Beijing is hosting a China-Africa summit this week and many poster boards have been erected along the city's major roads announcing the importance of Sino-African relations.

The significance of the once seemingly distant continent to China is yet to be fully appreciated by many people here. And the best rewards China can hopefully gain from Africa are nothing material.

Of course, material-wise, China's benefit from Africa is indisputable rich. According to officials from the Chinese Ministry of Commerce, China-African trade is expected to exceed US$50 billion this year, boosted, in part, by the most-favoured-nation trade status that China and 41 African countries provide to each other.

Five years ago, by comparison, China's trade with Africa was still US$10 billion. In trade volume, Africa's importance for China increased five times in five years, faster than any other region's increase in the world.

Viewed in conjunction with the upcoming fifth anniversary of China's accession to the World Trade Organization (WTO) and the completion of membership compliance, this is only the beginning. China's trade is on a rapid rise with all continents in the world and the trend is showing no signs of abating.

Although many Chinese doubted its fruition five years ago, when Beijing mustered courage to pursue China's WTO membership, it is now clear the country has benefited enormously from joining it and becoming a more active participant in the global market.

Some 20 years ago, China's weight was only marginal in global trade. In only five years, China has advanced by leaps and bounds.

Many other countries in the developing world can also achieve similar results. Equally rapid changes would occur in their economies if they could better accommodate the global market system, and embark on social programmes at the same time.

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