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Chinanews, Beijing, May 14 – Senior finance officials in most African countries will gather in China this week to attend the African Development Bank (ADB) 2007 Annual Forum1. As the host country, China will try to make them enjoy their stay in China.
The annual forum will be held in Shanghai from May 16 to 17. As the largest local intergovernmental financial institution, members of the African Development Bank include nearly all African countries and the council members of the organization are made up senior finance officials. This will be the second time that an ADB annual forum is held outside Africa. The first ADB annual forum was held in Spain. Insiders say that the upcoming ADB annual forum will become one that is highest in class and largest in scale. Since last year, China has organized a series of events related with Africa. China hosted the African Summit in Beijing and Chinese President Hu Jintao and Premier2 Wen Jiabao visited African in 2006 and 2007, respectively. These political and diplomatic exchanges have brought fruitful results. As the ADB annual forum will be held in Shanghai, it further shows the good relationship between China and Africa. The annual forum, when it is held in Shanghai, will offer a chance for African senior financial leaders to see with their own eyes how prosperous Shanghai is. It will also provide a chance for Shanghai to attract more African countries to make investment in the city. Leaders from China and Africa can have face-to-face talks with each other at the Sino-African Forum that will be held ahead of the annual forum. When Africa is seeking for support from other countries, China is also making efforts to try to expand its market in other countries. So the business marriage between the two countries fits in easily. As China does not attach any political conditions in its aid to Africa and China offers such aid with great patience and quick action, many African countries are quite impressed by China's effective and low-profile attitudes. In recent years, Sino-African trade has increased tremendously. Last year, trade volume between China and Africa reached 55.5 billion US dollars, up 40% from a year before, being over five times the trade volume in 2000. China has become the third largest trading partner of Africa, only next to the United States and France. China expects that in three years to come, trade volume between the two parties can further reach 100 billion US dollars.
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