China is still interested in the expansion of its own businesses in Africa. Hence at the summit held in Beijing, in which took part 50 African leaders, president Hu Jintao made an important announcement. President Hu promised $20bn in credit for Africa over the next three years.
After 16 years of effort and negotiation for securing a membership in the World Trade Organization (WTO) on December 11, 2001, industry leaders in China were perhaps more worried than relieved. A few years later, those industries have not yet been extremely successful, but have done quite well. Today, China is looking forward to buy more products from overseas.