China maintained good economic and trade relations with five African countries
Tag: African countries, China maintained
Summary: China has maintained good economic and trade relations with all the five African countries. Their specific features are as follows.
China has maintained good economic and trade relations with all the five African countries. Their specific features are as follows:
With concerted efforts between the governments of China and Mauritius as well as their respective corporations, the economic and trade relations have gained great momentum in recent years. The bilateral trade is developing in a steady way. From January to October of 2010, the bilateral trade reached US$320,000,000 and the trade volume of the whole year is likely to set a new record. Investment and cooperation are becoming more and more active.
Chinese firms have made an accumulated direct investment of US$290,000,000 in the areas of textiles, papermaking and engineering, etc. The cooperation on infrastructure construction is constantly expanding. China has already completed a series of contracted projects in fields such as real property development, waste water treatment and airport construction, etc. The accumulated business turnover of these projects is US$630,000,000.
In recent years, China-Zambia economic and trade cooperation is developing in a prosperous way with remarkable achievements. The bilateral trade has grown fast. From January to October of 2010, the trade volume reached US$2.18 billion and that of the whole year is expected to set a new record. The cooperation on contracted projects is constantly expanding.
By the end of October 2010, China has completed contracted projects in the fields of road, building and hydro-power station construction, etc. with an accumulated turnover of US$1.64 billion. The investment and cooperation are becoming increasingly active. China has already become Zambia’s 3rd largest source of foreign capital with USUS$1.3 billion of direct investment. Especially since the breakout of the global financial crisis, Chinese corporations have worked hard together with Zambia rather than laying off their employees, reducing production or investment. That is a true portrait of the friendly cooperation between China and Zambia.
In recent years, China-Congo economic and trade relations have been developing rapidly. Congo has become China’s important partner for cooperation in Africa. The scale of the bilateral trade has expanded quickly. From January to October of 2010, the bilateral trade was USUS$2.38 billion with a yearly increase of 118.3%.
Investment and cooperation have developed smoothly. In 2009, although global foreign direct investment shrank, the Chinese enterprise increased rather than reduced their investment in Congo. China’s investment reached US$230,000,000 in 2009, making Congo China’s 2nd largest overseas investment destination. In addition, China and Congo have carried out mutually beneficial and win-win cooperation in the fields of resources development and infrastructure construction, having become the new bright spot in the economic and trade cooperation between the two nations.
In recent years, the bilateral trade between China and Cameroon has been developing steadily. From January to October of 2010, the bilateral trade reached USUS$850,000,000 with an increase of 36.7% over the previous year. The cooperation on contracted projects has been implemented smoothly.
Chinese enterprises have completed contracted projects in the fields of road and infrastructure construction. The accumulated turnover of these contracted projects is USUS$630,000,000. In addition, China has provided financial support of many infrastructure projects to Cameroon and, Chinese and Cameron enterprises have a good beginning in projects of cooperation in the iron ore and oil development.
In recent years, China-Senegal economic and trade cooperation has gained good momentum. The bilateral trade is growing rapidly and now China has become Senegal’s 3rd largest trading partner. From January to October of 2010, the bilateral trade reached USUS$460,000,000 with a year-on-year increase of 31.4%. China and Senegal have carried out fruitful cooperation in infrastructure construction.
Chinese companies have completed contracted projects in many fields such as roads, municipal facilities, communications, and building construction, etc. China’s accumulated turnover from these projects reached USUS$930,000,000. In addition, China and Senegal have had smooth cooperation in agriculture and fishery. The CNFC Overseas Fishery Co. Ltd has been working with Senegal for nearly three decades, having made great contributions to Senegal by creating jobs for local people and paying taxes.