China's policy is welcomed by Africa

Indeed many here in Africa are following keenly the political developments in China because the last ten years have not only witnessed rapid growth in China but also signalled a vigorous development of China-Africa friendship and co-operation. This partnership is felt across the continent particularly in regards to the effect China's investment has had on Africa's economic transformation in the last decade.

In the coming week, Africa will be particularly interested in a continuation of China's trade and investment. In 2009, China surpassed the United States as Africa's largest trading partner. China has taken a two pronged approach in its economic relations with Africa, offering development loans to oil and mineral-rich countries like Angola, but also developing special trade and economic cooperation zones in several poorer countries, to improve poor infrastructure.

Africa's economic growth is projected on average at 6% annually to 2015, as a result of this approach by China, investing in both wealthier and poorer African countries. In the last decade, China has seen a dramatic increase in trade with sub-Saharan African countries, with China's total trade in goods now surpassing U.S. trade with the region. China- Africa trade has soared from $10 billion in 2000 to $166 billion in 2011, and is expected to exceed $200 billion in 2012 and $300 billion by 2015. China's investment into Africa could rise by 70% to $50 billion by 2015 .

Direct Chinese aid to African countries is tiny, but Chinese lending to Africa is growing at a rate of leaps and bounds and according to available data, China's Development Bank and China Exim Bank have overtaken the World Bank as Africa's biggest lenders.

Another area that will be of interest to Africa is China's foreign policy.China-Africa friendship is embedded in the long history of interchange. And Africa will expect to continue figuring prominently in China's foreign policy agenda against a background of changing geopolitical dynamics. During her recent visit to China, the AUC chairperson put a pointer to Africa's expectations, expressing Africa's hope of a boost in cooperation with China to further advance the Africa-China relations.

The AU has welcomed China as an important strategic partner in Africa's push for modernization and sustainable development. China has also made it clear that it respects African countries' independent choice of the road of development and supports African countries' efforts to grow stronger through unity. It's policy of 'non-interference' and no strings attached to its financial and technical assistance has been welcomed by Africa's leadership.