Zhong Manying, director general of the department of West Asian and African affairs at China's Ministry of Commerce (MOC), has stated that China will continue to expand its investments in Africa, especially in the mining, finance, aerospace and renewable resources sectors.
As indicated by Mr. Zhong, under the influence of the global financial crisis and uncertainties in the African economy, the year-on-year increase in China's total investments in Africa in the current year is expected to be lower than the year-on-year growth observed in 2009.
On October 14, China's Ministry of Commerce released a report on business relations between Africa and China in 2010, according to which it is expected that the total trade volume between the two sides in the current year will reach or even exceed the historic peak recorded in 2008, i.e., $106.8 billion.
In 2009, the bilateral trade volume between China and Africa came to $91.07 billion, making China the largest trading partner of Africa.