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China is ready to assist countries in Africa speed up industrialization and agriculture modernization in order to boost growth and development in continent according to a report by Daily News.[9]
Check also: Why Don’t Chinese Companies Hire African Workers?
China’s support for Africa will not falter irrespective of the international situation or world economy, Chinese Foreign Minister Wang Yi told reporters yesterday at the sidelines of the ongoing Chinese National People’s Congress (NPC) and Chinese People’s Political Consultative Conference(CPPCC).[5]
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“As we have seen in the recent past,[2] the China’s economic growth has been going down from double digits to single digit, but the aid the Asian country extends to African has doubled,” Mr Wang said.
The Chinese Premier speech on the opening of the NPC, put this years’ GDP growth on 6.5 per cent down from 6.7 per cent of last year, causing some to translate that to mean that Chinese’s support in Africa will reduce.[8]
FM Wang also discussed China’s foreign policy and the growth of China’s role in international politics.[7] Mr. Wang expressed optimism over the evolving Sino African relations where the market is playing a bigger role than governments, industrialization taking over commodity trade, investment replacing infrastructure construction.[3]
Mr Wang said nearly half of US$ 60 billion that Chinese’s President Xi Jinping promised for the industrial and infrastructure development in Africa has been delivered.[4]
China Africa Development Fund got a capital boost from the Chinese government from 5.0 billion US dollars to 10 billion US dollars.
Source: Africa updates
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