Vanuatu Investment Immigration focuses on Vanuatu news:
On June 4, 2013, Xie Bohua, the Chinese Ambassador to Vanuatu, published a signed article titled "The Chinese Dream and Perspectives on China-Vanuatu Relations" in the mainstream Vanuatu media, the Daily Post. Taking Australia and New Zealand Banking Group's (ANZ) recent launch of offshore RMB services in Vanuatu as a starting point, the article cites ANZ's positive assessment of China's economy and its judgment on China's future economic trends to discuss the positive significance of China's development for developing countries, including Vanuatu. The article introduces the basic meaning and grand goals of the Chinese Dream to the people of Vanuatu, emphasizing that China's development is closely linked to the development of countries around the world. The article lists the fruitful results of China-Vanuatu cooperation in recent years, analyzes the enormous potential for Vanuatu's economic and social development, and offers a vision for the future of China-Vanuatu relations. The full text is as follows:
"Do you do business with China? Come and explore the benefits of using the RMB as a transaction currency!" This is the advertisement recently placed by Australia and New Zealand Banking Group (ANZ) on the front page of the Daily Post. ANZ is the first bank to provide direct RMB transaction services in the South Pacific region and Vanuatu.
On April 29, 2013, I had the honor of being invited to attend the launch ceremony for RMB services held by the Vanuatu branch of ANZ. The globalization of the RMB is conducive to the economic development of China and its trading partners. China's economic ties with the world have never been as close as they are today. I believe it is my duty to introduce China's economic development, the recently discussed Chinese Dream, and the future of China-Vanuatu relations to the public in Vanuatu.
Achievements of the Chinese Economy
General Assessment
When discussing the achievements of the Chinese economy, I would like to quote the assessment made on the front page of ANZ's research handbook, "RMB—A New Global Currency." It reads: "China's economy has achieved world-renowned successes over the past three decades, which have been called an economic miracle. Through the implementation of reform and opening-up policies, China has now become the world's manufacturing center, providing the world with a vast array of goods and services, and contributing to global economic development. China's active participation in the process of globalization has lifted tens of millions of people out of poverty."
Achievements of the Past Five Years
I would like to specifically mention the achievements China has made since the 2008 global financial crisis. China has actively responded to the adverse effects of the global financial crisis and successfully maintained steady and rapid economic growth. The economic achievements of the past five years have been remarkable. China's GDP has grown from 26.6 trillion yuan to 51.9 trillion yuan (approximately 8.2 trillion U.S. dollars), ranking second in the world. 58.7 million urban jobs have been created. China's productivity levels, comprehensive national strength, people's living standards, social security levels, and international status and influence have all significantly improved.
What Does China's Economic Development Mean?
The development of China described above is by no means just a macroeconomic phenomenon. It means a vast market and business opportunities, the convenience of offshore RMB settlement, and continued assistance and zero-tariff measures for the least developed countries, including Vanuatu.
Major Trading Partners and a Huge Market
In fact, the development of China's trade with other countries has exceeded expectations. Take Australia as an example; China has become Australia's largest trading partner. In 2012, China accounted for 29% of Australia's total exports and 18% of its total imports. For China, Australia is its sixth-largest source of imports and ninth-largest export market. Taking ASEAN as another example, as ASEAN's largest trading partner, China signed a free trade agreement with ASEAN in 2010, meaning all tariffs were eliminated by 2013. ASEAN is China's fourth-largest export market and third-largest import market. ANZ predicts that by 2015, China will provide the world with: a consumer market worth up to 5 trillion U.S. dollars; a large volume of sustainable raw material orders; technology and capital; thousands of projects aimed at upgrading technology and service sectors; and more liberalized capital and currency markets. A China with a huge, growing market is becoming increasingly attractive to other countries, including Vanuatu.
Benefits of Offshore RMB Business
One of the results of China's rapid economic development is the increasing international recognition and demand for the RMB. Offshore RMB business provides customers with many benefits; for example, multinational companies willing to receive and settle payments in RMB can gain more trade opportunities and more favorable prices from their Chinese counterparts, shorten transaction times, and reduce transaction costs.
Sustainable Assistance
While I am proud of the achievements made over the past 30-plus years, I must admit that there are still families in China who cannot afford their children's college tuition, families who have become impoverished due to illness, and many young people in cities who cannot afford to buy homes. Although China faces many of its own problems, such as poverty, unbalanced development, an aging population, and environmental pollution, China, as a responsible major country, has always helped other developing countries to the best of its ability. China's foreign aid comes without any political strings attached and is committed to helping recipient countries enhance their self-development capabilities based on equality, mutual benefit, and common development.
