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Trade between China, Africa rises 40.5% in first seven months

Updated: Sep 03,2021 19:55    Xinhua

BEIJING — Trade between China and Africa rose 40.5 percent year-on-year to $139.1 billion in the first seven months of the year, Chinese Vice-Minister of Commerce Qian Keming said on Sept 3.

China's imports from Africa climbed 46.3 percent year-on-year to $59.3 billion in the first seven months, with imports of rubber, cotton, coffee and other agricultural products doubling from the same period last year, Qian said at a press conference on the impending second China-Africa Economic and Trade Expo.

China's direct investment in Africa reached $2.07 billion in the first seven months, outperforming the pre-pandemic level in the same period of 2019, Qian said.

Chinese enterprises and African businesses have boosted cooperation on industrial and supply chains, construction of industrial clusters on manufacturing, agriculture, medicine and health, and exploration on emerging sectors such as clean energy, digital economy and 5G, he noted.

The second China-Africa Economic and Trade Expo will be held in Changsha, the capital city of Hunan province, from Sept 26 to 29, with a slew of online and offline activities.

Against the backdrop of the COVID-19 pandemic, the expo will build a cloud platform to hold online conferences, exhibitions and transactions. A report on China-Africa economic and trade relations is expected to be released at the expo.