China's Envoy Vows Not to Cut Investment in Africa

The Chinese government's special envoy on African affairs, Liu Guijin, has said that China will not cut its investment and assistance to Africa despite the fact that the world is suffering the impacts of a financial crisis. He promised China will continue to contribute to boosting Africa's economy. CRI correspondent Wei Tong reports from Dar es Salaam, Tanzania.

In an interview with China Radio International, Liu Guijin, who is currently participating in the World Economic Forum on Africa in Dar es Salaam, notes that China will not reduce its investment and assistance to Africa for the economic and social development of the continent.

"China's economy also suffered a great loss after the outbreak of global financial crisis. But we have promised not to shut down the Chinese mining enterprises. What is more, we are not cutting the number of African workers who work for Chinese companies. Last but not least, we will not cut China's investment in Africa. We also purchased other African enterprises which are on the brink of collapse, especially in Zambia."

Liu Guijin adds that China's assistance to Africa has increased in spite of the economic crunch, and Chinese-backed infrastructure construction projects are in the works. China's presence in Africa has contributed to economic development there, and Liu Guijin sees great prospects for the China-Africa relationship in the future.

"China-Africa relations have a bright future. The economies in China and Africa are complementary to each other. China is a big market and Africa is in dire need of China's high technology and investment. China's investment market to Africa will total 1.5 trillion US dollars and by 2020. It will be a big market for African products export. So China-Africa economic cooperation will benefit both sides tremendously with the fast track of economic globalization process."

Ethiopian Prime Minister Meles Zenawi has echoed Liu Guijin's remarks and commended China for its role in financing Africa's infrastructure. Speaking in Dar es Salaam, Zenawi said China's investment in Africa is based on a mutual interests.

"China's investment in Africa is based on the strategic understanding of the interest of both China and Africa. And those strategies interest have not changed because of the crisis. That is why I think it is not a surprise China's investment in Africa still continued throughout the crisis. "

The prime minister added that investment in infrastructure and manufacturing sectors should be the focus of Sino-African cooperation in the future.

Wei Tong, CRI News, Dar es Salaam, Tanzania.