Chinese Defence Ministry denies Indian media claims of $20 billion loan to India

Chinese Defence Ministry denies Indian media claims of $20 billion loan to India
China's defense ministry denied Thursday that it has been providing India with soft loans.

"We have inquired with the department in charge of providing loans, and concluded that the report is false," Colonel Ren Guoqiang, spokesman of China's Ministry of National Defense, said on Thursday at a press briefing.

Following India's withdrawal of its troops from the Chinese territory of Doklam on Monday, rumors about the reason behind the end of the border standoff have been circulating on the Internet.

An India media outlet called "Press Trust of Hindustan" reported that India agreed to withdraw its personnel and equipment from the site of the standoff in exchange for a $20 billion soft loan for infrastructure construction in India, the report said.

"Doklam is the inherent territory of China … the Chinese army will defend every inch of land," Ren said.

Meanwhile, Ren said China has urged India to abide by the agreement, constrain its border troops and maintain regional peace and stability.

"Since the Doklam incident, the Chinese army has been closely monitoring the situation, and is upholding its duty to defend the country and peace, and remains prepared for a military confrontation," Ren noted.

He said that "we have taken emergency measures, enhanced management and control over the border area and strengthened training."

"We have firmly maintained the country's territorial sovereignty and legitimate rights, and negotiated with the Indian military through military diplomacy and border contact channels, which played a key role in properly resolving the Doklam incident," he said. 

China confirmed Monday that India has removed troops from the Chinese territory of Doklam, and China will continue to exercise its sovereignty over the area.

Global Times

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