Direct investment by Chinese firms in Africa surged to US$480
million in the first half of this year, said Chinese Vice Commerce
Minister Wei Jianguo on Tuesday.
The figure exceeded that for the whole of 2006, which stood at
US$370 million.
China has signed labor service contracts worth US$11.27 billion
with African countries during the first six months, said Wei at a
meeting on corporate investment and trade with Africa.
China completed labor service contracts worth US$9.5 billion in
2006 in Africa.
Trade volume between China and Africa reached US$32 billion in
the first half, up 25 percent year on year, according to the
ministry.
China has become the third biggest trade partner of Africa, and
trade between China and Africa has been growing by an average 30
percent each year since 2000.
Many African countries expected China to increase its assistance
to Africa and import more goods from Africa, according to Wei.
Wei said China would continue to help African countries improve
their development capability, and called on Chinese firms in Africa
to shoulder more social responsibility.
(Xinhua News Agency August 29 2007)
