USEUROPEAFRICAASIA 中文双语Français
Home / Business

Africans' fatter wallets shift focus of bilateral trade

By Zhong Nan and Yan Yiqi | China Daily | Updated: 2015-02-02 07:12

As Africa presses on with industrialization and urbanization, it is buying more of the machinery and consumer goods from China that it needs to make these two things happen.

Even though serious price fluctuations in commodity markets affected both economies and market demand last year, trade between China and Africa was worth $201 billion in the 11 months to November, up 5.3 percent year-on-year.

Cao Jiachang, deputy director-general of the department of Western Asian and African Affairs at the Ministry of Commerce, says this is largely because many African countries have turned to other goods to trade with China, such as agricultural products, clothing and chemicals, as they are keen to further reduce the continent's heavy reliance on natural resources.

Africans' fatter wallets shift focus of bilateral trade

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US