Premier's Africa tour boosts investment
(Xinhua)
Updated: 2006-06-20 13:59
Chinese Premier Wen Jiabao's seven-nation Africa tour is rousing enthusiasm
for greater investment between China and the continent.
Chu Shuntang, a division director of the China-Africa Business Council, told
Xinhua on Monday that Wen and his delegation of business representatives would
increase trade exchanges and attract more Chinese investment to Africa.
Wen's visit to Egypt, Ghana, the Republic of Congo, Angola, South Africa,
Tanzania and Uganda this week is regarded as an important diplomatic follow-up
to the Chinese government's first African Policy Paper issued early this year
and President Hu Jintao's visit in April.
Economists believe the "Africa heat" in China's diplomacy has been expanded
to the economic field. Direct investment into Africa has grown to 1.18 billion
U.S. dollars, and there are now nearly 700 Chinese companies there.
Private investment is also growing between China and Africa. Mahamat Adam, a
Cameroon businessman who has worked in Beijing for more than seven years, is
helping Chinese companies do business in Africa.
Adam and his Africaccess Consulting Company have introduced many African
investment projects to Chinese investors. He said new processing factories in
Africa are a good choice for Chinese investors since many African countries have
issued favorable investment policies.
The Chinese government said in its first African policy paper that it would
support investment in Africa by offering favorable loans and credits, while
welcoming African companies to invest in China.
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