Chinese investment benefits Africa: Yang


    By Fu Jing (China Daily)
    Updated: 2010-03-08 07:41
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    Beijing: The United Sates and Europe have imported far more oil from Africa than China has, said Foreign Minister Yang Jiechi on Sunday, defending China's energy investment in that continent as being mutually beneficial.

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    Yang also said it is unreasonable for some Western countries to oppose the expansion of China's investment in Africa, holding that China is encouraging other countries to boost energy cooperation with African countries on the basis of mutual benefit.

    "I have noticed that some (in the international community) are unwilling to see the sound development of the Sino-African relationship and always play up our energy cooperation," said Yang at a press conference.

    China accounts for just a small part of global energy investment in the continent. "The United States and Europe have invested far more than us," Yang said.

    Africa's oil exports to China accounted for only 13 percent of its total oil exports, lower than the amounts exported to Europe and the US, which both surpassed 30 percent. China's investment in Africa's oil sector accounted for only one-sixteenth of the world's total, which is much less than the amount invested by either Europe or the US.

    In addition, Yang said China's relations with African countries entail more than just cooperation in the energy field. The two sides have already implemented long-lasting cooperation in improving local infrastructure by building roads, bridges, schools, hospitals and other public undertakings.

    Commenting on China's performance in Africa, President of the Republic of Zambia, Rupiah Banda, said: "Chinese investors are the real helping hands for us and their contribution to Africa's economic development is evident."

    In a recent interview, Rwandan President Paul Kagame said: "The Chinese bring what Africa needs: investment and money for governments and companies. China is investing in infrastructure and building roads."

    In contrast, the West's involvement "has not brought Africa forward," the president was quoted as saying. "Western firms have, to a large extent, polluted Africa and they are still doing so. Think of the dumping of nuclear waste in the Ivory Coast or the fact that Somalia is being used as a garbage can by European firms," he added.

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