Latest News:  
Beijing   Cloudy    11 / 2 ℃  City Forecast


Confidence rises for China-Africa co-operation (4)

By Ma Hailiang (China Economic Net)

08:53, December 06, 2012

Secondly, the Report proposes to accelerate the change of the growth model, carry out strategic adjustment of the economic structure, speed up the establishment of a long-term mechanism for increasing consumer demand, and expand the domestic market. The strategic significance of this for the development of the African economy is two-fold: first, as China's growth model changes, the transfer of labor-intensive industries resulting from the adjustment of China's economic structure will present a historic opportunity for the development of Africa's industrialization. Currently, as Africa's industrialization is still at its initial stage, it is anxiously looking forwards to foreign investment, particularly investment from China. Over the past ten years, the volume of China's direct investment in Africa has increased from US$ 500 million at the end of 2002 to a swapping US$ 14.7 billion at the end of 2011, and more than 2000 Chinese enterprises have established business operation in Africa. In the next decade, China's investment in Africa will enter a new phase of growth.

Thirdly, China's establishing a mechanism for increasing consumer demand and expanding its domestic market mean that its import from Africa will continue to grow steadily. In the past 10 years, the trade volume between China and Africa has increased from US$ 12.39 billion in 2002 to US$ 166.3 billion in 2011. In the coming 10 years, trade between China and Africa can be expected to enter another phase of steady and rapid development.

In short, China's grand goal of completing the building of a moderately prosperous society in all respects in 2020 will drive rapid economic and social development in Africa. The CPC's 18th National Congress gives Africa's industry and commerce sector a glance at the prospects and future opportunities. The future of China-Africa cooperation on economy, trade, and investment is bright and promising, and there are a lot for African entrepreneurs to achieve.

【1】 【2】 【3】 【4】

Recommended Features:
Vibrant Opportunities amid Transition From 'Made in China' to 'Created in China' A Journey to Cultural Renaissance
The Vision of A Pillar Industry [Video]A 'Made in China' Story A Splendorous Landscape of China's Wealth
A Decade of Fastest Development Eastern Boom Lightens Western Gloom Chinese firms 'potential Trojan horses'?


Related Reading

Leave your comment0 comments

  1. Name


Selections for you

  1. PLA shooters win gold medal in Championship

  2. PLA conducts confrontation training

  3. Great beauty in silence(II)

  4. Beauty of nature in 2012

  5. Luxurious Bentley Mulsanne Mulliner

  6. E-commerce, a bright spot in China

  7. 8 must-eat foods for pregnancy

  8. Tree houses around the world

Most Popular


  1. Museums should not end up as 'vanity projects'
  2. Miss World: charity is more of care and love
  3. Economy stabilizing, but facing severe challenges
  4. Aircraft Carrier Style mirrors a great power
  5. Prejudice dents enterprises' overseas expansion
  6. Innovation key to economy growth model in China
  7. China's culture once influenced the world
  8. Say no to ugliness appreciation
  9. Promoting old-time inclusive TCM
  10. Bigger global role for RMB in 2013

What’s happening in China

Solar yacht put into use in SE China

  1. Chinese govt go more transparent on web
  2. Cornea donors bring hope to others
  3. Int'l Volunteer Day marked in China
  4. Blizzard cuts power supply in Dongfanghong
  5. Behind every corrupt man