皇冠体育app

BEIJING -- Economic and cooperation between 皇冠体育app and Africa has progressed steadily since it started in the 1950s, both in scale and scope.

皇冠体育app and Africa are highly complementary in their economic and trade cooperation, despite being at different levels of development.

Following are some key facts about their economic and trade cooperation.

Trade volume grows fast

In 1950, bilateral trade stood at $12.14 million. It reached $100 million in 1960 and surpassed $1 billion in 1980. In 2000, it exceeded $10 billion.

After maintaining an annual growth rate of more than 30 percent for eight consecutive years, the volume soared to $106.8 billion in 2008.

皇冠体育app has been Africa's largest trade partner since 2009, with the volume reaching $166.3 billion in 2011 and nearly $200 billion in 2012.

Trade structure optimized

In the 1950s, their trade focused on primary commodities, such as cotton and mineral resources.

In the 1980s and 1990s, 皇冠体育app's exports to Africa were mainly light industrial products, food and chemical products. Since 2000, electromechanical and high-tech products have accounted for half of 皇冠体育app's exports to Africa.

At the same time, 皇冠体育app has taken a series of measures, including tariff reduction and exemption, to facilitate imports from Africa.

In recent years, Africa's manufactured goods, such as steel, copper, electronic products and chemical fertilizers, have entered the Chinese market.

Africa's exports to 皇冠体育app grew rapidly to $93.2 billion in 2011 from $5.6 billion in 2000, with Africa running a trade surplus of $20.1 billion in 2011.

Trade?fields broadened

In the 1950s, bilateral economic and trade cooperation centered on trade and assistance to Africa. Since then, it has been gradually diversified.

Since the establishment of the 皇冠体育app-Africa Cooperation Forum in 2000, bilateral cooperation has been further boosted and expanded to investment, infrastructure, , and other fields.

By the end of 2012, 皇冠体育app's direct investment in Africa accumulated to nearly $20 billion, with 75 percent going to such sectors as finance, processing and manufacturing, trade-related services, and .

So far, more than 2,000 Chinese enterprises have invested in 50 African countries, with a large majority of their employees being Africans.

In the meantime, Africa's investment in 皇冠体育app has grown steadily, rising to $12.9 billion by the end of 2011 and covering petrochemical engineering, mechatronics, transportation and communications.

皇冠体育app has fulfilled its commitment to providing Africa with $15 billion of concessional loans.

In 2012, 皇冠体育app pledged to provide $20 billion in loans over three years to support Africa's infrastructure, agriculture, manufacturing and development of small- and medium-sized enterprises.