China visit helps Duterte reap funding deals worth $24b

Philippine President Rodrigo Duterte will bring home $24-billion worth of funding and investment pledges from his four-day visit to China as both nations agreed to resume talks and explore areas of cooperation in the South China Sea. China will provide $9-billion in soft loans, including a $3-billion credit line with the Bank of China, while economic deals including investments would yield $15-billion, Trade Secretary Ramon Lopez told reporters in Beijing on Friday. Preliminary agreements in railways, ports, energy and mining worth $11.2-billion were signed between Philippine and Chinese firms.