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China Commerce Minister: Accusations of African Resource Exploitation are Unfounded

On January 20, 2010, People’s Daily, published an interview with Chen Deming, Minister of the Commerce Department in China, about China’s investment in Africa. Chen Deming denied the international community’s allegations –

of china’s neo-colonialism in Africa, as well as the plundering of African resources – as "totally without justification."

Chen proudly stated that China increased investment in Africa by 77.5% in the first three quarters of 2009. The total investment in 2009 will exceed $1 billion. In addition, China has set up a China-Africa Development Fund, supporting those Chinese enterprises and projects involved with African countries, which will encourage more Chinese companies to invest up to $3.6 billion in Africa.

Source: People’s Daily, January 20, 2010