Trade between China and Africa surged 43.5% year-on-year in the first 11 months of 2010, Beijing said on Thursday as it pledged to further strengthen ties with the continent. The value of two-way trade reached $114.8bn from January to November, the state council, or cabinet, said in a report on Sino-African economic and trade cooperation.
The world's second-largest economy has steadily been beefing up ties with Africa, which is rich in the energy resources and raw materials China needs to fuel its breakneck growth.
After trade grew at an average rate of 33.5% annually between 2000 and 2008, China became Africa's largest trade partner last year even though exchanges declined due to the global financial crisis, it said. More on fin24.com