China targets investment in major sectors

CHINA, the second biggest economy in the world after the US, has expressed willingness to invest in Papua New Guinea’s major sectors of agriculture, forestry, fishery, energy, telecommunications and transport
Chinese premier Wen Jiabao said in Tianjin on Monday while meeting with prime minister Sir Michael Somare that China encourages its enterprises to expand investment in PNG.
China’s People’s Daily online yesterday reported that Sir Michael was attending the annual meeting of the new champions 2010, also known as the summer davos in the northern Chinese port city of Tianjin.
As a friend and partner of Pacific island countries, Wen told Sir Michael that China would continue to provide assistance within its capacity for this region’s development.
The premiere also congratulated Sir Michael on the country’s 35th anniversary of independence, believing that the PNG would make more achievements in its social and economic development.
In response, Sir Michael said Papua New Guinea valued the friendly ties with China, and firmly adhered to the one-China policy.
Applauding China’s unselfish help to PNG’s national reconstruction, Sir Michael said Papua New Guinea welcomed the investment by Chinese enterprises to push forward bilateral co-operation.