Source: CCTV.com

05-15-2007 14:20

A China-Africa enterprises forum is underway in China's financial hub of Shanghai. The objective is to strengthen cooperation between companies from both sides and to discuss how best to support their business.

The China-Africa enterprises forum is a prelude to the annual meeting of the annual meeting of the African Development Bank Group. That gathering will get underway here in Shanghai on Wednesday.

Booming trade and investment between China and Africa has generated great enthusiasm over the forum. Last year, bilateral trade volume reached 55 billion US dollars,and many expect this figure to double before 2010.

For Chinese enterprisesboth the central government's support and the huge business potential presented by the African continent are powerful factors driving investment.

By 2006, Chinese investment projects covered 49 African Countries, spanning areas from infrastructure and agriculture to resource development.

For the African side, the countries on the continent especially value several factors. Among them, the competitive prices of Chinese products, China's favorable tariff policies towards exports from Africa, as well as China's equal treatment towards Africa.

In addition, the newly-forged strategic partnership between China and Africa in 2006 provides a solid basis for economic contacts.

This will be the first time for the African Development Bank Group to hold its annual meeting in an Asian Country. 77 member countries have arrived in Shanghai. The theme for this year's conference is "African and Asia: Partners in Development."

 

Editor:Chen Ge