GPS News  
TRADE WARS
Canada PM Trudeau to mount charm offensive in China: officials
By Michel COMTE
Ottawa (AFP) Aug 26, 2016


Poland first in Europe to issue Chinese 'Panda bonds': ministry
Warsaw (AFP) Aug 25, 2016 - Poland on Thursday said it became the first European country to issue government bonds on the Chinese market, opening the door to new sources of financing as Warsaw plans to run a record deficit next year.

The Polish finance ministry said it had issued three-year bonds worth three billion yuan (400 million euros, $451 million)and denominated in the Chinese currency, also revealing in a statement that earnings "were swapped into euros".

"After securing the necessary permission from Chinese regulators, we became the first European country to issue Polish bonds on the Chinese market," a Polish finance ministry statement said.

The move comes after the Polish populist-oriented rightwing Law and Justice (PiS) government said Monday it would raise spending next year to just under an EU-wide limit of 3.0 percent of GDP, while also cutting growth forecasts for central Europe's largest economy.

"Emitting bonds on the Chinese market was aimed above all at diversifying our investor base and acquiring financing to cover this year's loans," the finance ministry added.

The PiS won an October 2015 election on promises of generous social spending -- including a universal child benefit scheme -- raising concerns it could bloat Poland's moderate public debt.

The ministry pegged the 2017 deficit at 2.9 percent of GDP in a Monday statement, or 59.3 billion zloty (137 billion euro, $156 billion).

The figure totals around five billion zloty more in deficit spending over 2016, Poland's Puls Biznesu financial daily reported.

The ministry also dialled down its growth estimate for 2017 from 3.9 percent to 3.6 percent, with average annual inflation set to hit 1.3 percent. It also revised its growth forecast for this year to 3.4 percent, down from 3.6 percent.

The IMF said in July it expected spending to increase "the budget deficit to 2.8 percent of GDP in 2016 and to over 3 percent of GDP in 2017", compared to 2.6 percent in 2015, before a planned return to fiscal consolidation from 2018.

It also said growth would accelerate to 3.7 percent in 2017 from an estimated 3.5 this year, thanks to "strong private consumption supported by the new child benefit scheme, before moderating over the medium term".

Chinese President Xi Jinping visited Poland in June.

Canadian Prime Minister Justin Trudeau will tour the Great Wall, shoot hoops with retired basketball star Yao Ming and meet with women entrepreneurs when he travels to China next week to bolster trade and diplomatic ties, his office said Friday.

There will also be meetings with Chinese President Xi Jinping and senior government officials during the August 30 to September 6 trip, which includes stops in Beijing, Shanghai and Hong Kong.

Trudeau will travel as well to Hangzhou for a summit meeting of the Group of 20 economic powers on September 4 and 5.

But ordinary Chinese citizens can also expect to see the playful political leader pose for selfies with locals, and reach out to them through social media -- as he has done everywhere he has gone since being elected to Canada's highest office late last year.

"The prime minister has a WeChat and Weibo account and we will be using these during the trip," a senior government official said, referring to two popular social-media platforms in China.

But the trip, made at the invitation of Premier Li Keqiang, comes as a handful of trade irritants and other stresses weigh on the relationship.

These include Chinese plans to impose new rules on canola imports to protect against crop disease, potentially affecting Can$2 billion (US$1.5 billion) worth of annual Canadian oilseed sales to China.

Trade Minister Chrystia Freeland, who will be accompanying Trudeau, said this week that the bilateral relationship could not improve until the matter is resolved.

The detention of Canadian citizen Kevin Garratt in 2014 on espionage charges also looms over the visit. He had run a Christian-themed coffee shop near the North Korean border.

China, meanwhile, is seeking a lifting of restrictions on foreign ownership of Canadian oil-sands leases.

"What we need with China is to reset the relationship a little bit," Trudeau told reporters.

"The previous government went from hot to cold and didn't have the robust engagement to allow for covering of a broad range of topics in strong and meaningful ways," he said.

"We look forward to engaging with China on the economic files and allowing greater access to the growing Chinese middle-class market for Canadian products and goods and services. But also, we'll be engaging in a strong and robust way how China can improve human rights, governance and democracy issues, in a way that's consistent with its desire to improve its reputation on the world stage."

A senior government official underscored the importance of the visit.

"Canada's future prosperity is increasingly tied to China," the official told reporters. "To grow its economy... it's imperative that Canada renew its relationship with China."

Trudeau will also seek cooperation with China on climate change and other global issues, press for increased tourism from China, and urge Chinese business leaders to boost their investments in Canada.

He will meet privately with managers of the Chinese conglomerate Fosun, which purchased a minority stake in Montreal-based Cirque du Soleil last year.


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


.


Related Links
Global Trade News






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

Previous Report
TRADE WARS
Iran interested in proposed Chinese-built canal in Nicaragua
Managua (AFP) Aug 24, 2016
Iranian firms want to participate in the construction of a massive canal across Nicaragua that a Chinese company has vowed to build, Iranian Foreign Minister Mohammed Javad Zarif said Tuesday. Representatives of private Iranian construction companies accompanying Zarif on a visit to Nicaragua's capital discussed the possibility of getting a slice of the $50 billion project, the minister told ... read more


TRADE WARS
Researchers image roots in the ground

Trade liberalization could buffer economic losses in agriculture

Study reveals genetic history of the cultivated strawberry

China's COFCO buys rest of Dutch commodity trader

TRADE WARS
New microchip demonstrates efficiency and scalable design

Electrons at the speed limit

New theory could lead to new generation of energy friendly optoelectronics

X-ray optics on a chip

TRADE WARS
Australia to study drift of MH370 debris

Lockheed Martin gets max $10B contract for Air Force C-130J production

Power of Pink Provides NASA with Pressure Pictures

NASA-funded balloon mission begins fourth campaign

TRADE WARS
VW pressed by US judge and dealerships in "dieselgate"

Bio-inspired tire design: Where the rubber meets the road

Giving eCar drivers more miles per minute of charging

Singapore trials driverless taxis in world first

TRADE WARS
Apple faces huge Irish tax payout in EU case

Canada PM Trudeau to mount charm offensive in China: officials

Chinese tycoon to buy US aluminium maker for $2.33 bn

Iran interested in proposed Chinese-built canal in Nicaragua

TRADE WARS
Europe's oldest known living inhabitant

Logged rainforests can be an 'ark' for mammals, extensive study shows

Logged forests are havens for endangered species in Southeast Asia

Colombia to plant eight million trees for conflict victims

TRADE WARS
Stanford scientists combine satellite data and machine learning to map poverty

Van Allen probes catch rare glimpse of supercharged radiation belt

New map of world vegetation reveals substantial changes since 1980s

CYGNSS Undergoes Vibration Testing

TRADE WARS
Lehigh engineer discovers a high-speed nano-avalanche

Silicon nanoparticles trained to juggle light

Quantum dots with impermeable shell: A powerful tool for nanoengineering

Researchers resolve problem that has been holding back a tech revolution









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.