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Agencies | Updated:2014-09-05 06:47Zimbabwes President Robert Mugabe (L) and his Chinese counterpart Xi Jinping shake hands during a signing ceremony at the Great Hall of the People in Beijing, Aug 25, 2014. [Photo/Agencies]
Agreements help economy of ZimbabweHARARE – China will help Zimbabwe build special economic zones and industrial parks to jump-start exports and a struggling economy, its ambassador to Harare said on Thursday as a Chinese firm started expanding the countrys largest hydro-power plant.The pledge by Beijings top envoy to Zimbabwe, Lin Lin, comes days after 90-year-old President Robert Mugabe returned from a trip to China during which he sought financial help and investment from the worlds number two economy.Lin told Mugabe during a ceremony to mark the start of work to expand Kariba hydropower station, 400 km (250 miles) northwest of Harare, that Beijing was ready to deepen bilateral relations.Investors in the zones will benefit from special tax breaks and officials said they would not have to comply with black economic empowerment laws that force foreign companies to sell majority shares to black Zimbabweans.”China is ready to take part in the construction of Zimbabwes special economic zones and industrial parks, lead the cooperation in infrastructure construction, mining industry, manufacturing industry and other fields and encourage more Chinese companies to invest in Zimbabwe,” Lin said.Shunned by Western countries since 2000 over charges of human rights abuses and election rigging, Mugabe has increasingly embraced a “Look East” policy.However, during Wednesdays session of parliament, finance minister Patrick Chinamasa dismissed suggestions Mugabe had gone to Beijing to beg for loans backed up by promises of shares in future mineral resources.In January Chinas Exim Bank agreed to lend Zimbabwe $319 million to add 300 MW to Kariba hydropower plant, an upgrade that is expected to ease daily power shortages in the southern African country.Related StoriesChinese premier vows support for Zimbabwe, AfricaAgreements help economy of ZimbabweA dream to build a new ZimbabweChinese company funds cement plant upgrade in ZimbabweZimbabwe adds Chinas yuan to currency basketMugabe wins Zimbabwe presidential electionChina Eximbank lends Zimbabwe $319m for hydro-power plantPhotoUNs top environmental honors go to three in ChinaGerman trains collide near Duesseldorf, several people injuredLiu heralds UK partnership in education and researchEfforts needed for sustainable projects1st Panda cub born in France named Yuan MengFree trade studies agreed on as Li meets with Canadian PM TrudeauMost Viewed in 24 HoursExclusiveAfricans in China portray their own stories in filmFamily of Chinese man killed in US relives memoriesChinese elements in western mainstream mediaWeekly PhotoThe world in photos: Nov 27-Dec 3NewsmakerLiu heralds UK partnership in education and researchSquash a perfect match for girl refugees in JordanSpecialPresident Xi attends APEC meetingUS President Donald Trump visits ChinaReporters JournalNew platforms build medical bridgesGentrification, segregation cause for concern in growing DCChina-JapanLi tells Japanese business leaders its time for bilateral cooperationChina-USChinese music finds new foothold in United StatesChina-EuropeLiu heralds UK partnership in education and researchChina-AfricaAction urged over pollutionBACK TO THE TOPHOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELWATCHTHISSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperMOBILECopyright 1995 -var oTime = new Date();
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