Duterte bringing home $24B worth of deals from China
Duterte bringing home $24B worth of deals from China
RENEWAL OF TIES. President Rodrigo Duterte and President Xi Jinping shake hands prior to their bilateral meetings at the Great Hall of the People in Beijing on October 20.
Photo by King Rodriguez/PPD
BEIJING, China (UPDATED) – President Rodrigo Duterte and the large business delegation that accompanied him to China may be bringing home around $24 billion worth of deals, said Trade Secretary Ramon Lopez.
“Based on the numbers we are putting together now, in terms of investments, credit facilities opened, $24 billion,” Lopez told reporters on Friday, October 21, at a Beijing hotel.
The number is an increase from the $13.5 billion in deals he had announced Thursday night during a Philippines-China trade and investment forum.
Of the $24 billion, $15 billion accounts for company-to-company deals, while $9 billion pertains to loans from credit facilities to be made available to businesses, development projects, and infrastructure, among others.
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