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.
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 (email@example.com)
- 1Exclusive: Fallen Chief of Bad-Asset Manager Had Tons of Cash — Literally
- 2Update: China’s Economic Growth Hasn’t Been This Slow Since Financial Crisis
- 3Update: Stocks Surge After Xi’s Top Economic Adviser Calms Investors
- 4In Depth: China’s New Household-Debt Fears
- 5Real Estate Market Braces for Winter
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas