Friday 24 November 2017

China-Africa trade surges 19 pct in H1

China-Africa trade surges 19 pct in H1
(Xinhuanet 08/03/17)
China-Africa trade surges 19 pct in H1

Trade between China and Africa reached 85.3 billion U.S. dollars in H1, surging 19 percent year on year as the two sides strengthened cooperation in a wide range of areas, official data showed Thursday.
The data reversed the negative growth trend since 2015, according to Gao Feng, spokesperson with the Ministry of Commerce.

During January-June, Chinese imports from Africa, including minerals, agricultural products and fruits, amounted to 38.4 billion U.S. dollars, jumping 46 percent from the same period last year, while exports gained 3 percent to 47 billion U.S. dollars.
Transport equipment has become a bright spot in China's exports to African countries, with that of ships, trains and aerospace equipment up 200 percent, 161 percent and 252 percent respectively, thanks to stronger project construction cooperation.
In May, Kenya's Mombasa-Nairobi Standard Gauge Railway launched, becoming the newest addition to a list of Chinese-built railways in Africa.
China became Africa's largest trade partner in 2009, and the scale of bilateral trade has expanded rapidly ever since.

Trade with the region's top three trading partners -- South Africa, Angola and Nigeria -- went up 28 percent, 67 percent and 22 percent, respectively in the first six months.
In terms of investment, Chinese business non-financial investment in Africa came in at 1.6 billion U.S. dollars in the first six months, up 22 percent year on year.

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