Silicon Valley Minute

China maintained large commercial relations with Libya’s Qaddafi. The rebels threatened to cancel projects if they continued supporting the dictator. Beijing has investments in the country amounting to $ 18 billion. The Chinese Government acknowledged this Wednesday finally that the regime of Colonel Muamar Gaddafi, that maintained intense business relations, is near the end, expressing his hope that the North African country carried out a successful political transition.China pays attention to serious changes in the situation in Libya and respects the choice made by the Libyan people, said in a statement the Ministry of Foreign Affairs spokesman Ma Zhaoxu Chinese at the same time, the spokesman of the Chinese Ministry of Commerce, Shen Danyang, pointed out that China wants to play a positive role in the reconstruction of the Libya future alongside the international community.We expect Libya to regain stability soon and that China develop trade cooperation in all the aspects, Shen stressed at a press conference. The Chinese Government maintained good relations with the Gaddafi regime, especially in the oil sector, and fears that the likely arrival of rebels to power harms him. The concerns arose as a result of that, this week, Libyan insurgents will ensure that they nullify Russian and Chinese projects in crude oil from Libya for not having supported these two Governments rebellion against the 40 years of dictatorship of Gaddafi. China has investments in Libya worth $ 18 billion, projects in which they worked 35,000 Chinese before being evacuated at the start of the civil conflict in February. The Asian giant, a permanent member of the UN Security Council, not only abstained in the vote that in March approved a zone of aerial exclusion in Libya but condemned the subsequent bombings against the Gaddafi regime. However, most months later admitted the rebels as a valid interlocutor in relations with Libya, and even invited in June to his leader, Mahmud Jibril, whom Chinese, Yang Jiechi was received by the Minister of Foreign Affairs. On Monday, the Embassy of Libya in Beijing changed the traditional green flag tied to the Gaddafi regime by the tricolor of Libyan rebels. Source of the news: Gaddafi loses a historic ally, China: “We respect the choice of the Libyan people”