speech. Around 800 people from government agencies, the diplomatic corps, international organizations and the private sector attended the event. During the second day of the G20 Leaders Summit in Antalya Turkey HE Mr Wang Xiaolong, the Chinese Foreign Ministry’s special envoy for G20 gave a press conference regarding the … Chinese Foreign Minister Wang Yi's trip to Africa this week made it no clearer when Africans can expect to receive a Chinese vaccine -- or on what terms. For instance, as debt became a major concern for the African economy, Chinese policy banks were now more cautious in their lending. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. On UN Day 2019, the UN China office not only commemorated the creation of the United Nations but also took this special occasion to mark the 40th anniversary of the United Nations' presence in China. He said Xi was also facing severe political pressure on two fronts: from poor countries wanting loans cancelled and from his citizens who did not want money sent abroad that could be used to aid recovery at home. Beijing ICP prepared NO.16065310-3, UN 40 Years in China: A continuous journey toward sustainable development. Chinese Foreign Minister Wang Yi visits to Nigeria, the Democratic Republic of the Congo, Tanzania, Botswana and Seychelles carries on a tradition that dates back to January 1991. CTRL + SPACE for auto-complete. But Chinese Foreign Minister Wang Yi was more optimistic, noting that the impact of the disease on Belt & Road Projects was not massive. By early January, 2,951 belt and road-linked projects valued at US$3.87 trillion were planned or under way across the world, according to research and publishing firm Oxford Business Group. It is led by the Foreign Minister, currently State Councilor Wang Yi, who serves as the nation's principal representative abroad. Wang Xiaolong, director general of Department for International Economic Affairs, Ministry of Foreign Affairs, delivered a keynote speech on behalf of the Chinese government at the event. Necessary cookies are absolutely essential for the website to function properly. (Cover: Nicholas Rosellini (L), UN resident coordinator delivers the welcome speech during the celebration of UN Day 2019. Chinese State Councilor and Foreign Minister Wang Yi held talks with his Seychellois counterpart Sylvestre Radegonde on Saturday during Wang's official visit to Seychelles. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. “It is a real test of China’s geopolitical commitment to the continent,” he said. 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Many of the Countries that took billions of dollars in loans from China to build mega projects; including motorways, ports, dams and railways are knocking on Beijing’s door, asking for debt repayment freezes or some debt cancellations. Chinese State Councillor and Foreign Minister Wang Yi has cautioned Chinese companies operating in Nigeria to strictly obey the labour laws of the country as well as local customs. But opting out of some of these cookies may affect your browsing experience. Photo: EPA-EFE. Chinese Foreign Minister Wang Yi gave an interview to Chinese state television Saturday in which he credited the authoritarian rule of the Communist Party with defeating the coronavirus pandemic and celebrated the incoming Biden administration in America as a “new window of hope” for relations between the U.S. and China. Ministry of Foreign Affairs Le Yucheng 乐玉成 (Vice Minister) Executive work of the Ministry, General Office, government transparency, and Hong Kong, Macao and Taiwan-related foreign affairs. ", Wang Xiaolong, director general in the Department for International Economic Affairs, Ministry of Foreign Affairs, delivers a keynote speech on behalf of the Chinese government during the October 24, 2019 event. All rights reserved. You also have the option to opt-out of these cookies. In Nigeria, a US$1.5 billion rail project is facing delays because of coronavirus disruptions, while many Chinese funded projects in Zambia, Zimbabwe, Algeria and Egypt have been put on hold or may be delayed as the countries fight to control the spread of Covid-19. Long Yongtu, former vice minister of the Ministry of Foreign Trade and Economic Cooperation, delivers a speech on UN Day 2019, October 24, 2019. Many countries in Africa and Asia have not been able to continue with mega projects, mostly funded by Beijing, because they are struggling to service debts. /Photo by UN China), Copyright © 2018 CGTN. This website uses cookies to improve your experience. The Bruegel Newsletter. We use cookies to function our website. Long Yongtu, former vice minister of the Ministry of Foreign Trade and Economic Cooperation, who was the first Chinese government official seconded to the UN in the 80s, shared how the UN arrived in China, his work experience in the UN development system and his insights on how the partnership can achieve great success in pursuit of the 2030 Agenda. China's State Councilor and Foreign Minister Wang Yi on Saturday began his official visit to the Philippines. The ministry is headquartered in Chaoyang District, Beijing, the country's primary diplomatic quarter. R-L; President Muhammadu Buhari, State Councillor