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16.Both sides recognize that infrastructure cooperation has been a highlight of China-Philippines bilateral cooperation. The two sides will work for the timely completion of the Chico River Pump Irrigation Project and the Binondo-Intramuros and Estrella-Pantaleon Bridges, facilitate the implementation of projects such as the New Centennial Water Source-Kaliwa Dam Project, the Safe Philippines Project Phase I and the Philippine National Railways South Long Haul Project, and other priority projects lined up for feasibility study support and implementation, and ensure effective implementation of ongoing projects. Both sides will work towards the formulation of relevant procedures and protocols for government concessional loan (Renminbi-denominated loan), and utilize preferential buyer's credit, commercial loans for development and co-financing arrangements between China and multilateral development banks, to provide financial support to key infrastructure projects.
The Chinese government places high importance on deepening the reform of government functions and enhancing the business environment. Premier Li Keqiang pointed out that the business environment is like the soil nourishing corporate development and reflects market competitiveness. It is hence crucial to foster a world-class business environment that is market-driven, law-based and up to international standards.
Wang stressed that it is quite necessary for China and France, as comprehensive strategic partners, to strengthen strategic communication on major international issues, including the agenda of the G20 summit.
To mark the 55th anniversary of the establishment of France-China diplomatic ties, the two sides should join hands to host a series of celebrations, he said.
A basic system with BeiDou-3 satellites orbiting will be in place by the year-end to serve countries in the China-proposed Belt and Road Initiative, said Yang Changfeng, chief designer of the system.
