China Fully Committed to Debt Relief Plans Of

BUSINESS CHINA DAILY HONG KONG EDITION Friday, October 30, 2020 Airbus to China fully start A350 deliveries committed to from debt relief Tianjin By ZHU WENQIAN [email protected] European aircraft manufac- turer Airbus said on Thursday plans of G20 that it is expected to deliver widebody A350 aircraft from its completion and delivery center Measures to ease burden of poor nations in Tianjin from the first quarter of next year. and boost sustainable development An aerial view shows volunteers posing amid the decorations at the National Exhibition and Con- The Airbus Tianjin widebody vention Center in Shanghai, the venue for the 3rd CIIE. GAO ERQIANG / CHINA DAILY completion and delivery center, By CHEN JIA global fiscal stimulus packages may the company’s first widebody [email protected] have achieved $12 trillion, and the completion and delivery center average deficit ratio is projected to outside Europe, is gradually China is implementing the debt increase by 9 percentage points Livestreaming to enhance value of CIIE shifting its work, including cabin relief plans promoted by the Group from last year. installation and aircraft paint- of 20 to help ease the debt burden of G20 finance ministers and cen- ing, to A350XWB. poor countries and achieve sustain- tral bank governors agreed to By HE WEI in Shanghai taining to say,” he said. fray, amid an army of online influ- “At the beginning, the delivery able development during the novel extend the Debt Service Suspen- [email protected] Apart from introducing new encers. Spectators are also antici- rate of A350 from Tianjin won’t coronavirus epidemic, a senior gov- sion Initiative by six months at a brands and products to the Chi- pated to converse virtually with be too fast, and we plan to gradu- ernment official said. virtual meeting on Oct 14, which Livestreaming is arguably the nese market, Fonterra is using the L’Oreal colleagues from Paris, ally increase the delivery rate to As many poor countries are facing allows eligible countries to suspend catchiest word in China’s retail CIIE to sign agreements with local where they are set to share the about one aircraft a month. Chi- difficulties related to sustainable official bilateral debt service pay- playbook this year, thanks to the partners. According to Chow, lives- avant-garde fashion trends. na will become a very important debt issues, joint efforts and cooper- ments till the end of this year. They rapid growth of online-to-offline treaming stands to amplify the Megarbane said the company is strategic market for Airbus,” said ation are needed between countries, also confirmed that a further exten- shopping and COVID-19-induced influence of these newly-formed planning to unveil a virtual lives- George Xu, CEO of Airbus China. and multilateral development insti- sion by another six months is possi- social distancing. partnerships and raise the aware- treaming host dubbed M Jie tutions should innovate financing ble if the economic and financial Now that the 3rd China Interna- ness of those domestic labels that backed by virtual reality technolo- methods to provide long-term, sta- situation requires. tional Import Expo is around the might not necessarily qualify as an gies at the expo. ble and low-cost funds, Deputy Not only the Chinese government corner, exhibitors are looking to “import” exhibitor to make it to the The COVID-19 epidemic is expe- Finance Minister Zou Jiayi said dur- but also large Chinese financial anchor this new vehicle to cele- event. diting the digitalization of the tra- Airbus has been ing a recent summit. institutions are participating in the brate the fair and showcase prod- “So, with livestreaming, we are ditional exhibition industry, with actively localizing China is taking “concrete” meas- G20 debt relief plans, which have ucts to a much broader audience. not just promoting our products, smooth virtual meetings, messag- ures to fully align with G20 debt several achievements, according to New Zealand dairy giant Fonter- but the CIIE as a whole,” he said. ing and livestreaming becoming its business in relief plans and help the debt-bur- Zhou Xiaochuan, former governor ra is scheduled to host some 15 As an early advocate of lives- imperative to connect exhibitors China and dened countries, she said. of the People’s Bank of China, the livestreaming sessions from their treaming in its infancy, French cos- and buyers in many trade fairs. “The COVID-19 pandemic is still central bank. “The future develop- booth during the expo starting Nov metics giant L’Oreal Group will But livestreaming at the CIIE is integrating itself expanding in some emerging and ment will rely on free trade and 5, broadcasting everything from make livestreaming the core of its by no means unique to retail into the aviation low-income countries, resulting in investment, as well as multilateral- product debuts to bakery tech- presence