China and Africa natural partners for development

When covering the Seventh Forum on China-Africa Cooperation (FOCAC) held in Beijing earlier this week, attention focused on the $60 billion in aid and financing China pledged to African nations.

Few, however, may realize that back in 1978 when China launched its reform and opening-up drive, it was one of the poorest countries in the world with a per capita GDP of only $156 according to the World Bank, much lower than the $490 for Sub-Saharan Africa at that time.

Forty years of reform and opening-up have enabled China to make a great leap forward. Its economy has expanded at an average annual rate of 9.5 percent and its foreign trade has grown at an average of 14.5 percent each year.