{"id":10854,"date":"2021-02-03T12:04:15","date_gmt":"2021-02-03T05:04:15","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=10854"},"modified":"2024-09-24T13:49:13","modified_gmt":"2024-09-24T06:49:13","slug":"chinese-investments-spike-in-the-philippines-despite-pandemic","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/chinese-investments-spike-in-the-philippines-despite-pandemic\/","title":{"rendered":"Chinese investments spike in the Philippines despite pandemic"},"content":{"rendered":"<p><span data-contrast=\"none\">The country\u2019s manufacturing industry continues to be<\/span><span data-contrast=\"none\">\u00a0backed up by Chinese coins<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<figure id=\"attachment_10867\" aria-describedby=\"caption-attachment-10867\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img decoding=\"async\" class=\"size-full wp-image-10867\" src=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1654004833.jpg\" alt=\"\" width=\"1000\" height=\"563\" srcset=\"https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1654004833.jpg 400w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1654004833.jpg 600w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1654004833.jpg 620w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1654004833.jpg 190w, https:\/\/www.asiapropertyawards.com\/wp-content\/uploads\/2021\/02\/shutterstock_1654004833.jpg 1000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><figcaption id=\"caption-attachment-10867\" class=\"wp-caption-text\">Aerial view of factories in Meycauayan, Bulacan, Luzon, Philippines. MichaelDEdwards\/Shutterstock<\/figcaption><\/figure>\n<p><span data-contrast=\"none\">In the face of economies<\/span><span data-contrast=\"none\">\u00a0turned upside-down from the pandemic, Chinese Ambassador<\/span><span data-contrast=\"none\"> to Manila Huang Xilian stated that <\/span><span data-contrast=\"none\">Chinese investments in the Philippines have in fact \u201csurged\u201d,\u00a0<\/span><span data-contrast=\"none\">mentioning the billions of dollars that have financed the steel manufacturing, as well as telecommunications industries, reported <\/span><span data-contrast=\"none\">CNN Philippines<\/span><span data-contrast=\"none\">.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Xilian<\/span><span data-contrast=\"none\">\u00a0said, \u201calthough the COVID-19 pandemic has inevitably exerted some adverse impact on international trade and investments&#8230;Sino-Philippine economic and trade exchanges have recently shown signs of warming up, demonstrating strong resilience and vitality.\u201d\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">He added that<\/span><span data-contrast=\"none\"> Chinese firm <\/span><span data-contrast=\"none\">Panghua<\/span><span data-contrast=\"none\"> Group is investing USD3.5 billion in constructing a steel manufacturing plant in Misamis Oriental. <\/span><span data-contrast=\"none\">He expects this project, along with the hiring of Filipinos to teach English to Chinese students, to create employment for thousands of locals. <\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">The ambassador also shared <\/span><span data-contrast=\"none\">that<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">state-run\u00a0<\/span><span data-contrast=\"none\">China Telecom<\/span><span data-contrast=\"none\">\u00a0has funded more than\u00a0<\/span><span data-contrast=\"none\">USD5 billion<\/span><span data-contrast=\"none\"> to Dito Telecommunity, whose <\/span><span data-contrast=\"none\">scheduled to have a commercial rollout in three months.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">Dito, owned by businessman Dennis Uy, is anticipated to\u00a0<\/span><span data-contrast=\"none\">test incumbent giants like Smart Telecommunications Inc. and Globe Telecom Inc. in discounting prices while increasing internet speed.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><strong><a href=\"https:\/\/www.asiapropertyawards.com\/en\/china-boosts-tourism-in-hainan-with-two-new-offshore-duty-free-shops\/\" target=\"_blank\" rel=\"noopener noreferrer\">More: China boosts tourism in Hainan with two new offshore duty-free shops<\/a><\/strong><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">According to\u00a0<\/span><span data-contrast=\"none\">Xilian<\/span><span data-contrast=\"none\">, China and the Philippines have been continuously\u00a0<\/span><span data-contrast=\"none\">encouraging\u00a0<\/span><span data-contrast=\"none\">the\u00a0<\/span><span data-contrast=\"none\">cooperation<\/span><span data-contrast=\"none\">\u00a0between the \u201cBelt and Road Initiative\u201d, including the \u201cBuild\u00a0<\/span><span data-contrast=\"none\">Build<\/span><span data-contrast=\"none\">\u00a0<\/span><span data-contrast=\"none\">Build<\/span><span data-contrast=\"none\">\u201d program<\/span><span data-contrast=\"none\">\u00a0for the time being<\/span><span data-contrast=\"none\">, in hopes to boost economic recovery.\u00a0<\/span><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559739&quot;:120,&quot;335559740&quot;:259}\">\u00a0<\/span><\/p>\n<p><span data-contrast=\"none\">President Rodrigo Duterte continues to<\/span><span data-contrast=\"none\"> foster the Philippines\u2019 relationship with China, referring to the nation as \u201ca close <\/span><span data-contrast=\"none\">neighbour<\/span><span data-contrast=\"none\">\u00a0and valued friend,\u201d mentioning that the two countries will become even strong ties during the pandemic.\u00a0<\/span><\/p>\n<p><span data-ccp-props=\"{&quot;201341983&quot;:0,&quot;335559685&quot;:360,&quot;335559739&quot;:120,&quot;335559740&quot;:259,&quot;335559991&quot;:360,&quot;469777462&quot;:[360],&quot;469777927&quot;:[0],&quot;469777928&quot;:[8]}\">\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The country\u2019s manufacturing industry continues to be\u00a0backed up by Chinese coins\u00a0<\/p>\n","protected":false},"author":12,"featured_media":20981,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[137,1075,935,129],"class_list":["post-10854","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-china","tag-international-trade","tag-investors","tag-philippines","news_country-china","news_country-philippines","news_author-property-report"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Chinese investments spike in the Philippines despite pandemic | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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