throughout the six-day brands or consumer companies. industrial chain in economic recession, currency ism.” niques, according to Teh-han event. Zai Lab, a biopharmaceutical com- depreciation, unbalanced fiscal rev- Debt restructuring may not be a Chow, CEO of Fonterra in China. Equipped with a dedicated lives- pany debuting at this year’s expo, is the country.” enue and spending, and growing good way to solve the problem, said “Livestreaming obviously is the treaming room, L’Oreal will con- elbowing its way in livestreaming Lin Zhijie, debt. Some countries’ sovereign rat- Zhou, who said it was difficult to trend now. We are helping to duct livestreaming via six major to reach out to multiple stakehold- an aviation industry analyst ing is about to drop, which will establish a common framework for spread the news about the impor- social media and e-commerce plat- ers and keep them abreast of the increase the pressure on debt sus- all borrowers and lenders. His tance of imports and the role it forms from Weibo and Xiaohong- company’s latest developments tainability,” said Zou. comments are a response to the plays in the economy,” he said. shu to WeChat and Taobao. and milestones. Meanwhile, Airbus delivered The official urged the Internation- G20’s latest call to prepare a com- With a mixture of excitement “We see livestreaming becoming At least three major livestreaming its 500th A320 family aircraft al Monetary Fund to increase gener- mon framework on debt restruc- and nervousness, Chow said he mainstream because it is one-to- sessions via WeChat, each lasting from its final assembly line in al allocation of its Special Drawing turing, as some of the members would personally participate in one live connection that is enter- one hour or so, are scheduled to be Tianjin to China Southern Air- Rights — the IMF units based on a view it as a measure to ensure one session that will introduce taining and educational,” said held from Nov 5 to Nov 7, according lines on Thursday. By the end of basket of leading currencies that bilateral lenders share the burden two innovative beverages using Fabrice Megarbane, president and to Chen Xiaoyu, senior director of September, China Southern, the can boost all members’ foreign equally and make relief condition- Fonterra’s ingredients. Other ses- CEO of L’Oreal China. “We have to corporate communication. largest carrier in terms of fleet reserves and purchasing power, to al on borrowers seeking the same sions will see professional chefs bring it as a tool to interact with The inaugural session will fea- size in China, had an Airbus fleet especially help developing countries treatment from banks and bond- and nutrition experts educating consumers who don’t have the ture a signing ceremony between of 368 aircraft, comprising A320, enhance international payment holders. Fonterra’s individual and busi- chance to visit the CIIE.” the firm and the Hainan provincial A330, A350 and A380. capacity and tackle shocks of the As the pandemic so far is far ness customers, both existing and With the full participation of its government, followed by a booth “The delivery of the 500th A320 COVID-19 crisis. worse than most people contem- prospective. 11 brands in China, L’Oreal is invit- tour conducted by two Zai Lab family aircraft, an A320neo, International financial organiza- plated, “it means that many of the “You have to be able to chitchat ing Justin Li Jiaqi, a former L’Oreal employees. The other two sessions assembled in Tianjin, is an impor- tions can help support countries in developing countries and emerging and respond very quickly, and be employee and a top-tier lives- would focus on engaging with tant achievement of Airbus in Chi- preventing financial risks, explore markets will be unable to pay what hands-on. And you have to come treaming host who is dubbed Chi- technology partners and patients na. It is a testimony to the regulatory policy frameworks that is owed. The initial response of the up with something fun or enter- na’s best lipstick-seller, to join the and the general public. excellent industrial cooperation encourage the financial sector to G20 was a stay, but the stay is not between the Chinese aviation serve the real economy, and support enough,” said Joseph Stiglitz, a pro- industry and Airbus. We are ready medium- to long-term financing, fessor with Columbia University Briefly to develop and grow our strategic the official said. and a winner of the Nobel Prize in partnership in China,” Xu said. “Essentially, the debt problem is Economics. The Tianjin facility, which has related to development issues, “But immediately, we need to do Foreign trade up by 7.3 percent to around 990.4 billion yuan ($84.4 billion) on a cumula- been in operation for 12 years, which should prevent the liquidity something about the many coun- 2.7% in Shenzhen yuan, according to the Shenzhen tive basis.

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