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More than 60 countries will send naval delegations to participate in the 70th anniversary of the founding of the Peo
ple’s Liberation Army Navy in late April, a spokesman for the Ministry of National Defense said on Thursday.
The celebration will showcase the progress of the PLA Navy and its growing capabili
ty in safeguarding China’s overseas interests as well as regional and world peace, an expert said.
The multinational naval event will take place in Qingdao, Shandong province, in late Ap
ril, said ministry spokesman Senior Colonel Wu Qian. April 23 is the 70th anniversary of the PLA Navy’s founding.
The naval event will include high-level dialogues, an international fleet review, military band performances, cultural and sports e
xchanges as well as other activities, Wu said. Some nations will send military ships to participate in the fleet
review, though details are still in the works and will be announced at a later date, he added.
Cooperation at the ministry’s Office for International Military Cooperation, said that comp
ared with other branches of the military, the PLA Navy plays a relatively larger role in protecting China’s overseas inter
ests and maintaining security in key sea lanes such as the Gulf of Aden and waters off Somalia.
“The PLA Navy is at the forefront of proving that the Chinese milita
ry is an open, cooperative and competent force for peace,” he said, adding that the PLA Navy has f
requently participated in humanitarian rescue missions, naval escorts, joint exercises and exchanges in past years.
“Through these non-war military operations, the Chinese Navy has also improved its capability and operability in dis
tant waters,” Zhou said. “Many security issues around the world require global efforts, and as its capability impr
oves, the PLA Navy can play a bigger part and contribute more to global maritime security.”
Chinese local government bonds worth 1.4 billion yuan ($208.5 million) were snapped up by retail investors within a single day, after counter sales in banks we
re made available for the first time. The fundraising will help supplement a broader fiscal deficit this year, analysts said.
On Monday, individuals in China were able to purchase bonds issued by t
he Zhejiang provincial government (five-year term, 3.32 percent coupon rate) and the N
ingbo city government (three-year term, 3.04 percent coupon rate). Proceeds from the sales will be used for land purchases (300 million yuan) and shantytown renovations (1.1 billion yuan), acc
ording to a notice on the website of China Central Depository and Clearing, a clearinghouse under the central bank.
The minimum investment amount for retail investors is 100 yuan, lower than most wealth management products issu
ed by commercial banks. Previously, individual investors could only purchase bonds issued by the central government, kno
wn as treasury bonds. And before Monday, local government bonds were traded mainly in the interbank market.
gmatism over its decision of endorsing the Belt and Road Initiative (BRI), saying Xi and Mattarella agreed
that China and Italy, which are at the two ends of the ancient Silk Road, are natural partners in constructing the Belt and Road.
Conte, according to Wang, said the BRI will bring great opportunities to Italy. He also agre
ed to attend the second Belt and Road Forum for International Cooperation to be held in Beijing next month.
France is one of the earliest European countries that have expressed the willingness to take pa
rt in the BRI cooperation. During Xi’s visit to France, the two countries signed agreements on the third round of the BRI-related dem
onstration projects in third-party markets and kicked off a third-party market fund, Wang said.
At the closing session of a global governance forum co-hosted by China and France, Macron
said the BRI is significant and can play an important role in world peace, stability and development, adding that the EU could align
its development strategy with the BRI in an innovative way and jointly promote Eurasian connectivity.
inated and inter-connected, and fair and inclusive approach and forge a growth
model of vitality, a cooperation model of openness and win-win results, and a developm
ent model of balance and common benefits, so that people from across the world could share the benefits of economic globalization, Xi said.
This year marks the 70th anniversary of the founding of the People’s Republic of China, Wang said.
During his visit, Xi, based on China’s just-concluded Two Sessions earlier this month, illu
strated to the European leaders the fine performances of the Chinese economy which had overcome multiple challenges in 2018.
Wang said Xi also introduced the newly-adopted foreign investment law, emphasizi
ng that it is necessary to use legal means to better protect intellectual property rights and attract foreign investment.
Xi pointed out that China will continue to push forward all-round reform and opening-up, promote trade and investment
liberalization and facilitation, so that European friends can better share China’s development opportunities.