Luanda – The Chinese ambassador to Angola, Zhang Bin, said on Thursday, in Luanda, that the volume of investment by Chinese companies in Angola has just exceeded US$24 billion.
During the ceremony commemorating the 75th anniversary of the People's Republic of China, held in one of the hotels in Luanda, the Chinese ambassador reaffirmed that Angola is a strategic cooperation partner of China in Africa.
China-Angola relations have developed satisfactorily over the years, and as an example, he highlighted the holding, last July, in Angola, of the 15th Meeting of Business for Economic and Commercial Cooperation between China and CPLP, with the participation of more than 500 businesspeople.
Alongside this event, he also highlighted the Agreement on the Promotion and Reciprocal Protecion of Investments (APRPI) which came into force in June this year, in addition to the signing of pragmatic cooperation documents in the areas of joint construction of the “Belt and Road Initiative”, economy and trade, agriculture, green development, infrastructure
China-Africa relations
The Chinese ambassador reaffirmed that the China-Africa relationship has been elevated to a community with a shared future.
In this context, the diplomat said that Chinese President Xi Jinping announced that over the next three years China will work with Africa to implement the ten actions of the partnership for modernization.
These actions included the ten areas of mutual learning between civilizations, commercial prosperity, production chain cooperation, connectivity, development cooperation, health, agriculture and people's well-being, exchange between people, green development and common security.
To this end, he said the Chinese government will provide financial support of 360 billion yuan (US$51.5billion) over the next three years.
This includes a 210 billion yuan (US$29.9billion) line of credit and 80 billion yuan (US$11.4billion) of assistance in different channells, and at least 70 billion yuan (US$9.97billion) of investment in Africa by Chinese companies, providing strong support for pragmatic China-Africa cooperation across multiple domains
Several individuals from the political, economic and social arena were at the event.
YD/ART/CF/jmc
