‘Chinese Investment in Africa Not a Threat’

China's increasing investment in Africa was not a threat to the continent rather a big boost to the region's self-development.

Shen Danyang, Spokesperson of the Chinese Ministry of Commerce (MOC) said this on Wednesday in Beijing, in response to doubts on China's intention on its investment.

The reaction came on the heels of the Forum on China-Africa Cooperation to hold in Johannesburg, South Africa from Dec. 4 to Dec. 5.

"China has always been and will remain a trustworthy friend of Africa.

``The accusations of 'Chinese menace' and 'neocolonialism' are completely unfounded and will not be believed,’’ he said.

Danyang said that China had been the biggest trade partner of Africa for six consecutive years.

He said that the country's outbound direct investment to Africa had been increasing by 37 per cent on average in the last 15 years and the areas of cooperation had expanded to new fields such as finance, tourism, and telecom.

Shen said that the investment in Africa had been helping the continent reduce poverty, lift employment and increase tax revenues for local governments.