Chinese companies invest US$480 million in Africa in first half

29 August 2007

Beijing, China, 29 Aug – Direct investment by Chinese companies in Africa totaled US$480 million in the first half, the deputy trade minister, Wei Jianguo said Tuesday in Beijing.

The figure for the first half of 2007, exceeded that of 2006, a year in which Chinese companies invested US$370 million in Africa.

According to the ministry, trade between China and Africa totaled US$32 billion in the first half, a year on year rise of 25 percent.

China has become Africa’s third largest trading partner with trade increasing at an annual rate of 30 percent since 2000. (macauhub)