China is ready to work with Tanzania and Zambia to jointly promote the revitalization of the Tanzania-Zambia Railway (TAZARA) and the building of the TAZARA Railway prosperity belt, Foreign Ministry spokesman Lin Jian said at a press briefing in Beijing on Tuesday.
Lin made the statement when asked to comment on the 50th anniversary of the opening of the railway.
"More than 50 years ago, despite facing severe economic difficulties of its own, China resolutely decided to assist in the construction of the Tanzania-Zambia Railway, thereby providing strong support for the national liberation and development efforts of the countries in the region. During the construction of the railway, the peoples of China, Tanzania, and Zambia worked hand in hand and shoulder to shoulder, jointly forging the great spirit of the Tanzania-Zambia Railway and leaving a precious spiritual legacy for the future generations," he said.
"In September 2024, President Xi Jinping, together with Tanzanian President Samia Suluhu Hassan and Zambian President Hakainde Hichilema, witnessed the signing of a memorandum of understanding on the revitalization project of the Tanzania-Zambia Railway Authority railway, marking a new historical milestone for the railway. In November 2025, during his visit to Zambia, Premier Li Qiang, together with Zambian President Hichilema and Tanzanian Vice President Emmanuel Nchimbi, attended the groundbreaking ceremony of the TAZARA revitalization project. The governments of the three countries jointly issued a joint statement on jointly building the TAZARA Railway prosperity belt," said Lin.
"Standing at this new historical starting point, China is willing to work with both Tanzania and Zambia to effectively advance the revitalization project and the prosperity belt, jointly building a path of freedom, development, friendship, happiness, green development, and harmony. This will help the three countries and other nations in the region jointly advance modernization and inject new and inexhaustible momentum into the building of an all-weather China-Africa community with a shared future in the new era," said the spokesman.
China to work with Tanzania, Zambia to revitalize Tanzania-Zambia Railway: spokesman
China to work with Tanzania, Zambia to revitalize Tanzania-Zambia Railway: spokesman
China's financial aggregates grew at a reasonable pace and the financial system provided stable support for the real economy in the first half of this year, according to the latest official data released by the central bank on Wednesday.
People's Bank of China (PBOC) data show that at the end of June, the balance of the broad money supply (M2) grew by 8 percent year over year, continuing to exceed that of nominal GDP (gross domestic product).
In the first half of the year, new Chinese yuan loans totaled 10.72 trillion yuan (about 1.58 trillion U.S. dollars) and new bond financing amounted to 8.51 trillion yuan (about 1.26 trillion U.S. dollars). The share of bond financing increased and the financial system's support for the real economy remained solid in the first six months.
While aggregate financing volume increased, more credit funds flowed into key areas and weak links such as sci-tech innovation and small and micro enterprises in the first half of the year.
As of the end of June, the outstanding balance of inclusive loans to small and micro enterprises grew by 8.3 percent year on year, and the outstanding balance of medium- and long-term loans to the industrial sector rose by 5.9 percent -- both exceeding the growth rate of total loans.
The overall social financing cost was at a historically low level in the six-month period.
In June, the average interest rate on newly issued corporate loans was around 3.0 percent, about 20 basis points lower than the same period of the previous year. The interest rate for newly issued personal housing loans was about 3.1 percent, basically on a par with that of the same period last year.
The Chinese exchange rate remained stable with an upward trend in the first half of the year. The Chinese yuan had appreciated by 4.7 percent against a basket of foreign currencies by the end of June and by 3 percent against the U.S. dollar compared to the end of last year. "Overall, major macro financial indicators reflecting the operation of the financial sector fully demonstrate the status of the appropriately accommodative monetary policy. The social financing conditions are relatively accommodative, while the quality and efficiency of financial services for the real economy are constantly improving," said Zou Lan, deputy governor of PBOC.
China's financial aggregates grow at reasonable pace in Jan-June
