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China-Africa ties help both sides develop
Source: Xinhua |
January 10, 2012, Tuesday
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THE China-Africa strategic partnership continues to develop rapidly in the second decade of the century with frequent high-level visits and the expansion of political, economic, and cultural cooperation.
China has become the largest trading partner of Africa and Africa stands as China's fourth largest investment destination. According to latest data from the Chinese Ministry of Commerce, China-Africa trade volume reached US$122.2 billion in the first three quarters of this year, reaching year-on-year growth of 30 percent. Trade volume reached US$26.9 billion last year, and is expected to reach US$150-160 billion this year.
Meanwhile, China's non-financial direct investment to Africa totaled US$1.08 billion, a year-on-year growth of 87 percent. New construction contracts in Africa signed by Chinese companies reached US$25.2 billion, with a turnover of US$23.7 billion.
A wide range of Chinese goods suit various consumption levels in the African market and meet daily life and production needs. At the same time, coffee, diamonds, handicrafts and distinctive African products are favored by Chinese consumers.
China-Africa cooperation projects can be seen in almost every African country, covering agriculture, mining, manufacturing, infrastructure, trade flows and other areas. In 2011, Sino-Africa cooperation gained momentum in financial, telecommunications, tourism, shipping and other industries.
Weak infrastructure
A number of Chinese financial institutions have started business in Africa and airlines from China and many African countries have launched direct flights.
Development is the most pressing issue facing Africa, but weak infrastructure is creating a bottleneck for development. Therefore, infrastructure is a major focus of China-Africa cooperation. In 2011, China built infrastructure projects in many countries, such as roads, railways, bridges, ports, hospitals, communications and electric power; many are operational today.
The projects have not only improved the living standards and quality of life, but also provided local employment, improved skills of African professionals and promoted related industries.
While deepening political trust and expanding economic and trade cooperation in 2011, China and African countries also cooperated in the humanities, science and technology, healthcare and other areas.
The First China-Africa Youth Leaders Forum was held in Windhoek, Namibia, in May; the First China-Africa People's Forum was held in Nairobi in August; the First China-Africa Think Tank Forum was held in Hangzhou, China's Zhejiang Province ,in October; and the Second Roundtable Conference on China-Africa Cooperation was held in Wanning, in China's Hainan Province in November.
China-Africa academic exchange and cooperation flourished. China-Africa joint research and exchange programs were implemented.
In 2010-2011, the Chinese government offered as many as 5,710 scholarships to African countries, reaching the target of 5,500 two years ahead of schedule. It had been announced on the Fourth Ministerial Conference of the Forum of China-Africa Cooperation (FOCAC).
The number of Confucius Institutes and Confucius Classrooms were increased to 28 in 21 African countries.
China has become the largest trading partner of Africa and Africa stands as China's fourth largest investment destination. According to latest data from the Chinese Ministry of Commerce, China-Africa trade volume reached US$122.2 billion in the first three quarters of this year, reaching year-on-year growth of 30 percent. Trade volume reached US$26.9 billion last year, and is expected to reach US$150-160 billion this year.
Meanwhile, China's non-financial direct investment to Africa totaled US$1.08 billion, a year-on-year growth of 87 percent. New construction contracts in Africa signed by Chinese companies reached US$25.2 billion, with a turnover of US$23.7 billion.
A wide range of Chinese goods suit various consumption levels in the African market and meet daily life and production needs. At the same time, coffee, diamonds, handicrafts and distinctive African products are favored by Chinese consumers.
China-Africa cooperation projects can be seen in almost every African country, covering agriculture, mining, manufacturing, infrastructure, trade flows and other areas. In 2011, Sino-Africa cooperation gained momentum in financial, telecommunications, tourism, shipping and other industries.
Weak infrastructure
A number of Chinese financial institutions have started business in Africa and airlines from China and many African countries have launched direct flights.
Development is the most pressing issue facing Africa, but weak infrastructure is creating a bottleneck for development. Therefore, infrastructure is a major focus of China-Africa cooperation. In 2011, China built infrastructure projects in many countries, such as roads, railways, bridges, ports, hospitals, communications and electric power; many are operational today.
The projects have not only improved the living standards and quality of life, but also provided local employment, improved skills of African professionals and promoted related industries.
While deepening political trust and expanding economic and trade cooperation in 2011, China and African countries also cooperated in the humanities, science and technology, healthcare and other areas.
The First China-Africa Youth Leaders Forum was held in Windhoek, Namibia, in May; the First China-Africa People's Forum was held in Nairobi in August; the First China-Africa Think Tank Forum was held in Hangzhou, China's Zhejiang Province ,in October; and the Second Roundtable Conference on China-Africa Cooperation was held in Wanning, in China's Hainan Province in November.
China-Africa academic exchange and cooperation flourished. China-Africa joint research and exchange programs were implemented.
In 2010-2011, the Chinese government offered as many as 5,710 scholarships to African countries, reaching the target of 5,500 two years ahead of schedule. It had been announced on the Fourth Ministerial Conference of the Forum of China-Africa Cooperation (FOCAC).
The number of Confucius Institutes and Confucius Classrooms were increased to 28 in 21 African countries.
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