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Great Co-operation and Attraction between
Africa and China |
With outstanding economic growth rates for the
past three decades, mainly due to external demand,
China has positioned itself at the core of the
globalization process and kept the strong momentum
of its outbound investment on the overseas market.
Africa has become a new focus for Chinese investors.
In recent years, promoted by Chinese government
and African governments and through the joint
effort of Chinese and African enterprises, the
trade cooperation between China and Africa develops
fast, achieving outstanding results: since bilateral
trade volume between China and Africa exceeded
10 billion US dollars in 2000 the annual growth
rate has been around 30% reaching 73.3 billion
in 2007 as confirmed during the "African
Countries Investment Seminar".
One of the key instrument of facilitating Chinese
investment in Africa was the creation of China-Africa
Development Fund(CAD Fund). The CAD Fund was
announced by President Hu Jintao at the Beijing
Submit of the Forum on China-Africa Cooperation
in Nov., 2006, and is an equity investment fund
established to support Chinese enterprises to
undertake their cooperation with and expand
their investment in African countries. The fund
size will reach USD5b gradually. The CAD Fund
was approved to open on Jun. 26, 2007 officially,
and the first-stage capital of USD1b is totally
contributed by China Development Bank.
Indeed, the first half of 2008 already saw the
volume reaching 53.1 billion. Moreover, Chinese
companies have been very proactive in investing
in African countries with 305 million US dollars
DIRECT investments being materialized within
the first 6 months of this year in projects
ranging from agriculture to health care, industrial
and tourism as well.
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Africa is an equal and unified partner
for China |
Latin America is another destination for Chinese
investors. Bilateral relations between China
and Latin America have achieved unprecedented
development since 1980s. In 2007, China’s non-financial
direct investment in Latin America was 1.89
billion US dollars. Over 400 Chinese companies
are now registered in Latin America. They are
mainly running well and operating in energy,
agriculture, infrastructure and telecommunications
sectors. In the first two months of 2008, China-Latin
America trade continued to grow at a rate of
50%.
In addition, Chinese investment spread through
90 percent of the Asian market and 81 percent
of the African market such by the end of 2007.
The US, Russia, Viet Nam, Japan, Germany, United
Arab Emirates, Australia and Singapore are also
major homes to Chinese funded enterprises. According
to the Chinese Ministry' of Commerce, China
made 26.51 billion USD of direct investment
on the overseas market in 2007, which represented
a growth of 25.3 percent over 2006. By the end
of 2007, some 7,000 Chinese entities had set
up more than 10,000 enterprises in 173 countries
and regions around the world. That leads to
117.91 billion USD of stock of China's outbound
investment. Indeed, China enters a new stage
for overseas investment and is emerging as an
economic powerhouse throughout the world.
 For
further information on business facilitating
service of business marketing and target promotion,
or any investment promotion agencies and other
organisations that wish to benefit from this
unique campaign please contact the London office
of
China Business Network on:
TEL: +44 207 5363 888 FAX: +44 207 9873 888 Email:
invest@Chinabn.org |
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