China's foreign trade minister Shi Guangsheng Tuesday expressed satisfaction over Sino-African economic and trade cooperation, saying there are big prospects and great potential for further cooperation in this regard.
On the eve of the China-African Cooperative Forum scheduled in Beijing in October, Shi reviewed the overall economic and trade relations between China and Africa in an exclusive interview with Xinhua.
According to Shi, China has reached trade agreements with the majority of the 53 African countries and set up mixed committees on economic, trade, and technology cooperation with many of them.
China's trade with Africa has continued to increase in recent years. In the early half of this year, total trade volume reached 4.7 billion US dollars, up 69.5% year-on-year.
Africa remains as China's large potential market for contracted projects. A total of 573 contracts were signed in the first half of this year, involving 1.2 billion US dollars, up 3.6% over the same period of last year.
Chinese enterprises have started investment projects in Africa. By the end of this June, China had established some 480 enterprises in 47 African countries, with a joint contracted investment of 820 million US dollars, of which 530 million is from China.
China has also set up 62 trade projects in 12 African countries, involving a joint investment of 117 million US dollars, of which 80 million is from China exclusively.
Since 1995, China has set up 11 promotion centers for investment, development and trade in Africa, which, by providing cooperative information for both sides, have played an active role in expanding trade relations.
Shi pointed out the Chinese government has always provided assistance within its limits to African countries. So far, it has helped establish 640 projects in such fields as agriculture, herding and fishing.
Since the reform in assistance forms in 1995, China has provided preferential loans to 33 projects in 23 African countries, most of which have produced both positive social and economic results.
(People’s Daily 09/05/2000)
