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