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Wen: China will keep all its promises to Africa

(Shanghai Daily)
Updated: 2007-05-16 13:47

Chinese Premier Wen Jiabao speaks during the opening ceremony of the 2007 Annual Meetings of the Boards of Governors of the African Development Bank (ADB) Group in Shanghai May 16, 2007. [Shanghai Daily]

China unreservedly supports the peaceful development of African countries and will strengthen its ties with Africa through government aid and corporate cooperation, Chinese Premier Wen Jiabao said today in Shanghai.

China will fully carry out its promise in cooperating with African countries, Wen said at the 2007 Annual Meeting of the Board of Governors of the African Development Bank Group. The two-day meeting will wrap up tomorrow.

"China has a deep friendship with African countries and sincerely supports the peaceful development of Africa," Wen said.

China has completed more than 900 infrastructure and public projects to support Africa over the past 50-plus years. China has granted government scholarships to almost 20,000 people from 50 African countries and sent about 16,000 medical professionals to 47 African countries.

China has remitted a combined 10.9 billion yuan (US$1.42 billion) in debt owed by African countries and another 10-billion-plus yuan in debt cuts is under way.

Further cooperation will be made in areas such as agriculture, education, medicine and environmental protection.

The China-Africa cooperation program needs innovation to make it a win-win tie, Wen said. Besides government assistance, policy-driven company involvement on the continent is another means, Wen said.

The involvement of corporations in the market will boost higher levels of investment and loan efficiency, Wen said.

Zhou Xiaochuan, governor of the People's Bank of China, said yesterday that China will encourage companies, especially small and medium-sized firms, to seek investment opportunities on the continent and will welcome African financial players to set their footprints in China.

The development of African countries is full of opportunities and challenges. Africa's development derives from its own endeavors and the aid and support of the global community, he said.