China will further open up its market to Africa by increasing from 190 to
over 440 the number of tariff-free import items from the least developed African
countries having diplomatic ties with China.
Chinese President Hu Jintao made the remarks here Saturday when addressing
the opening ceremony of the Beijing Summit of the Forum on China-Africa
Cooperation.
The decision is another fresh effort of China to facilitate its trade with
Africa, which rocketed to nearly 40 billion U.S. dollars in 2005.
China, the world's fourth largest economy, and Africa, an important
developing continent, are highly complementary in economy.
A raft of China-made daily necessities and technology equipment have been
sold to Africa these years while an increasing number of Chinese people flew
there on vacation and for sightseeing.
By the end of 2005, China had helped establish more than 720 projects for
Africa, offered over 18,000 governmental scholarships, dispatched more than
15,000 medical personnel, and treated some 170 million patients in Africa.
Gobind Nankani, World Bank Vice President for the Africa Region, told Xinhua
on Friday that a completely new trade relationship being shaped by China and
African countries will give African economies "a major boost".
World Bank statistics show that five years ago, total trade between China and
Africa was 10 billion U.S. dollars. Nankani predicts that it could be as high as
50 billion dollars this year.
He said that China's investment in Africa is also growing fast, already
sharing 10 percent of all direct foreign investment in Africa.