The administration is really serious about attracting Chinese money.
The government has definitely cozied up to China as a source of funding, so much that authorities are planning an even grander renminbi (or yuan) borrowing program
After Chinese President Xi Jinping’s historic visit to Manila, Finance Secretary Carlos Dominguez III revealed that the Philippines is eyeing to borrow RMB 6 billion from Beijing by floating several tranches of panda bonds.
This is on top of the RMB 1.46 billion raised last March, as well as the loan agreements signed via official development assistance.
