P.M. BRIEFING : France to Restore China Credit
France will restore official lines of credit for French-managed projects in China broken off last year after the crackdown on pro-democracy demonstrators, an official said today.
An Economics Ministry official said a protocol signed last week by China and France will free loans of $260 million to finance telecommunications and water treatment projects.
The official said France’s move is in accordance with a decision taken by the 12-nation European Community in November to normalize economic relations with Communist China.
The funds will be the first official transfer from France to China since the Beijing government ordered the harsh crackdown on pro-democracy activists June 4, 1989, at Tian An Men Square.
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