China and African countries are "resolved" to bolster their companies' joint energy exploration and exploitation under the principle of reciprocity, says an action plan endorsed by Chinese and African leaders at a landmark summit Sunday afternoon.

China, with one third of its total crude imports coming from Africa, pledges to help African countries "turn their advantages in energy and resources into development strengths", while at the same time protecting local environment and promoting sustainable economic growth of the continent, the action plan says.

It underscores that China will give "high priority" to the concerns over environment and sustainable development of Africa.

The promise, put down in the document approved at the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) by leaders and high-ranking officials of China and 48 African countries, demonstrates China's sincerity to be a partner of the continent.

The roadmap for China-Africa cooperation over the next three years notes, amid groundless Western criticism that China seeks bigger control of world's oil resources, that "better information sharing and pragmatic cooperation...serves the long-term interests" of both sides, which are highly complementary to each other in energy and resources sectors.

The cooperation between China and Africa will "impair no other country," said Chinese Foreign Minister Li Zhaoxing when meeting the press after the two-day milestone event ended Sunday afternoon.

"China will not pursue monopoly of oil resources in Africa, and it never has intention to blackball other countries' cooperation with the continent," Li told reporters.

INCREASING TRADE

Chinese companies signed on Sunday morning 14 commercial contracts and agreements worth nearly 1.9 billion U.S. dollars with 11 African nations covering natural resources, infrastructure, finance, technology and communications.

Premier Wen Jiabao assured earlier at a gathering of nearly 1,500 Chinese and African entrepreneurs that projects operated by Chinese firms in Africa will be "open, just, fair and transparent."

China-Africa bilateral trade has been on a massive growth path, registering an annual average rise of more than 30 percent over the past five years. The figure is expected to reach 50 billion U.S. dollars this year and top 100 billion U.S. dollars by 2010.

Emerging with a raft of commodities and investment that flow from China into the African continent are "inevitable challenges" to bilateral trade, as described by Ethiopian Prime Minister Ato Meles Zenawi at the summit.

To facilitate healthy and orderly trade growth, the two sides agreed in the action plan to "properly address trade disputes and friction through bilateral and multilateral friendly consultations...strengthen cooperation in customs, taxation, inspection and quarantine."

The China-Africa Joint Chamber of Commerce and Industry unveiled on Sunday should be fully used to facilitate trade communication and coordination, the document says.

In a sweeping effort to cement China's ties with Africa, Chinese President Hu Jintao pledged Saturday at the opening ceremony of the summit that China will double aid, offer 5 billion U.S. dollars in loans and credits to Africa by 2009, and cancel more debts owed by poor African countries.

Hu also vowed China will further open up its market to Africa by raising the number of tariff-free products from the continent to 440 from the current 190.

Egyptian Foreign Minister Aboul Gheit said when meeting with the press Sunday afternoon that he has confidence that the ambitious plans of China will be materialized, adding that the package of preferential measures reflects China's resolution in facilitating South-South cooperation.

The action plan also encourages cooperation between commercial banks of the two sides.

"China will encourage its financial institutions to set up more branches in Africa, and the African side agrees to provide necessary assistance in this regard," the document says.