China eager to share development opportunities

Chinese Ambassador to Malawi Pan Hejun says China wants to share its development opportunities with the rest of countries in Africa, including Malawi because in a globalised world no country lives as an isolated island.

Briefing the media recently on the outcome of Third Plenary Session of the 18th Central Committee of the Communist Party of China, Pan said the international community will gain more opportunities for a win-win cooperation with China following the third plenary session.

“The community of common destiny coined by the Chinese leadership is a reflection of the new type of strategic partnership between Africa and China. In a globalised world, no one can live in isolation Island of prosperity because China will remain committed to peaceful development and countries such as Malawi will greatly benefit,” he said.

Pan said China has seized the opportunities brought about by peace and development in most countries in the world and the success of its reforms has been achieved through active participation in the common development of the world.

“China will combine attracting foreign investment as well as investing overseas in exercising its open policy. Foreign investors are bound to find it easier to do business in China with the introduction of negative listings which lowered the benchmark for overseas capital,” he said.

Pan said Chinese companies will be encouraged to explore world markets, including in Africa since it is the largest exporter and second largest importer and also the fastest growing foreign direct investor.

Some of the prominent measures concerning the Chinese economy according Pan include sticking to and improving the basic economic system, accelerating the improvement of modern market system, deepening the reforms of fiscal and tax system, promoting the integration of urban and rural development and building a new open economic system.

Malawi is one of the countries in Africa where China is investing heavily, especially in infrastructure development.

The Malawi Government, using soft loans from China, has built the Presidential Hotel, the Bingu International Conference Centre and Presidential Villas in Lilongwe.

Apart from that, the Chinese have also constructed the Malawi University of Science and Technology (Must) in Thyolo and a modern stadium is currently under construction in Lilongwe.

Recently, Pan said China will increase the buying of flue cured tobacco because it has the capacity to buy every leaf the country can produce.