Economy
Africa's oil exports to China only account for 13% of total
By Qiang Xiaoji (chinadaily.com.cn)
Updated: 2010-03-07 15:58
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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 Foreign Minister Yang Jiechi said during a news conference at the ongoing Third Session of the National People's Congress on Sunday, xinhuanet.com reported.
Yang also said China's investment in Africa's oil sector accounted for only 1/16 of the world's total investment in African oil, which is also much less than the amount invested by either Europe or the US.
China's relations with African countries entail more than just cooperation in matters of energy, Yang said, and China always encourages any other country to cooperate with African countries in the energy sector based on the principle of mutual benefit.
Yang went on to point out that most of the eight measures proposed by President Hu Jintao in the Beijing Summit of 2006 have been successfully completed, which has promoted cooperation between China and the countries of Africa. Premier Wen Jiabao announced eight new measures put forward by the Chinese government at the ministerial meeting of the Forum on China-Africa Cooperation in Egypt last November.
Relations between China and African countries have entered a stage of "sound development" and will be more "fruitful" in the future, Yang said.
