Chancay Port to boost local economy, tourism: Peruvian official

China

Chancay Port to boost local economy, tourism: Peruvian official

2024-11-17 23:01 Last Updated At：11-18 15:17

China's investment in Peru's Chancay Megaport marks a new milestone in the growing China-Peru friendship and is expected to boost local tourism and economy, according to Peruvian Vice Minister of Tourism Madeleine Burns Vidaurrazaga.

Located 80 kilometers north of Lima, the Chancay Port will reduce sea freight time from Peru to Asia from 45 days to just 23. With shorter transit times and lower logistics costs, companies like Warmpaca will be able to deliver popular Peruvian products, such as its famous alpaca dolls, to Chinese customers much faster.

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Chancay Port to boost local economy, tourism: Peruvian official

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Chancay Port to boost local economy, tourism: Peruvian official

In an interview with China Global Television Network (CGTN) at a Chinese Park, the vice minister emphasized the significance of this new port, calling it an important tourist resource and a symbol of the enduring friendship between China and Peru.

"For us, it's very important. It's a new resource, tourist resource made from the Chinese community here in Peru and reminds us of how long the Chinese people are in Peru helping to develop our economy. Now we have a new, a big new Inca Trail, which is Chancay to Shanghai," said Vidaurrazaga.

Regarding the Chancay Port, the vice minister highlighted the environment-friendly initiatives surrounding the project, which aim to protect local wildlife populations.

"We are really surprised when visiting Chancay Port. Everything is technology in that port. But it is very important that they really care about environmental issues, inclusive issues. Even we are working together for a new tourism plan for Chancay Port, because a lot of people will visit Chancay. It's very near to Lima, but also they have a wonderful gastronomy and a special place like Caral that is more than 5,000 years before Christ. So it's very ancient. So it's the first city in the world created for commercial things, not for a war, not for protection, just for commercial market. So it is very important," said Vidaurrazaga.

Looking ahead, Vidaurrazaga believes the Chancay Port will foster the development of Peru, both in terms of investment and tourism.

"Chancay Port also will increase the movement between China and Peru. And now we are looking for more tourism. We notice the investment of China in Peru is growing. So even in the schools, the young people are interested to learn mandarin, because Peru has a very open economy too, we sign agreements with 122 countries, and we are open to the world economy. So this is a new way as the president of China said, this is a new global way to exchange our customs, our goods, to make friendship with all the countries," said Vidaurrazaga.

China to continue implementing more proactive, effective macro policies to drive economic growth in 2026: official

China will continue to implement a series of more proactive and effective macro policies in 2026 to keep driving the country's economic development, said one of the drafters of the government work report, which was submitted Thursday to the country's top legislature for deliberation.

Chen Changsheng, also deputy director of the Development Research Center of the State Council, made the remarks at a press conference held in Beijing on Thursday.

Chen said one of the reasons for continuing implementing more proactive and effective macro policies is to respond to the external environment.

In 2026, China is facing significant uncertainty both at home and abroad, and the country is also confronting strong supply and weak demand, with a gap in its aggregate demand remaining, he said.

Chen said it is necessary for the country to step up policy adjustment and use the certainty of macro policies to offset the uncertainty.

"Compared with other countries around the world, China's overall government debt ratio, particularly that of the central government, remains relatively low. There is still room for cuts in required reserve ratios and interest rates. Besides, there is also room for innovation in the policy mix. At the same time, continuing these policies also aims to send a signal to the society of continuing regulation through macro policies," said Chen.

Chen said China's macro policies will be implemented with greater intensity and wider scope in 2026.

"The deficit-to-GDP ratio remains at 4 percent, a relatively high level in history. The net increase in the deficit stands at 230 billion yuan (over 33 billion U.S. dollars). The scale of newly added government debt comes in at 11.89 trillion yuan, also a record high. Additionally, this year's general budget is expected to exceed 30 trillion yuan. More importantly, its net increase will reach 1.27 trillion yuan. All these demonstrate the stability of our macro and fiscal policies. Similarly, monetary policy will continue to be appropriately accommodative. Besides, we will flexibly employ policies such as cuts to required reserve ratios and interest rates to ensure ample liquidity. We will also implement policies such as policy-based monetary and financial tools with greater intensity and wider scope, with an aim to reduce financing costs across the whole society and support the real economy," said Chen.

The macro policies will also be more targeted and effective, he said.

"In terms of fiscal policy, special emphasis has been placed on deepening zero-based budgeting reforms, with the inefficiently and poorly used funds to be reallocated to more effective areas. The reform had been implemented for a period of time last year and had achieved some results. This year, efforts will be intensified. Additionally, we will further optimize the expenditure structure and make better use of existing funds to boost consumption, invest in people, and increase spending in people's wellbeing. Structural monetary policies will be improved to support small and medium-sized enterprises (SMEs), tech enterprises, and the expansion of domestic demand," said Chen.