Aquino: China trip a success
September 5, 2011
PRESIDENT Benigno Aquino III described his first state visit to the People’s Republic of China a “success” bringing home billions worth of investment in the country.
Upon his arrival Saturday night, the President announced about $13 billion worth of actual and possible investments of Chinese corporations to the Philippines.
With the $13 billion, Aquino said $1.3 of it are sure investments, $3.8 are “almost certain” while $7.9 are possible investments.
During his five-day visit in China, the President and his official delegation met with about 36 Chinese business and has spoken before several Chinese investors to encourage them to invest in the country.
He reiterated that the country is “open for business” and vowed to eliminate red tape and corruption in the administration.
The President said the outcome of his trip has exceeded his expectations.
He noted the substantive portion of the ASEAN (Association of Southeast Asian Nations) China Fund that has been set aside for the Philippines.
The ASEAN China Investment Fund is a private equity fund that provides capital for small and medium sized enterprises located within ASEAN and China.
The Swiss Government, the Asian Development Bank and United Overseas Bank are among the sponsors/investors of this fund.
“I was suprised with the substantive amount the Asean-China Fund set aside for the Philippines,” the President said.
He surmised that the keepers of the fund had found favorable the various programs the government has been implementing with the help of the local and international community to uplift the lives of Filipinos.
“If we could show them that the investment they made were worthwhile, i think next time they will increase endowment,” he stressed.
He refused to give an estimate of how much the ASEAN China Fund would give to the Philippines but said it would more than 10 percent of the fund which has already reached $1-billion.
While in China, the President was able to reconnect with his roots when he went to Xiamen Saturday morning before he returned to the country.
He visited the hometown of his ancestors in Honjian village, located in the township of Jiaomel, Longhai City, Zhangzhou municipality, Fujian province.
The President’s late mother, former President Corazon Cojuangco Aquino is a fourth-generation Filipino-Chinese descended from Co Yu Hwan, a Chinese immigrant from Hongjian village who settled in the Philippines in 1861.
According to a fact sheet released by the Philippine Embassy in China, Co (the Chinese character for his surname is read as “Xu” in the national language Mandarin, while “Co” or “Kho” is the way the same character is pronounced in the southern Fujian dialect or Minnan Hua also known as Hokkien) converted to Roman Catholicism in the Philippines and was then baptized as Jose Cojuangco, the surname Cojuangco being an amalgamation of his Chinese Hokien name, Co Yu Hwan.
It added that Jose’s son Melecio Cojuangco (born in 1871) married another Filipino-Chinese named Tiakla Chico in 1894 and among their children was Jose Cojuangco, Jr., father to Aquino’s late mother Cory.
Hongjian is a sleepy village and home to about 1,700 residents with the surname Xu or Co. It is less than half an hour’s drive from the bustling metropolis of the island of Xiamen.
The President together with the members of the official delegation, led the lighting of incense at the ancestral temple of the Xu (Co) clan.
He also viewed the photo exhibit of his late mother’s visit to Hongjian village and view the araucaria tree planted by President Cory Aquino in 1988.
It can be recalled that in 1988 when President Cory Aquino visited the Hongjian village, she planted an araucaria tree (a genus of coniferous evergreen) to commemorate her historical visit there. She also lighted incense at the altar of the Ancestral Temple of the Xu (Co) clan.
President Aquino also planted a tree about 50 meters away from the spot where President Cory planted the araucaria tree.
Source: http://www.sunstar.com.ph/manila/local-news/2011/09/04/aquino-china-trip-success-177270
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