Full text: China's African Policy
(Xinhua)
Updated: 2006-01-12 16:25

2. The economic field

(1) Trade

The Chinese Government will adopt more effective measures to facilitate African commodities' access to Chinese market and fulfill its promise to grant duty-free treatment to some goods from the least developed African countries, with a view of expanding and balancing bilateral trade and optimizing trade structure. It intends to settle trade disputes and frictions properly through bilateral or multilateral friendly consultation, mutual understanding and mutual accommodation. Efforts will be made to encourage business communities on both sides to set up China-Africa Joint Chamber of Commerce and Industry. When conditions are ripe, China is willing to negotiate Free Trade Agreement (FTA) with African countries and African regional organizations.

(2) Investment

The Chinese Government encourages and supports Chinese enterprises' investment and business in Africa, and will continue to provide preferential loans and buyer credits to this end. The Chinese Government is ready to explore new channels and new ways for promoting investment cooperation with African countries, and will continue to formulate and improve relevant policies, provide guidance and service and offer convenience. African countries are welcome to make investment in China. The Chinese Government will continue to negotiate, conclude and implement the Agreement on Bilateral Facilitation and Protection of Investment and the Agreement on Avoidance of Double Taxation with African Countries. The two sides should work together to create a favorable environment for investment and cooperation and protect the legitimate rights and interests of investors from both sides.

(3) Financial cooperation

To further develop China-Africa cooperation in the area of finance, the Chinese Government will support the effort of Chinese financial institutions to increase exchanges and cooperation with their counterparts in African countries as well as regional financial institutions in Africa.

(4) Agricultural cooperation

China intends to further promote its agricultural cooperation and exchanges with African nations at various levels, through multiple channels and in various forms. Focus will be laid on the cooperation in land development, agricultural plantation, breeding technologies, food security, agricultural machinery and the processing of agricultural and side-line products. China will intensify cooperation in agricultural technology, organize training courses of practical agricultural technologies, carry out experimental and demonstrative agricultural technology projects in Africa and speed up the formulation of China-Africa Agricultural Cooperation Program.

(5) Infrastructure

The Chinese Government will step up China-Africa cooperation in transportation, telecommunications, water conservancy, electricity and other types of infrastructure. It will vigorously encourage Chinese enterprises to participate in the building of infrastructure in African countries, scale up their contracts, and gradually establish multilateral and bilateral mechanisms on contractual projects. Efforts will be made to strengthen technology and management cooperation, focusing on the capacity-building of African nations.

(6) Resources cooperation

The Chinese Government facilitates information sharing and cooperation with Africa in resources areas. It encourages and supports competent Chinese enterprises to cooperate with African nations in various ways on the basis of the principle of mutual benefit and common development, to develop and exploit rationally their resources, with a view of helping African countries to translate their advantages in resources to competitive strength, and realize sustainable development in their own countries and the continent as a whole.

(7) Tourism cooperation

China will implement the program of Chinese citizens' group tour to some African nations and, grant more African countries, as they wish and as far as feasible, Approved Destination Status for out-bound Chinese tourist groups. China welcomes citizens from African nations for a tour of the country.

(8) Debt reduction and relief

China is ready to continue friendly consultation with some African countries to seek solution to, or reduction of, the debts they owe to China. It will urge the international community, developed countries in particular, to take more substantial action on the issue of debt reduction and relief for African nations.

(9) Economic assistance

In light of its own financial capacity and economic situation, China will do its best to provide and gradually increase assistance to African nations with no political strings attached.

(10) Multilateral cooperation

China is ready to enhance consultation and coordination with Africa within multilateral trade systems and financial institutions and work together to urge the United Nations and other international organizations to pay more attention to the question of economic development, promote South-South cooperation, push forward the establishment of a just and rational multilateral trade system and make the voices of developing countries heard in the decision-making of international financial affairs. It will step up cooperation with other countries and international organizations to support the development of Africa and help realize Millennium Development Goals in Africa.