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World NewsChina strengthens ties with AfricaChina and Africa ended an unprecedented summit Nov. 5, signing deals worth $1.9 billion (¥224 billion) and promising to increase trade and development between the world's fastest-growing economy and its poorest continent. Chinese President Hu Jintao also pledged to double China's aid to Africa from its 2006 level by 2009. He promised $3 billion (¥353 billion) in loans, $2 billion (¥235 billion) in export credits and a $5 billion (¥588 billion) fund to encourage Chinese investment in Africa. This is part of Beijing's efforts to strengthen ties with Africa amid China's search for new oil sources and export markets. (AP)
Shukan ST: Nov. 17, 2006 (C) All rights reserved |