Business / Economy

Chinese firms urged to fulfill responsibility in Africa

(Xinhua) Updated: 2012-11-29 11:15

HAIKOU - A China-Africa conference on Wednesday urged Chinese enterprises with ties to Africa to fulfill their corporate social responsibilities and abide by local laws and regulations.

According to a press communique issued after the Third Roundtable Conference on China-Africa Cooperation, held in southern province of Hainan, Chinese companies doing business with African partners or in Africa should promote social benefits as well as business growth in an effort to bring more benefits to local people.

China has been Africa's largest trading partner for three consecutive years, and Africa has also become the second-largest labor contract market and fourth-largest investment destination of China.

Trade between China and Africa totaled more than $160 billion in 2011, and the volume this year is expected to exceed $200 billion, Sun Guangxiang, vice-minister of commerce, predicted at the conference on Tuesday.

More than 400 diplomatic envoys, entrepreneurs and officials from China and African nations attended the event held in Wanning city of Hainan.

Focusing on the theme of "Deepen Cooperation For a Better Future" at the conference, both sides promised they would promote more cooperation in various fields and deepen mutual trust.

The African side said there is great potential for China-Africa cooperation and African countries welcome Chinese enterprises to invest and do business in Africa.

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