China-Africa ties benefit both: business leaders

The ties between China and Africa benefit both parties and need to be further strengthened in private sectors, business leaders attending the fifth Global China Business Meeting in Lisbon said Tuesday.

China's investment in Africa has attracted world attention to the continent, and its investment in infrastructure and natural resources has aided African people and contributed to the regional integration, economic experts from China and Morocco said.

Besides cooperation on the governmental level, participants from Africa urged more China-Africa cooperation in the private sectors, mainly in the bank sector to create better financial conditions and promote the growth of enterprises.

Many African participants praised the announcement made by Chinese Prime Minister Wen Jiabao earlier in Egypt of the decision to provide 10 billion U.S. dollars in concessional loans to some African countries, which was among China's eight new measures to assist Africa.

The Global China Business Meeting is the foremost annual gathering of Chinese business leaders and their global counterparts. This year's meeting drew over 400 participants from around the world.

Source: Xinhua