Firms told to back African loans, improve business environment

The China Chamber of International Commerce has called on its member companies from both private and State-owned sectors to improve their commercial credit systems in Africa, in order to help foster business development in the region.

Officials and experts said that even though many Chinese companies have built a strong presence in Africa, particularly in sectors such as infrastructure, power generation, agriculture and other service businesses, it is time for firms to up their credit facilities, support lending platforms, and deploy more resources.

Sun Xiao, director of the multilateral cooperation department of the Beijing-headquartered CCOIC, said China's move to establish a credit system is admirably in tune with its efforts to enhance market order, and create a favorable business environment.