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Strategies & Market Trends : China Warehouse- More Than Crockery
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To: RealMuLan who wrote (4261)1/27/2005 7:06:44 PM
From: RealMuLan  Read Replies (1) of 6370
 
Japan Considers Ending Some China Development Aid, Nikkei Says
Jan. 28 (Bloomberg) -- Japan is considering phasing out yen- denominated loans it provides to China as soon as fiscal 2008, Nikkei English News reported, without citing anyone.

The yen loans constitute about 90 percent of Japan's official development assistance to China, Nikkei said. Japan has already reduced its development assistance to China to 108 billion yen ($1.05 billion) in fiscal 2003 from a peak of 227.3 billion yen in fiscal 2000.

The 2008 phaseout would coincide with the Beijing Olympic games, Nikkei said. It quoted an unidentified senior Foreign Ministry official as saying the Games would show the world that China was no longer a developing country, making the end of development aid appropriate.

Japanese yen loans to China were 96.7 billion yen in fiscal 2003, and the government is considering lowering them to 80 billion to 90 billion yen this fiscal year, Nikkei said.

bloomberg.com
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