Joint China-Tanzania military exercise enters phase of live-fire drill

The "Peace and Unity – 2024" joint military exercise between China and Tanzania entered the phase of live-fire drill with an opening ceremony held at the Mapinga training center in Dar es Salaam on Monday.

The opening ceremony began at 9:00 with soldiers from both countries standing in formations and national anthems of China and Tanzania being played.

Speaking at the opening ceremony, Jenerali Jacob John Mkunda, commander of the Tanzania People's Defense Force, and the commander of the participating Chinese troops said that military relations are an important part of the bilateral relations between the two countries. Taking opportunity of the 60th anniversary of the establishment of diplomatic relations between the two countries, the two sides will carry forward friendship and resolutely deliver on the important common understandings between the two heads of state, and conduct the friendly exchanges between the two militaries, so as to promote the bilateral ties and contribute to regional peace and stability.

"With high morale, high-quality military performance and coordinated joint operations, we will work shoulder by shoulder with Tanzanian military. We will fully demonstrate Chinese military's resolution and capability in safeguarding regional stability and peace," said Gao Jian, officer of the participating Chinese troops.

At the opening ceremony, Chinese soldiers showed their Tanzanian counterparts major military equipment to be used in the joint exercise.

Over one thousand soldiers from both sides will participate in the following joint exercise with various types of weapons and equipment to be used.

In the next step, in-depth exchanges will be organized on joint counter-terrorism operations.

The two sides will also conduct joint command, joint specialized training and live-fire drill.

Joint China-Tanzania military exercise enters phase of live-fire drill

China will take more steps to further facilitate cross-border financial services in Shanghai by leveraging the municipality's role as an international financial center, according to a plan jointly issued by the central bank, the Shanghai municipal government and other financial authorities.

The plan outlines 18 key measures including improving cross-border settlement efficiency, strengthening the hedging of foreign exchange risks, and enhancing the insurance sector's services for export companies.

China will further optimize the management and operation of foreign exchange business, and encourage corporate groups to establish fund pools in Shanghai to achieve efficient onshore management and use of global funds.

The country will also support financial institutions to enhance their capacity to provide digital services and improve services for enterprises to expand abroad by leveraging technologies such as blockchain.

Efforts will be made to enhance the functionality and global coverage of the Cross-Border Interbank Payment System and encourage more banks to participate in the system, according to the plan.

The plan underscores the need to develop diversified products and services to hedge against foreign exchange risks, and to promote cross-border use of the Chinese currency renminbi.

According to the plan, China will increase insurance support for key export enterprises such as domestic commercial aircraft and new energy vehicle companies. The plan also encourages collaboration between insurance companies and reinsurance firms to establish insurance consortiums, thereby enhancing their capacity to cover special risks.

China to further facilitate cross-border financial services in Shanghai