President of China’s central bank pledges more involvement in Africa

16 May 2007

Shanghai, China, 16 May – The president of the Chinese central bank, Zhou Xiaochuan, Tuesday in Shanghai pledged greater involvement by China in promoting African development, pointing to increased investment and development of financial markets as priorities.

“We are going to make efforts to share our experience of reform and opening up of the financial sector,” Zhou, in a conference before the annual meeting of the African Development bank (ADB), held Wednesday and Thursday in Shanghai.

The general meeting, which is held for the first time in Asia, brings together representatives from 53 African countries and 24 non-African countries and representatives of the private sector, non-governmental organization and civil society to discuss and find solutions for economic development in Africa.

“We are going to encourage Chinese companies to invest in African countries,” said Zhou.

Zhou added that China’s financial institutions would prioritize involvement in Africa and actively participate in building infrastructure on the continent. (macauhub)