Muscat discusses financing of Chinese projects in Malta

Yesterday evening Prime Minister Joseph Muscat had informal talks with leading representatives from China’s business, financial and banking sectors. 

The meetings were held after the signing of a Memorandum of Understanding between the Maltese and the Chinese government.

The meeting was held behind closed doors and was not open to the Maltese press.

Earlier in the day, Bejing also hosted US secretary of State John Kerry, who was in Bejing yesterday on a China-US Strategic and Economic dialogue meeting.

During the China-Malta meeting later in the evening, a discussion on the issue of financing for Chinese companies by Chinese banks took place. 

“The banking and financial sector is very positive about this,” a PM aide told MaltaToday.

At yesterday’s meeting, the PM made it clear that he was not rushing into a decision about the Gozo bridge and had asked the Chinese company CCCC to carry out more studies.

He also announced a new project supported through Chinese financing. This involves a multi-million euro investment to build a breakwater.

“The Marsamxett breakwater would open the possibility of extending yachting facilities in the harbour,” he said.

Muscat also emphasised the likeliness of growth in the aviation sector, though it is unclear whether this will be simply restricted to registration of Chinese airlines or the setting up of aviation maintenance centres in Malta together with Chinese companies.

Muscat will be meeting Vice President Li Yuanchao and addressing an Eco-Forum being held in the city of Guiyang, a city of 4.3 million people located two-and-a-half hours away from Beijing by plane.

On the visit so far, Muscat told MaltaToday, “It has been a very positive experience and we are very content with the outcome of our meetings. ”  

Deputy Prime Minister Louis Grech also said, “The success of these meetings will go a long way to dampen the prejudices of those who question our work here in China.”

The delegation includes special envoy Sai Mizzi, the Maltese ambassador Clifford Borg Marks, chief of staff Keith Schembri, Labour MP Deo Debattista and spokesman Kurt Farrugia.

The Prime Minister’s wife Michelle Muscat, who was invited by the Chinese government, did not accompany the delegation to Guiyang.