China to increase investment in Africa

BEIJING, Nov. 26 (Greenpost) — China will increase investment in Africa and buy more non-resources products from the continent, an official said on Thursday.

“China will export advanced industrial production capacity to African countries,” Vice Commerce Minister Qian Keming told a news briefing.

He said China will diversify imports from the continent and buy more products in addition to primary commodities, particularly natural resources, which account for the bulk of China-Africa trade.

He said China has deliberated for a year on the “package of cooperation proposals”, which will be announced at the Johannesburg meeting of the Forum on China-Africa Cooperation next month.

The package is based around China “helping African countries upgrade industrial structure, safeguard food security and build infrastructure,” according to the vice minister.

“To that end, China will give African countries more low-interest loans and set up funds to finance the cooperation,” said Qian. Enditem

Source Xinhua, editor Xuefei Chen Axelsson

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