Latest News:  
Beijing   Sunny/Overcast    9 / 1   City Forecast

People's Daily Online>>China Business

China-Africa trade to hit record high in 2011

By Guo Lijun (Guangming Daily)

15:56, November 23, 2011

Edited and translated by People's Daily Online

China-Africa trade volume rose 30 percent from a year earlier to 122.2 billion U.S. dollars during the first three quarters of 2011, which is only a few billion shy of the 126.9 billion U.S. dollars in total trade for all of last year, Shen Danyang, a spokesperson for China's Ministry of Commerce, said at a routine press conference. China-Africa trade volume is likely to hit a record high in 2011.

"China has become Africa's largest trading partner, with bilateral trade growing 28 percent per year from 2001 to 2010," Shen said.

China invested nearly 1.1 billion U.S. dollars in non-financial sectors in Africa during the first three quarters of 2011, up 87 percent from a year earlier. Overall, China's Africa-bound investment has maintained substantial growth momentum.

"China-Africa cooperation in various sectors, including financial services, telecommunications, tourism, and aviation, has shown great growth momentum," Shen said.

Many Chinese financial institutions have expanded into Africa, and many airlines on both sides have opened direct flights between China and Africa. Furthermore, bilateral cooperation in infrastructure construction is also well underway.

As of the end of 2010, the value of construction contracts completed by Chinese enterprises in Africa totaled 132.5 billion U.S. dollars, accounting for 30 percent of the accumulated value of completed contracts for China's foreign contracted projects. During the first three quarters of the year, Chinese enterprises signed contracts totaling 25.2 billion U.S. dollars in Africa, with the accomplished turnover standing at 23.7 billion U.S. dollars.


Leave your comment0 comments

  1. Name


Selections for you

  1. U.S. Air Force main fighters

  2. Est-Ouest Auction 2011 Autumn Sale to be held

  3. Heavy snow hits Liaoning Province

  4. Vintage and classic cars displayed in exhibition

Most Popular


  1. Addressing climate change
  2. Reviled 1 percent are not all wicked
  3. China must avoid Europe's mistakes
  4. China marks 10 years as partner in world trade
  5. Media distorted train crash claims: expert
  6. Return to reason for real estate
  7. A reality check for Washington
  8. Improving education quality in rural areas
  9. Further healthcare reform
  10. Cyber cooperation needed

What's happening in China

The beauty of the lesser-known Cantonese culinary tradition

  1. Accountants investigate score fixing
  2. Truck fees lead to police sackings
  3. Macao residents hit jackpot with gov't subsidies
  4. Schools offer lessons for a happy marriage
  5. Smaller units to supervise railways

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival