China, Africa to keep extending economic cooperation: experts
English.gov.cn | 2014-May-12 22:09 | Editor: Anne Tang

China and African countries will continue to increase economic cooperation to boost mutual development as Chinese Premier Li Keqiang's visit brought new hope, analysts said on Monday.

The visit brought fresh opportunities for Chinese enterprises to increase investment in Africa, said Li Guanghui, vice president of the Chinese Academy of International Trade and Economic Cooperation.

During the visit, which ended on Sunday, Li announced to upgrade China-Africa economic cooperation, highlighting six areas including industry, finance, poverty reduction, ecological protection, cultural exchange and peace and security.

China also pledged more support in investment, loans, infrastructure construction and other financial aid.

Yao Guimei, researcher from Chinese Academy of Social Sciences, forecast a bright outlook and pointed out trade between the two sides has been booming this century.

In 2013, trade reached 210.3 billion U.S. dollars, while the volume was just 10 billion U.S. dollars in 2000, with China remaining the continent's largest trade partner for five consecutive years.

China has vowed to increase loans for African countries by 10 billion U.S. dollars, now pledging a total of 30 billion U.S. dollars, and urged the two sides to strive to bring bilateral trade volume to 400 billion U.S. dollars by 2020.