EARLY last year, President Ferdinand "Bongbong" Marcos Jr. made a three-day state visit to the People's Republic of China. Upon returning, BBM announced he was able to secure investment pledges in the amount of $22.8 billion, broken down as follows: $13.76 billion for renewable energy, $7.32 billion for electric vehicles and mineral processing, and $1.72 billion for agriculture, according to a Nikkei Asia report, citing figures from Marcos' office.

During the visit, BBM also invited Chinese President Xi Jinping to visit the Philippines.

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