Capital Intensive China

Building the African relationship

  • Published 12 Nov 2009

By the end of the year, total investment in Africa could reach as much as 10% of China's total overseas direct investment.

It is just over seven years since Jiang Zemin, the then president, exhorted Chinese companies to “go out”. In that time, they have emphatically answered his call, realising more than $184bn (Rmb 1,256bn, €122.4bn, £110.6bn) in overseas direct investment by the end of 2008, according to the National Development and Reform Commission. All signs are that 2009 could be one of the biggest outward investment years yet. Since 2005, Africa has become a focal point of the Chinese overseas investment push.

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