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China doubles loans to Africa to $20 billion

China's President Hu Jintao said that Beijing will provide a new loan of $ 2,000,000,000, to Africa, the Asian powers are increasing emphasis on resource-rich continent.
Commitment to the China - Africa Cooperation (Thursday) at the Beijing Forum, Beijing agreed to double the amount of the Forum to Africa in 2009.
Hu said the loan will focus on supporting infrastructure, manufacturing, and small enterprise development in Africa, although he did not have a specified period of time, they will cover.
"The fate of China and African countries is closely linked to the friendship between China and African countries have been deeply rooted in the hearts of the people on both sides," he said, the audience of African leaders to provide an open address.
"China's sincere support to African countries as they pursue their own path of development, will sincerely help African countries to strengthen the capacity of its independent development."
Hu also promised support for Africa's professionals and students, health care, customs and financial assistance and training of the African Union Scholarship.
Beijing participation in Africa can be traced back 60 years ago, when Chinese workers arrived at the laying of tracks and roads.
But has been in Beijing has been trying to break into Africa's natural resources investment boom in the past 15 years, to become China's largest trading partner in 2009.
Trade between the Asian powers and the mainland reached a record of 166.3 billion U.S. dollars last year, from less than $ 20 billion dollars a decade ago, 83 percent in 2009, according to government data.
Africa's rich natural resources are its main exports to China, which requires minerals, to promote its huge economic growth, while the mainland's major import commodities are machinery or electrical products.
United Nations Secretary-General Ban Ki-moon, in the forum in Beijing on Thursday to speak, said the cooperation with China to create opportunities for African countries to diversify their economies, create employment opportunities and improve health care and education.
South African President Jacob Zuma thanked China for its treatment of African countries as "equals", but he warned against allowing unequal trade relations, adhere to the main provider of raw materials in Africa.
"This trade pattern is maintained in the long run, he said:" China - Africa Cooperation Forum.
"In the past experience of the African and European economy needs to enter into partnerships with other economies to be cautious.
"We are particularly pleased that we are equal in our relationship with China, entered into the agreement is mutual gain."
Experts strict extract the raw material resources and infrastructure investment interest, the interests of the Chinese mainland are increasingly being transferred to the investment institutions and government.
Sometimes to the confrontational tactics of the continent caused by the friction of the locals, but some complain Chinese companies to import their own workers, contempt of labor law and abuse of local employees.
Dig into the anti-China mood to fight for Zambia, the incumbent president, took office in 2011, one year after the two Chinese managers shot and killed 11 local workers in the past to protest low wages and working conditions.
Earlier this year, acknowledged that the problems in Namibia, Chinese Foreign Minister Yang Jiechi.
"I am not saying that a Chinese company, in a perfect way to performance. If not, I hope to Namibia to tell us, we do our utmost to solve it," he said. "We tell our business here adhere to the law."



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