China Is Africa's Industrial Accelerator

- Jan 22, 2018-

China is Africa's industrial accelerator


Relationship is a two-way street, with each side supplying the requirements of the other to mutual satisfaction 


Since the turn of the century, China has become Africa's major economic partner with, for example, bilateral economic relations rising by 16.8 percent year-on-year to $38.8 billion in the first quarter of 2015. 


China's commercial transactions with Africa have surpassed the continent's economic relations with France, the United Kingdom and the United States put together.

 

As trade relations between China and Africa have expanded rapidly, investment relations have also flourished, with around 10,000 Chinese companies investing in different sectors of Africa's economy, from agriculture to industrial and manufacturing, construction to infrastructure. 


Investment in the continent by Chinese companies is said to have amounted to $3.2 billion in 2016. This was noted recently by the Guinean minister of transportation, who said, "Chinese companies are involved in revitalizing Guinea's rail infrastructure." The aim is to boost both passenger and mineral transportation from Mali to the port of Conakry in Guinea. 


Economic ties between China and the African continent are not just a recent occurrence. In fact, such relations go as far back as the 1950s. 




Previous:Tata Steel Raises $1.3 Billion Through Bonds Next:Bitcoin Loses Half Of Its Value