The Fund for Development Cooperation between China and Portuguese ‑speaking countries, currently being operated out of Beijing, will transfer its headquarters to Macao in order to facilitate contact with interested parties
The US$1 billion fund, announced during the Fourth Ministerial Conference of Forum Macao in 2013, is a joint initiative of the China Development Bank and the Macau Industrial and Commercial Development Fund (FDIC). The first installment of US$125 million was provided by these two parties: China Development Bank Capital Corporation Ltd. with US$75 million and the FDIC with US$50 million. Operation and management of the fund will be the responsibility of the China‑Africa Development Fund, which is part of the China Development Bank. The fund will focus on the investment and financing needs of mainland Chinese companies (including those based in Macao) and those in Portuguese ‑speaking countries, placing emphasis on supporting the establishment of companies from mainland China and Macao in Portuguese ‑speaking markets and attracting companies from such countries to develop inside of China. The Fifth Ministerial Conference of the Forum for Economic and Trade Cooperation
between China and Portuguese ‑speaking countries was held on the 11th and 12th of October 2016. The event was not only attended by the Chinese Prime Minister Li Keqiang but also by the Prime Minister of Cabo Verde José Ulisses Correia e Silva, Prime Minister of Guinea‑Bissau Baciro Dja, Prime Minister of Mozambique Carlos Agostinho do Rosário, Prime Minister of Portugal António Costa, Minister of Economy of Angola Abrahão Gourgel of Angola, Minister of Industry and Foreign Trade and Services of Brazil Marcos Pereira and Minister of State, Coordinator of Economic Affairs and Minister of Agriculture and Fisheries of Timor ‑Leste, Estanislau Aleixo da Silva. Representation for Sao Tome and Principe, also a Portuguese ‑speaking country, was absent as it is not a member of Forum Macao. Forum Macao was established in 2003 by China´s Ministry of Commerce with the aim of strengthening relations with Portuguese ‑speaking countries utilising Macao as a strategic platform. NOVEMBER 2016
Published on Nov 27, 2016
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