In step with the growth of Africa

Development fund has played a significant role in enhancing China's image on the continent, reports Jiang Xueqing.

Chinese direct investment in Africa has greatly expanded in the last few years, exceeding $25 billion by the end of 2013, compared with just $9.33 billion in 2009. Today, more and more companies are doing business in Africa in sectors such as financial services, telecommunications, energy, manufacturing and agriculture.

With the rapid growth of investment in Africa, Chinese companies have an increasing demand for overseas project financing, investment banking and financial intermediary services. But domestic banks are a step behind the nation's companies in their "going global" outlook, said Chi Jianxin, chairman of the China-Africa Development Fund, which aims to stimulate and facilitate Chinese investments in Africa.