Xi and African nation's president oversee signing of preferential loan agreements

Chinese President Xi Jinping (2nd R) and his wife Peng Liyuan (1st R) pose for photos with President of the Republic of Gabon Ali Bongo Ondimba (2nd L) and his wife before Xi holds talks with Ali Bongo in Beijing, capital of China, Dec 7, 2016. [Photo/Xinhua]

China agreed on Wednesday to provide preferential loans to Gabon to support the African country's infrastructure projects.

President Xi Jinping and Gabonese President Ali Bongo Ondimba oversaw the Beijing signing ceremony of four bilateral cooperative documents, two of them including preferential loans.

China would provide preferential loans for a perimeter highway project to be built around Libreville, capital of Gabon, under one agreement. The 11-kilometer road, to be completed by the China Road and Bridge Corp, will be a key link between the new and old downtown areas of the city.

Zhang Ming, vice-foreign minister, told China Daily after the signing ceremony that the two agreements on loans mean China will provide major financial support to Gabon's infrastructure projects.

During the talks with Bongo, Xi said that China supports Gabon's efforts to speed up the country's industrialization and convert the country's resources advantages into development results.

China encourages domestic companies to take an active part in infrastructure projects in Gabon, Xi said, adding that China hopes to support Gabon's development of industries such as tourism, finance and telecommunications.

Xi told Bongo that he was impressed by the African leader surpassing his father's record for visiting China. His father, Omar Bongo Ondimba, former Gabonese president, visited China 11 times from 1974 to 2009.

Bongo is paying his 12th visit to China from Tuesday to Friday. Apart from Beijing, he will also visit Shantou in Guangdong province.