China targets $10trn import in 5 yrs

The Chinese Assistant Minister of Foreign Affairs, Mr. Liu Jianchao, said African countries would benefit from the country’s import of over $10 trillion goods in the next five years.

He said that China has also projected $500 billion investment overseas, adding that a large chunk of the money would be invested in Africa.

Jianchao made this known, yesterday, while addressing a group of journalists from Africa at the Ministry of Foreign Affairs, Beijing, capital of China.

The assistant minister disclosed that China - Africa cooperation contributed more than 20 percent to the growth and development of Africa which he said did not please some Western powers.

“We are always open to investors from Africa and we are ready to help the continent improve competitiveness of Africa at the international market because the continent’s development will also be beneficial to us,” he said.

Also speaking was the Director and Senior Engineer at the Department of Science and Technology, China Railway Corporation, Mr. Huo Baoshi, who said that China will cooperate with African countries to develop high speed train in the continent.