Business / Economy

850 Chinese firms invigorate Algeria's economic growth

(Xinhua) Updated: 2016-08-18 10:53

ALGIERS - As many as 850 Chinese companies are operating businesses in Algeria, out of overall 10,064 foreign firms investing in the country, according to a report of the National Trade Register Office (NRC) issued on Wednesday.

China ranks the fourth in terms of the number of firms in Algeria, behind France, Syria, Turkey and Tunisia.

However, China has been Algeria's largest supplier for the last three years and a half, after toppling France.

During the first half of 2016, China assured 17.73 percent of Algeria's overall imports, valuing $4.17 billion, according to official figures.

China and Algeria have reached a new historical stage of bilateral ties following starting the comprehensive strategic partnership in February 2014, the year marking the 55th anniversary of establishing diplomatic ties.

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