China deepens investment footprint

摘要

China used the Forum on China-Africa Co-operation summit in Beijing this month to deepen its ties with Africa, including its leading oil and gas exporters. Chinese president Xi Jinping committed to providing a further $60bn in funding to African governments over the next three years. This includes $15bn in interest-free loans, $20bn of credit lines and a special $10bn fund for develop- ment financing. Most of the funding will be used for infrastructure projects related to China’s Belt and Road Initiative, which aims to boost trade.