Chart of the Day: China’s Investment in Africa

China has loaned a lot of money to Africa over the years, but it has also invested a great deal in the world’s poorest continent.

China’s direct investment in Africa has grown to $3 billion a year on average over the past five years, according to Caixin calculations based on government data.

As of the end of 2017, China’s accumulated direct investment in Africa amounted to more than $100 billion, with domestic companies involved in areas ranging from mining and manufacturing to real estate and finance, according to (link in Chinese) Chinese Vice Commerce Minister Qian Keming.

In the next three years, China will encourage domestic companies to invest at least $10 billion in Africa, President Xi Jinping said during the triennial summit of the Forum on China-Africa Cooperation, which took place in Beijing on Monday and Tuesday. He also pledged to provide $60 billion in financing for Africa, though he didn’t give a specific time frame.

Contact reporter Lin Jinbing (jinbinglin@caixin.com)