Mongolian Vice Prime Minister Dorgig submitted a letter to Mu Guoxing through Mongolia's ambassador to China. In the letter, Dorgig actually asked China to urgently provide Mongolia with a long-term low-interest loan of 5 billion US dollars. One country borrowed money from another country. Not only did it not send people to negotiate, but it adopted an extremely impolite way of "requesting". Apart from Mongolia, there is probably no other country that can do this.

At the joint meeting of the Ministry of Foreign Affairs, Ministry of Finance, and Ministry of Foreign Trade and Economic Affairs, Mu Guoxing listened to the main leaders of these three ministries and commissions and their replies to Mongolia's request for loans.

According to the report of the Ministry of Finance, the impact of the international financial crisis on Mongolia's economy is becoming increasingly apparent, and Mongolian enterprise investment and economic growth have had a negative impact. On the one hand, the decline in copper prices has reduced national income. On the other hand, the country's economic growth has slowed down, resulting in a decrease in foreign investment and the government's investment in the social field is also decreasing. According to Mongolia media reports, some enterprises such as Mongolia Railway Bureau have begun to lay off employees, and some migrant workers in South Korea, Czech Republic and other countries have also returned to China one after another, which has further increased the employment pressure in Mongolia. Although the Mongolian government has formulated a rescue plan and obtained approval from the Dahular Conference, the source of funds has not yet been implemented. In other words, what Mongolia has passed is whether the plan can be implemented, and finally depends on whether they can obtain loans from China.

Since the end of last year, the Mongolian government has sought financial support from all parties through various forms. On the one hand, it hopes to obtain US$5 billion in loans from China and obtain loans and aid from international financial institutions such as the International Monetary Fund; on the other hand, it hopes that companies that mine copper and gold mines such as Oyutauri can advance part of the tax. At present, the Mongolian government has reached a preliminary agreement with Canada Ivanhoe, which owns the mine's rights, that is, the company advances US$125 million in taxes to the Mongolian government. In addition, the government is also considering issuing 300 billion Tugrik's

Domestic bonds and $1.2 billion of international bonds. Analysts believe that if the Mongolian government's rescue plan can be implemented as soon as possible, it will not only solve the difficulties caused by the international financial crisis to the country's economy, but also help the Mongolian economy get out of the predicament as soon as possible, achieve the goal of reducing the government's fiscal deficit and maintain the goal of continuing economic growth, but also accelerate the development of strategic mines, drive the economic development of mining areas, and lay the foundation for sustainable economic development. However, since the rescue funds have not been implemented, when will the plan be implemented and how the effect will be achieved after implementation remains to be further observed.

Mongolia asked China to use $5 billion in loans like them to mainly use two aspects, of which $2 billion is to stabilize its banking system, and another $3 billion is to use road construction, industrial and agricultural projects to expand trade with China.

Minister of Finance Hua Qiang finally said: "Realistically speaking, Mongolia should ask for assistance from all countries and regions that have trade relations with it to expand trade with relevant countries. But from what we have seen, Mongolia has only made demands to China in addition to consulting with the International Monetary Fund, which is extremely abnormal."

It can be heard that Huaqiang is also very dissatisfied with Mongolia's approach. It is no wonder that any country should not give out any practical benefits when seeking help from foreign countries. Mongolia's current approach is like a poor man who insists on pretending to be arrogant when borrowing money from the rich. Naturally, the rich will not be happy.

Mu Guoxing is still very clear about the economic situation of Mongolia. Mongolia is an inland country, and its main sources of economic resources are mineral product exports and animal husbandry. Since the outbreak of the financial crisis, the prices of mineral products have dropped sharply, causing the income of Mongolia, which relies on exports of copper, molybdenum, zinc and other mineral products to earn foreign exchange, and the Mongolian currency Tugrik continued to depreciate significantly.

Even Legelma, director of the Foreign Exchange Department of Mongolian Bank, has to admit that this year's foreign exchange transaction volume has indeed decreased a lot compared with the same period last year, which is related to factors such as the decline in copper prices of Mongolian export products and the decrease in foreign exchange remittances by Mongolians working abroad. In addition, some real estate companies, private schools and kindergartens require customers to settle in US dollars, which has also exacerbated the appreciation of foreign currencies such as the US dollar. At present, Mongolian Bank has a total of US$645 million in reserves, which can only meet the import demand for 3 months.

