Chinese investment in Africa not a threat: MOC

BEIJING - China's increasing investment in Africa is not a threat to the continent but a boost to the region's self-development, said spokesperson of the Ministry of Commerce (MOC) on Wednesday in response to doubts on China's intention on its investment.

"China has always been and will remain a trustworthy friend of Africa," said MOC spokesperson Shen Danyang, "the accusations of 'Chinese menace' and 'neocolonialism' are completely unfounded and will not be believed."

China has been the biggest trade partner of Africa for six consecutive years. The country's outbound direct investment to Africa has been increasing 37 percent on average in the last 15 years and the areas of cooperation have expanded to new fields such as finance, tourism, and telecom.

The investment in Africa has been helping the continent reduce poverty, lift employment and increase tax revenues for local governments, Shen said.

The statement came before the Forum on China-Africa Cooperation that will take place in Johannesburg, South Africa on Dec. 4-5. A summit of the forum will be held and is expected to be a milestone for China-Africa cooperation, the MOC said.