China's package to finance development

As part of the package of measures, banks in the mainland and Macau will set up a US$1 billion development fund to promote financial co-operation. The majority of the money will come from the mainland.

Among the initiatives that Beijing will spearhead are the following:

Separately, low-interest loans of up to 1.6 billion yuan (HK$1.87) to the poorer, Asian and African members of the Portuguese-speaking (lusophone) countries.

Assistance on technology, manpower and resources in bilateral agricultural programmes.

Training for 1,500 officials and technicians from the Asian and African members of the lusophone countries.

Support for Macau in setting up a training centre to train technicians and officials of lusophone countries.