Off the wire
• Shanghai baked by summer heat  • Across China: Anything and everything delivered to your doorstep  • Russia expels Swedish diplomat in tit-for-tat response  • 3 Indonesia's volcanoes still spew ash  • First train from China arrives in Baku via Trans Caspian Int'l Transport Route  • Feature: Haiyan survivors in Philippines still in dire conditions almost 2 years after disaster  • Roundup: KSE breaches 35,900 pts in 6th straight bullish day  • Britain extends air strikes against IS in Iraq by one year  • Interview: In 40 years, China, Thailand foster full-fledged ties: ex-Thai premier  • Feature: China's culture permeates int'l book fair in Peru  
You are here: 　 Home

China to continue to finance projects in Ecuador

Xinhua, August 4, 2015 Adjust font size:

The Chinese Ministry of Commerce (MOC) will continue encouraging domestic financial institutions to fund major projects in Ecuador, it said Tuesday.

MOC spokesman Shen Danyang said in a news conference that Chinese enterprises have been "successfully" participating in big projects in Ecuador and the investment has boosted the local economy and improved livelihoods.

"The government encourages domestic financial institutions to support Chinese investment in Ecuador, particularly in infrastructure construction and industrial upgrades," said Shen.

The MOC also asked Chinese enterprises to employ and train more local workers, and transfer technology to their Ecuadorian partners, according to the spokesman.

China is the Latin American country's top financial support provider and third largest trading partner.

The two countries announced in January to establish "a strategic partnership" amid the commemorations of their 35-year-long diplomatic ties.

During a meeting with Ecuadorian President Rafael Correa, Chinese President Xi Jinping underlined the leading role of financial cooperation, calling for more collaboration in energy, electric power, minerals, infrastructure, agriculture technology, high-tech and new energy. Endi