and Foreign Minister of the People’s Republic of China, H.E Wang Yi, Chinese Vice Minister, Ministry of Commerce, Mr Qian Keming, Assistant Minister Ministry of Foreign Affairs, Deng Li, Deputy director China International Development Cooperation Agency, Zhou Liujum, Charge D’ Affaires China Embassy, Zhao Yong and others during an … About 40 per cent of the projects were adversely affected, and a further 30-40 per cent were “somewhat affected”, according to Wang Xiaolong, Director General of the Foreign Ministry’s International Economic Affairs Department. Civil Aviation Gradually to loosen Travel Policies, The 2020 Cultural Tourism Industry Forum & Exhibition, Hunan & Xinjiang drum-up Winter Tourism in Shanghai, Pandemic Stories shared by Tourism Authorities, China’s Historic Friendship with Central Asia, Coronavirus poses Challenges for both China & Africa, Cooperation in Public Health to spearhead China’s International Efforts, Ancient Persian Carpets bring Silk Road to Life, Leica Oskar Barnack Award 40th Anniversary, ‘Romance De Amor’ Strikes a Classical Chord, Belt & Road Initiative: Impacts on Forests and Communities, 10th International Exhibition of Traditional Fine Arts in Jiading. China's foreign minister says Beijing is open to restarting its relationship with the US, declaring the two countries are at a "critical historical juncture" after a year of escalating tensions. Chinese Foreign Minister Wang Yi speaks during a joint press conference at the Ministry of Foreign Affairs in Beijing, Thursday, June 29, 2017. Pakistan Prime Minister Imran Khan said that the corridor is a manifestation of Pakistan-China friendship and the government will complete it at any cost and bring its fruit to every Pakistani. Get … At the commemorative event, an interactive digital exhibition was displayed, highlighting key milestones at UN China over the past 40 years. Previously, he was the Minister and Deputy Secretary of the CPC Committee at the Ministry of Foreign Affairs (MFA) (2013-2018), Director of the Taiwan Work Office of the CPC Central Committee and Minister of the Taiwan Affairs Office of the State Council (2008-2013), Secretary of the CPC Committee and Vice Minister at the MFA (2007-2008), and Ambassador to Japan (2004-2007), … “Facing a crunching post-pandemic slowdown, China has far less money to splash out on expensive infrastructure in Africa and elsewhere,” Crabtree said. October 24 has been celebrated as United Nations Day since 1948. Many projects under the Belt & Road Initiative, Chinese President Xi Jinping’s signature project to boost trade and investment across Asia, Africa and Europe are either on hold or receiving minimal works. Trade in goods between China and Belt & Road Countries reached US$1.3 trillion, up 6 per cent year on year, and Chinese Investment in Belt & Road Countries increased US$15 billion last year, the Chinese Foreign Minister said via a video link in a meeting that attracted representatives from more than 25 Countries. Xie Hangsheng 谢杭生 We'll assume you're ok with this, but you can opt-out if you wish. Even before the pandemic, China’s policy banks were already reducing new belt and road loans. Parks said there would be a slowdown in new lending and a stronger emphasis on the performance of loans that had already been issued by Chinese banks. Current Affairs Correspondent East Asia - Belt & Road News is prone to be the dedicated News, Views & Analyst on Belt & Road Initiative and information organisation, to be recognised globally for its authority, integrity, and accuracy. They would want to see the commercial viability of projects and financial sustainability before releasing the money. /Photo by UN China. Write CSS OR LESS and hit save. "Today, we are celebrating 40 years of UN presence in China. We also use third-party cookies that help us analyze and understand how you use this website. China’s overall lending to Africa stood at US$152 billion worth of loan commitments between 2000 and 2018, according to data compiled by the China Africa Research Initiative at the Johns Hopkins University School of Advanced International Studies. By pressing “OK” you accept our Cookie Policy. What’s Biden Eurasian Policy after Central Asian Elections? This marked a 71 per cent drop from the US$11 billion advanced in 2018 and came amid growing criticism that China was burdening poorer countries with unsustainable debts. “I think we’re going to see a significant slowdown in the implementation of [belt and road] projects,” he said. This category only includes cookies that ensures basic functionalities and security features of the website. He is joined on stage by the UN country team in China, October 24, 2019. Wang Chao王超 (Vice Minister) Responsible for Europe, translation and interpretation, and archives, and Party-related affairs. Wang said that despite the Coronavirus crisis, trade between China and Belt & Road Countries had risen 3.2 percent and direct investment by China was up 11.7 percent in the first quarter of this year. OK. Load more posts. The first UN office was opened in 1979. This also reciprocates Foreign Secretary Teodoro Locsin’s official trip to China in October 2020, DFA said. 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