China holds summit with African states

China will announce a package of measures covering aid, trade and social development for Africa during a summit of 48 African…

China will announce a package of measures covering aid, trade and social development for Africa during a summit of 48 African leaders that opened today.

The summit, which closes on Sunday, underscores China's deepening links with Africa, whose mineral and oil wealth it covets and whose countries form an important strategic bloc vote in world bodies.

"We take great pride in China's strong and warm friendship with Africa," Chinese Vice Premier Wu Yi said at the opening of the ministerial conference.

"We should, with an eye on new developments, fully tap co-operation potential and draw on each other's strengths to broaden and upgrade co-operation."

READ MORE

China's trade with Africa is expected to top $50 billion this year, and analysts expect the summit to be an opportunity to cement trade and investment deals that have been in the pipeline.

The volume of African exports to Asia rose by 20 per cent in the past five years, largely as a result of China buying up raw materials.

China also invited the five countries in Africa who have diplomatic ties with ideological rival Taiwan - Gambia, Malawi, Burkina Faso, Swaziland and Sao Tome and Principe - but none appeared to have taken up the offer.