PRETORIA:China has invested $1.8billion in the African continent and further expressed commitment to work with African countries in advancing bilateral cooperation in investment.
Speaking during the the launch of a report on Chinese investment in Africa,Wang Dong,the Deputy head of the Department of Western Asia and African Affairs of the Chinese Ministry of Commerce said,China has achieved 4.4% in the African investments adding that,Chinese companies have carried out infrastructure projects worth over $400 billion in Africa.
The Deputy head of the Department of Western Asia and African Affairs of the Chinese Ministry of Commerce further mentioned that,Chinese companies have expanded their investment in the continent from traditional sectors,including construction,mining and manufacturing,to emerging industries, such as logistics,digital economy,clean energy,health,green development and finance.
On another note,China has been Africa’s largest trade partner for 14 consecutive years and bilateral trade in 2021 saw a year-on-year increase of about 11 percent and reached $282 billion,the Ministry of Commerce said.
Commenting on the Chinese investments in Africa during the launch of the report,Wu Peng, the head of the Foreign Ministry’s Department of African Affairs said,China has been working to promote Africa’s industrialization through investment cooperation with the continent.
China’s investment has served to help Africa enhance its ability to pursue independent and sustainable development.
China invests $1.8billion in Africa,ready to work with countries to advance bilateral cooperation.