Second China-Africa investment forum opens in Guangzhou
The second China-Africa Investment forum opened on Wednesday in Guangzhou China.
The two-day event aims to promote experience-sharing between China and Africa, as well as accelerating Chinese investments in the continent.
Around 300 government officials, entrepreneurs and other delegates will be taking part in the forum jointly hosted by the Chinese Development Bank and the Chinese government.
Chinese businessmen have been eying to tap into Africa’s growing markets, as most countries seek to speed up industrialization and agricultural modernization.
China is currently the largest single bilateral investor in Africa as well as Africa’s largest trading partner. Recent visits by Chinese leaders to Africa signaled a pragmatic approach to cooperation, as China remains keen to pursue balanced and accelerated investment partnerships.
In 2000, China’s total investment in Africa was less than one billion U.S. dollars, but by the end of 2015, they exceeded 100 billion U.S. dollars. As the ties between China and African countries grow closer, more Chinese investors are expected to explore the African markets in the coming years.