Duterte caps China visit with $24B investments, loansBEIJING, China—The Philippines has secured around $24 billion worth of investments and credit facilities to cap President Rodrigo Duterte’s “highly successful” four-day state visit in China. MB FILE – Philippine President Rodrigo Duterte, left and Chinese President Xi Jinping shakes hands after a signing ceremony held in Beijing, China, Thursday, Oct. 20, 2016. The investments “cut across different industries—agriculture, renewable energy, tourism, food, manufacturing, telecommunications, infrastructure,” the trade chief added. The investments came after President Duterte and Chinese President Xi Jinping agreed to forge stronger closer diplomatic and economic cooperation despite a lingering maritime conflict. Another agreement forged was the $1-billion development of the 300 megawatt Pulangui-5 Hydro project between Greenergy Development Corporation and Power China Guizhou Engineering Corporation.

Source: Manila Bulletin October 21, 2016 07:30 UTC