China, African trade hits $170b yearly
News & Trends •
source63 chinas bilateral cooperation with africa has grown phenomenally in the past 40 years with trade leaping from 765 million to 170 billion a year1 the minister said this has therefore made china africas largest trading partner during the last few decades1 in the same period chinese investment in africa reached a cumulative 110 billion1 chen said africas debt to her country is economically sustainable and should be no cause for alarm1 chinas deputy foreign minister chen xiaodong said the growth was on the basis of interlocking interests since 19781 china is attentive to the situation in africa and seeks to help the continent to contain the risks of debt and relieve the pressure of payment the minister pointed out1 the minister said that beijing also encourages companies in her country to do more investments as well as to explore new models such as public-private partnerships1 china the official said understands the importance of debt sustainability in africa thereby helping the continent to improve its investment environment1 chinas investments on the continent range from zambian power plants egyptian trade deals cobalt mines in congo rail links in east africa and infrastructure in equatorial guinea1 chen made the announcement in beijing on wednesday at the opening session of the 7th forum of the china-africa expert committee1