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Foreign diplomats to China visit Qinghai

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China

Foreign diplomats to China visit Qinghai

2024-10-13 16:07 Last Updated At:16:37

Diplomats from some 20 countries to China paid a visit to northwest China's Qinghai Province from October 9 to 12 to learn about green energy development and ecological protection there.

In Gonghe County of Qinghai's Hainan Tibetan Autonomous Prefecture, foreign envoys saw a solar park with the largest installed capacity in the world built in a once barren land raged with sandstorms.

"This is a great achievement for the people of China, people of Qinghai, to amplify solar energy to this stage. (This achievement) is very much in line with sustainable goals of the United Nations. It can serve as a good practice for many nations that are aspiring to use clean energy in (the) new era," said Ambassador of Armenia Vahe Gevorgyan.

"(China's) modern development is not development on its own. It is development with taking care of the environment and also the species. This is one thing I think every country should look at," said Majintha Jayesinghe, Sri Lankan ambassador to China.

On the shores of Qinghai Lake, the largest lake in China, the envoys learned about the province's birds and fish protection efforts. They also learned about China's policy measures and achievements in ecological protection at the Przewalski's gazelle conservation base by the lake.

"What I've seen today, I think, gives us a great lesson about ecological, environmental protection. Qinghai is more concentrated in protection - ecological protection and environmental protection, providing the best for the people here, as well the entire China," said Isabel Domingos, Sao Tome and Principe's ambassador to China.

A strategic pivot for Belt and Road development, Qinghai has been actively engaging in cooperation and exchanges with Belt and Road participating countries regarding green development and environmental conservation.

"I think this is one of the ways China is genuine about assisting developing countries like Grenada, where I am from, and using the technologies, using the strategies and the policies that they have used to get villages like this one out of poverty and into self-sufficiency, inclusive of clean energy and renewable forms of energy," said Grenadian Ambassador Ian Marshall.

Foreign diplomats to China visit Qinghai

Foreign diplomats to China visit Qinghai

Substantial fiscal stimulus measures unveiled by China's Ministry of Finance on Saturday will effectively assist local governments in dissolving the debt risks they are confronting, said a Chinese economist.

China will introduce a package of targeted incremental fiscal policy measures in the near future to boost the economy, Minister of Finance Lan Fo'an told a press conference on Saturday.

The package includes increasing the debt ceiling on a relatively large scale in a lump sum to replace the "hidden" debts of local governments and help defuse their debt risks.

The special purpose bonds in the package that aim to tackle this issue total some 2.3 trillion yuan (about 325.17 billion U.S. dollars), available for use from October to December this year.

"Local governments encounter many constraints due to their restricted fiscal capacity caused by hidden debts. The central government's decision to increase the quota of special-purpose bonds for local authorities helps enhance the transparency and regulation of their hidden debts. Moreover, this would result in lower financing costs for local governments, alleviating their burdens and enabling them to focus on promoting production and ensuring the well-being of the people," said Qiao Baoyun, dean of the China Academy of Public Finance and Public Policy at Central University of Finance and Economics.

The central finance has arranged a local government debt limit of over 2.2 trillion yuan (310 billion U.S. dollars) in 2023, and an additional 1.2 trillion yuan (170 billion U.S. dollars) in 2024 to support localities, especially high-risk areas, in resolving existing debt risks and clearing arrears owed to enterprises, Lan said the press conference.

"This time, the stimulus is substantial. It's not just a one-time effort but part of a series of measures. Depending on the outcome of these policies and the shifts in the socio-economic landscape, the Ministry of Finance may introduce more policies in the future," said Qiao.

Special purpose bonds crucial for local governments in dissolving debt risks: economist

Special purpose bonds crucial for local governments in dissolving debt risks: economist

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