Accord helps with expansion into Africa

The China-Africa Development Fund on Friday signed a cooperation agreement with Shaanxi government in Xi'an, the first of its kind with a provincial-level partner that aims to boost more investment in the African market.

Hu Heping, governor of Shaanxi province, said the agreement had great significance for companies in Shaanxi, pointing the way for them to go abroad and accelerate their steps into Africa.

According to the agreement, the two sides will establish Shaanxi Africa Industry Development Fund, which will help local companies in financing, project selection and loans for their businesses in Africa.