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China to Create $3bln Investment Fund for CEE Countries
   2014-12-17 09:25:43    CRIENGLISH.com      Web Editor: Zhang

Chinese Premier Li Keqiang (C) addresses the third China-Central and Eastern European (CEE) Leaders' Meeting in Belgrade, Serbia, on Dec. 16, 2014. [Photo: Xinhua/Rao Aimin]

 

Chinese Premier Li Keqiang has said China wants to seek new models of financing investments in central and east Europe and it would create a new investment fund of 3 billion U.S. dollars.

He made the remarks while addressing the China-Central and East Europe summit in Belgrade, Serbia, on Tuesday.

"Countries in Eastern Europe and the region will have access to a credit line worth 10 billion U.S. dollars, the cost of borrowing will be lowered which will allow for bigger investments. China will create a new investment fund with a total value of $3 billion, and we are looking forward to new ways of cooperation through private-public partnership, various leasing arrangements, which will make our cooperation more efficient and productive."

Trade between China and the region, which has expanded five-fold since 2003, is high on the agenda of the two-day summit.

Serbian Prime Minister Aleksandar Vucic.

"Prospects show that almost half of the entire economic growth will come from Asia and that makes this forum a great opportunity for new economy chances, job prospects and encouraging economic growth in this part of Europe."

Li Keqiang had met with leaders of 16 CEE countries ahead of the meeting, where they agreed to promote cooperation in areas ranging from infrastructure to energy.

The Chinese Premier arrived here late Monday. After the summit, he will pay an official visit to Serbia.

During the three-day visit, Li Keqiang is expected to ratify a deal with Hungary and Serbia for Chinese construction of a high-speed rail link between Belgrade and Budapest.

Li Keqiang is the first Chinese premier to visit the country in almost 30 years.

After the visit to Serbia, he will fly to Thailand, the last leg of his three-nation trip.

Related: China, CEE Countries Vow to Boost Practical Cooperation

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