The 4th China Africa Industrial Forum (CAIF) has brought more than 400 Chinese and African political and business leaders to Beijing to explore investment opportunities in Africa.
Yang Fuchang, former deputy minister of Foreign Affairs of China, said at the opening ceremony on Monday that African politics have become a lot more stable in recent years.
The fast rising economies and similar historical paths with China have made Africa even more attractive to Chinese investors.
Victor Sikonina, head of African diplomatic corps to China and ambassador of Mauritius to China, said that he hopes to leverage China’s strength in infrastructure construction and industrial construction in Africa in power generation and distribution, telecommunication and transportation.
"China-Africa trade volume has increased 20 fold, from $10 billion in 2000 to $220 billion in 2014," said Cheng Zhigang, secretary-general of CAIF.
"It is expected that by the end of 2015, the trade volume is going to be close to $300 billion. CAIF has helped nearly 100 Chinese enterprises to invest in Africa, helping with the industrialization on the continent in manufacturing, technological training and managerial expertise," Cheng added.
CAIF is a biannual forum that facilitates Chinese investment in Africa. The past three forums have witnessed over 300 purchase contracts between Chinese and African companies with the total value of over 13 billion US dollars covering various areas including trade, agriculture, textile, electronics, and minerals.
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