In addition, Mongolia's total GDP is very small, only more than 3 billion US dollars. If China really lends them 5 billion US dollars, even if they take out 20% of the total GDP every year to repay their debts, they will have to pay it back for seventy years. This is no longer a loan, but a request for China to give it away for free. It really treats China as an ATM.

Minister of Foreign Trade and Economic Affairs Chen Kaixi continued: "In the past decade, many private enterprises have come to Mongolia to invest and develop mineral resources, but have received a lot of unfair treatment. The Mongolian senior executives are also very unfriendly to China. According to Kyodo News, the president of the Japanese Liberal Democratic Party, the "Japan-Mongolia Friendship Promotion Members' Alliance" of Japan, which has just ended its visit to Mongolia, revealed that Mongolian President Eleberg is planning to re-examine the development plan of Taben Taulegee coal mine."

"The Taben Taulegee Coal Mine, located in the southern Gobi Desert in Mongolia, is said to be the largest coal mine in the world, with initially proven reserves of up to 6.4 billion tons. According to a plan announced by the Mongolian government last year, Huaxia Xianhua Group will acquire 40% of the equity of the project and become the largest shareholder. However, after the Ministry of Armed Forces visited Mongolia, Mongolian President Eleberg actually publicly stated that the original development plan was not supported by the nationals and the president could not support it. This development plan was originally scheduled to be submitted to the Mongolian Parliament for deliberation in early July this year. Eleberg's speech means that the original development plan will change, and Xianhua Group's status as the largest shareholder of the project may be affected."

Speaking of this, Chen Kaixi looked at Mu Guoxing's face carefully, and then said: "There is another coal mine in Mongolia called Gel Zillege, which is currently one of the largest unearthed coking coal mines in the world. It is only 270 kilometers away from the border of China. Preliminary exploration shows that the coal reserves in the mine are as high as 6.7 billion tons, of which a quarter of the reserves are high-grade coking coal, and the remaining part is thermal coal with extremely high calorific value, with extremely broad commercial development prospects. For this large coal mine, the Ministry of Foreign Trade and Trade has also done a lot of work and wants to jointly develop with Mongolia, but it is because of the obstruction of the Mongolian high-level leaders that it has not been able to negotiate for five years."

Speaking of this, Chen Kaixi was a little excited. After taking a few deep breaths, he continued: "The Mongolians' views on foreigners are very obvious and strong. They have a very good impression of Russia. In their consciousness, only Russia is their backer, so Russia can do whatever it wants in them, and no one dares to take care of it. It is not so lucky for China. They always think that China is an invader, and come to them to plunder resources and build shopping malls to plunder their money. Therefore, they are very unfriendly to Chinese people, often do damage, and sometimes even deliberately find trouble to beat Chinese people."

"According to some companies investing in Mongolia, Chinese people were still very powerful there in the past few years. They were very united when they went out and they were very united. Mongolians dared not provoke them easily. But in the end, our embassy in Mongolia not only did not support the unity of Chinese people, but instead severely warned Chinese companies not to cause trouble. Since then, Chinese companies have been bullied, and Chinese people's lives and property have not been protected. No one cared about them when they went to our embassy and consulate."

Mu Guoxing looked at Foreign Minister Wei Anguo intentionally or unintentionally. His actions made Wei Anguo's heart thump. He, who is the minister, did not understand the situation in this regard. Mongolia's affairs were under the jurisdiction of Vice Minister Han Guangtao. Who knows why Han Guangtao instructed the embassy and consulate in Mongolia to adopt such a negative attitude?

Chen Kaixi continued: "Due to the extremely unfriendly attitude of the Mongolian government towards China, our enterprises have suffered huge losses. Take Xianhua Group as an example. Due to the obstruction of Mongolia's senior management, there has been a variable in the 40% equity of the western block of Taben Tauregee Coalfield in Mongolia, causing its stock price to fall sharply, hitting a new low since March. So far, Xianhua's stock price has fallen by nearly 20%, and its market value has evaporated by nearly 50 billion yuan."

Thank you for your reward.
Chapter completed!