BIZCHINA / Biz Media Digest
Trade: China launches US$1b Africa trade fund
(Xinhua)
Updated: 2007-06-26 15:24
China launched a special fund of US$1 billion to finance trade and
investment by local companies in Africa on Tuesday, a fresh effort to
facilitate Sino-African business relations.
The China-Africa Development Fund is financed by the China Development
Bank and will eventually expand to US$5 billion.
Related readings:
African bank sees more business with China
Sino-South Africa trade up 50% China encourages African imports
Sino-African trade expected to soar by 2010
The fund was launched at a ceremony in the Great Hall of the People, the
seat of China's top legislature in downtown Beijing.
At a Shanghai meeting of the African Development Bank in May, Zhou
Xiaochuan, president of the central bank, the People's Bank of China,
stressed that China and Africa should strengthen financial cooperation.
He said in addition to continuing to develop traditional trade, China
should also pay more attention to Africa's sustainable economic
development.
(For more biz stories, please visit Industry Updates)
Learn Chinese, Free Chinese Lesson
No comments:
Post a Comment