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As death tolls from the coronavirus continue to surge across Europe, countries are steeling themselves for extended lockdown.
As countries battle the disease in light of their own situations, China calls for mutual understanding and respect for these efforts, and sharing and learning from each other's experience.
As he put it, reform has set China on a rapid course of development. Penaranda mentioned China's progress in e-commerce, mobile payments and the pioneering high-speed railways in particular. All these have changed people's lives at home and also impacted those in the close vicinity of China, such as the Philippines, he said.
As calculated by FTSE Russell, China is now the world's second largest bond market with about trillion securities outstanding.
As for the second phase, he said that his ministry is going to submit it for cabinet approval next year and will try to complete the railway in 2023 as well to connect it with the China-Laos railway in time.