As one of the aid-providing countries to Vanuatu, China maintains good relations with the Vanuatuan side. China's aid to Vanuatu includes, but is not limited to, the following projects: the expansion of the Emalus Campus of the University of the South Pacific, the National Convention Center, human resources training, Chinese medical teams sent to Port Vila and Santo, technical and defense cooperation, and the donation of materials. In the future, China will better fulfill its international aid responsibilities and strengthen cooperation with Vanuatu in various fields such as fisheries, climate change, disaster prevention, and biogas development.
Zero-Tariff Policy for Least Developed Countries
China's development is good news for the least developed countries. Since 2008, China has been the largest export market for the least developed countries. According to an agreement reached between China and Vanuatu in 2012, China began granting zero-tariff treatment to 95% of products from Vanuatu in 2013. Previously, in 2010, China granted zero-tariff treatment to 60% of Vanuatuan goods. China has promised to continue to expand the scope of preferential treatment for the least developed countries with which it has established diplomatic relations, bringing the total number of items subject to zero tariffs to 95% of the entire tariff line. The zero-tariff measures have promoted exports from the least developed countries to China.
The Chinese Dream and Perspectives on China-Vanuatu Relations
How will this massive economy develop in the future? ANZ remains optimistic about the prospects of the Chinese economy, stating that "the successful and smooth transition of China's leadership in 2012 will certainly expand China's future economic expectations."
The Chinese Dream
Speaking of the future, the "Chinese Dream" has recently become a hot topic of discussion both in and outside of China. The Chinese Dream was first proposed by China's new leadership, President Xi Jinping, and refers to national rejuvenation and the prosperity of the people. President Xi Jinping pointed out that the Chinese Dream must originate from the people and be for the people. The Chinese economy supports the Chinese Dream, and the Chinese Dream leads the Chinese economy forward. The 18th National Congress of the Communist Party of China has already drawn up a grand blueprint. China will achieve the grand goal of building a moderately prosperous society in all respects by 2020 and achieve the "double doubling," meaning that by 2020, China's GDP and per capita income will double from their 2010 levels.
China has both a glorious history and a painful semi-feudal and semi-colonial past. Today, under the leadership of the Communist Party of China, the Chinese people are striding forward unswervingly along the path of socialism with Chinese characteristics. China will not abandon its own development path. While I fully understand the many challenges China faces and am well aware that there is a vast amount of work to be done, I remain full of confidence in achieving the Chinese Dream.
Perspectives on China-Vanuatu Relations
As the Chinese Ambassador to Vanuatu, I am also full of confidence in Vanuatu. Since its independence from British and French rule in 1980, Vanuatu has chosen its own Melanesian path of development, although this was not easy at the beginning. As the late founding father of Vanuatu, Walter Lini, pointed out in the Declaration of Independence, "(Vanuatu) has started on a different path, a path that is bound to be long and arduous." Over the past 30-plus years, thanks to the hard work of the people of Vanuatu and the help of the international community, Vanuatu has achieved much. In my view, this charming island nation is bound to get better and better. Just as the late founding father of Vanuatu, Walter Lini, foresaw, Vanuatu "has taken its place among the nations of the world" and "the future is full of light."
In March of this year, I visited the island of Santo. The beautiful Champagne Beach, the rows of neat palm plantations and coconut groves, the fertile farmland, and the developed livestock industry all left a deep impression on me. I believe that the potential for Vanuatu's economic development is concentrated in three areas. First, tourism. Beautiful Port Vila, the magnificent Mount Yasur volcano, and the Melanesian style of outer islands such as Santo are attracting more and more international tourists. Second, agriculture and animal husbandry. Abundant rainfall, fertile land, and lush pastures provide unique conditions for the growth of crops and the development of animal husbandry. Third, fisheries. Vanuatu's 820,000 square kilometers of maritime territory are rich in deep-sea fish such as tuna. Developing deep-sea fishing and near-shore aquaculture will surely bring more income and well-being to the government and the people. I believe that while fully considering marine environment and resource protection, through the construction of stronger infrastructure, tourism facilities, and environmental protection facilities, and by fully developing and utilizing these precious resources, Vanuatu's economic and social development will certainly have a bright future.
China and Vanuatu are both developing countries. We are willing to work with the government and people of Vanuatu to strengthen exchanges and cooperation in all fields on the basis of mutual respect and equality and mutual benefit, continue to provide assistance within our capacity, promote the continuous development of China-Vanuatu relations, and make China-Vanuatu cooperation a model for South-South cooperation in the South Pacific region.