Chiina /CGG Chinese companies investing in Africa, particularly in energy and mining industries where jobs can be created and local communities improved.
Zhong Manying, director general of the Department of West Asian and African Affairs of the Ministry of Commerce, said on Wednesday that during the recent visit to the continent by President Xi Jinping, more than 20 economic and trade cooperation agreements were sealed with African countries.
Chinese financial institutions and companies also finalized around 10 commercial contracts, in sectors including agriculture, machinery, power, ports, energy and mining resources.
"In the past, China imported minerals and crude oil directly from Africa - but now we are investing more in downstream mineral processing businesses there, in order to bring more jobs to local people and improve local economies," Zhong said.
According to the China Institute of International Studies, energy exploration technology levels remain relatively low in Africa, and much of the prospecting is still done by foreign companies.
Updated: 2013-04-11 China and Mongolia have broad prospects to deepen cooperation in mineral resources and energy, a senior Chinese official said Tuesday.
Zhang Xiaoqiang, deputy director of China's National Development and Reform Commission, said the two countries should enhance cooperation in mining and energy areas through joint development of big mining projects and construction of transportation infrastructure.
Zhang made the remarks at the third meeting of the China-Mongolia cooperation commission on mineral resources and energy.
Boosting cooperation in mineral resources and energy, which account for the bulk of China-Mongolia economic and trade relations, is in the interests of both countries and can help Mongolia turn its advantages in resources into economic development, Zhang said.
Mongolian Mining Minister D. Gankhuyag highlighted the rapid development of Mongolia-China economic and trade cooperation, saying that Mongolia has seen Chinese investment rapidly increasing in the country in the last few years9 Xinhua)
China's mining and metals companies are taking advantage of global caution to seize merger and acquisition opportunities in the sector in overseas markets, experts at Ernst & Young Global Ltd said on Monday.
The first nine months of this year saw 684 deals worth a combined $76.8 billion in the global mining and metals sector!(China Daily)
China do a 6 trillion new stimulus and put 3 trillion in CGG
and use it for africa and Russia and Mongolia !