China is committed to expanding its investment in Africa by further promoting corporate cooperation in various fields, according to a commerce official.
At a press conference on Wednesday in Beijing, Shen Xiang, director of the West Asia and Africa Department under the Ministry of Commerce, briefed the press on the current landscape of Chinese investment in Africa.
"African countries have seen steady economic development in recent years, with the overall business environment continuing to improve and the willingness of Chinese firms to invest in the continent significantly growing. Our data reveals that over the past five years, annual average direct investments from Chinese companies in Africa have consistently exceeded 3 billion U.S. dollars, with investment projects spanning a wide range of sectors. In addition, the entities involved in China's investments in Africa have become increasingly varied," he said.
Shen also noted that the ministry will further enhance the investment by fostering cooperation, especially among small and medium-sized enterprises (SMEs).
"The Ministry of Commerce will encourage Chinese companies to coordinate the construction of various industrial parks, logistics facilities, power and energy projects tailored to the resource endowments and industrial development plans of African countries, and promote the integrated development of investment and trade. It will continue to motivate enterprises from both sides to seize the opportunity of China's expanded opening up and achieve greater investment cooperation," said Shen.
"The ministry will also actively facilitate partnerships between SMEs between China and African countries, organize SMEs matching activities, support young entrepreneurs and women entrepreneurs from both regions to carry out innovation and entrepreneurship cooperation, so as to create broader avenues for cooperation among SMEs," he said.
China to expand investment in Africa by promoting corporate cooperation in various fields: official
