Recently, the China Center for International Economic Exchanges held its 28th Monthly Economic Talk. At the event, Xie Yajing, the Chinese Commercial Counselor for Western Asian and African Affairs, summarized the achievements in China-Africa economic cooperation in the following areas:

1) The trade between China and Africa showed an annual growth of 30 percent. In 2011, it reached US$126.9 billion, which is ten times the amount it was in 2000. In the first half of 2011, total trade reached US$79 billion. The figure for the full year is expected to reach a new record high. China is Africa’s largest economic partner. Meanwhile, Africa’s trade with China accounts for 10 percent of its total foreign trade.

2) By the end of 2010, China’s direct investment in Africa surpassed US$10 billion. In 2010 alone, China’s non-financial investment was US$1 billion, 5 times the size it was in the year 2000. There are 2,000 Chinese companies investing in Africa covering areas such as agriculture, telecommunications, energy, manufacturing, and food services.

3) Over the past 50 years, China has constantly provided aid to Africa. The total of over 800 projects includes railway construction – 2,000 kilometers; road construction – 3,000 kilometers, training – 3,000 people; and medical aid – 17,000 visits to medical personnel.

4) Cooperation in building infrastructure is the key trading component between China and Africa. China has provided non-interest bearing loans, loans on favorable terms, commercial loans, and so on. Chinese companies have invested in projects in Africa from electricity, telecommunications, and transportation, to energy. Its total investment in Infrastructure accounts for 2/3 of the total infrastructure spending in Africa.

Source: China Internet Information Center, October 21, 2011
http://www.china.com.cn/economic/txt/2011-10/21/content_23688099.htm

On October 20, 2011, Liu Yunshan, a Politburo member and Chief of the Chinese Communist Party’s Propaganda Department, met with a group of officials who are in charge of press affairs in developing countries. The group included 23 senior news and press officials and staff members from 12 developing countries. The Party offered a training session in which all of them participated. Wang Chen, the Minister of the State Council Information Office, also attended the meeting.

Liu said, “China and the developing countries enjoy a profound traditional friendship. To strengthen China’s friendly cooperation with developing countries is not only an important cornerstone of China’s foreign policy, but also our long-term and firm strategic choice. In recent years, on the basis of traditional friendship, the relationships between developing countries have achieved new progress. Cooperation and exchanges in the field of news media have been strengthened and mutual understanding and affection have improved.”

Source: Xinhua, October 20, 2011
http://news.xinhuanet.com/politics/2011-10/20/c_111111264.htm

On October 20, 2011, Xinhua published a commentary on the death of Gaddafi. It stated that Gaddafi’s death does not mean the game in Libya is over. “People realize that Gaddafi’s death does not mean that everything is now all right in Libya. Gaddafi’s surviving forces will still make trouble. Conflicts between the eastern and western regions, large and small tribes, and various political forces may still surface. A flood of weapons among the people, foreign interference, as well as extremist and terrorist forces fishing in troubled waters are further elements that may contribute to the volatility of the situation in Libya. For the foreseeable future, Libya, in the post-Gaddafi era, will not be at peace. In fact, the death of Gaddafi really raises the curtain for the maneuvers of the various Libyans who are vying for power.”

Source: Xinhua, October 20, 2011
http://news.xinhuanet.com/2011-10/20/c_122181840.htm