At the ongoing China Beijing International Fair for Trade in Services, Cheng Zhigang, Secretary-General, China Africa Industrial Forum said there will be increased partnership between China and Africa. He encouraged the Chinese to make more investments in Africa.
According to him, many benefits abound in such investments, including the low-cost of labor and land in Africa, the exclusive beneficial policies for Chinese investors and the deep, long-standing friendship between African and Chinese people
“I think that entrepreneurs need to have a long-term vision and extraordinary courage when investing in Africa because the industries in most African countries are in the rising stage, like China in the 1980s,” Cheng said.
“Most Chinese companies want to step out of China, but what they are concerned about is the security of foreign countries and investment risks,” Cheng said.
Founded in 2000 under FOCAC, the China Africa Industrial Forum aims to facilitate multi-faceted cooperation between China and Africa. The Forum has set up a legal affairs department to provide advice on avoiding investment risks. The Forum also helps resolves problems encountered by Chinese investors
“In 2017, I believe that Chinese-African trade will catch up with the volume seen in 2014. I hope that Chinese investors will have a specific target,” Cheng said.