No debt trap for developing nations: China

China's foreign ministry vows no developing country will fall into a debt trap simply because of its co-operation with Beijing.

China's foreign ministry says that no developing country will fall into a debt trap simply because of its co-operation with Beijing.

Chinese Foreign Ministry spokeswoman Hua Chunying made the comment in an online statement responding to remarks made by US Vice President Mike Pence.

"No developing country will fall into debt difficulties because of cooperation with China," Hua said.

"On the contrary, co-operating with China helps these countries raise independent development capabilities and levels, and improves the lives of the local people."

Speaking at the Asia Pacific Economic Co-operation (APEC) summit, Pence took aim at China's Belt and Road initiative, saying countries should not accept debt that compromised their sovereignty.


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Source: AAP



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