China issues white paper on co-op with Africa

The white paper says that Sino-African bilateral trade enjoys great potential and is significant for the economic development of both sides.

China will help African countries improve their customs and commodity inspection facilities, provide support for African countries to promote trade facilitation, and push forward trade growth within Africa, the white paper says.

As poor economic foundation and insufficient construction funds have always been factors limiting the development of African countries, Chinese government encourages and supports enterprises and financial institutions to increase investment in Africa.

China's direct investment in African countries increased from $1.44 billion in 2009 to $2.52 billion in 2012, representing an annual growth rate of 20.5 percent.

At present, over 2,000 Chinese enterprises are investing in more than 50 African countries and regions.

Their investment activities have expanded from the fields of agriculture, mining and construction to intensive processing of resource products, manufacturing, financing, logistics and real estate, the white paper says.

African enterprises have also been active in making investment in China. By the end of 2012, investment from African countries in China totaled $14.24 billion, surging 44 percent from 2009.

China-Africa investment and financing cooperation has solidified the foundation of Africa's economic development, increased Africa's capacity of independent development, improved Africa's competitiveness in the global economic sphere, and advanced Chinese enterprises' internationalized development, the white paper says.