Global finance: why China is likely to help PNG refinancing?

Papua New Guinea has asked China to refinance its entire government debt of $11.8 billion. Ivan invited Dr. Wei Li from Sydney University Business school to give us a better understanding of how this refinance process works, and why does this move being so significant for China in the Asia-pacify region, and why does it matter to Australia?

Hela is in Papua New Guinea's southern highlands region. Source: The Lowy Institute.