China-Africa partnership to expand for mutual growth, development

10:16, April 30, 2010      

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Despite the global economic crisis, Chinese financial commitment to Africa has steadily increased through infrastructure development, government funding programs, merger and acquisition activity and the purchase of natural resources as both sides vow to expand the new strategic partnership for mutual growth and development.

"China has really played an important role in the future of Africa's growth as the partnership in the past few years continues to grow. China is one of the emerging markets with South Africa and Brazil," Katherine Tweedie, Director, Head of Africa, World Economic Forum told Xinhua at the press conference ahead of the upcoming 20th World Economic Forum on Africa to be held in Dar es Salaam on May 5 to May 7.

Tweedie said that the World Economic Forum also has close links with China as the Forum holds its annual meeting in China, known as Summer Davos Forum in Dalian, the port city on China's east coast.

Furthermore, China's Industrial and Commercial Bank of China, China's largest bank, also has stakes in the Standard Bank of South Africa, she added.

On China-Africa new strategic partnership, Tweedie noted that it's not about the so-called resources exploitation, but mutual-benefit for both the Chinese and African governments from infrastructure partnership and financial investment.

She also expressed the hope that the partnership between African countries and China would develope into a new era of alignment with new initiatives for mutual growth and development.

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