China is expected to announce a new package of assistance to Zimbabwe in a few days time and Afreximbank is expected to announce measures to help ease the liquidity crunch in Zimbabwe.

Addressing a media briefing at the Chinese embassy in Harare this Friday afternoon, Chinese Deputy Ambassador to Zimbabwe Mr Zhao Baogang said the Chinese President Xi Jinping will hold bilateral talks with his Zimbabwean counterpart President Emmerson Mnangagwa this coming week where China is expected to announce a new assistance package for Zimbabwe.

“A Chinese commercial bank and Afreximbank are holding discussions to find ways of easing the liquidity crisis facing Zimbabwe and measures to be implemented are expected to be announced during President Mnangagwa’s state visit to China,” said Mr Zhao.

President Mnangagwa’s itinerary in China will include signing of Bi-National Cooperation Agreements with his Chinese counterpart, attending a business promotion meeting, visits to various Chinese companies and discussions with the Communist Party of China.

Deputy Ambassador Zhao also said the Chinese government is forging ahead with a number of projects that it has undertaken to fund like the new parliament building, a pharmaceutical warehouse and the airport expansion project among others.

Ambassador Zhao also dispelled misconceptions that the company that supplied biometric voter registration kits, Laxton Group is a Chinese company but rather a South African entity.

He said the Chinese government supports Zimbabwe’s efforts to hold free and fair elections, but are disturbed by attempts advanced by some quarters to undermine the relations of the two friendly nations.

A number of Chinese nationals were mentioned on the list of externalisers and Ambassador Zhao said the embassy has since engaged the government because most of the Chinese nationals and companies were erroneously mentioned because the purported externalised funds are in actual fact remittances that are above board.