In spite of Chinese economic decrease in this fiscal year China is still spending huge in Africa specially in inking trade deals, investing in mining and infrastructure. They are also offering aid programme to many African governments.
In very recently China’s president Xi Jinping agreed to invest $6.5 billion in South Africa.
China is now the world second largest economy after United States. Actually China is investing and helping the energy industries of Africa. Over the last few decades China is trying to have access to the Africa’s affluent natural resources. As China is one of the highest economic growing country so it has a large demand of energy and raw materials.
According to the Brookings institution China‘s direct investment in this running year is about $26 billion. Under the power of Xi, China has achieved some milestone success in Africa. Already China has issued at least $10 billion in loans to African countries as part of their foreign funding package. They give more priorities in infrastructure, agriculture and manufacturing sectors. On the other hand Africa is starting more developments projects and welcoming China’s funding.
China is taking an action to finance up to $1 trillion dollar by 2025.
China’s trade relations in Africa are growing dramatically. China passed US in 2009 , as the highest economic partner. According to Brookings, China’s trade in Africa hit about $200 billion in 2012 which was a milestone for China.