China will also provide 3 billion U.S. dollars in preferential loans and 2 billion U.S. dollars of export credits over the next three years and establish a special fund of 5 billion U.S. dollars to encourage Chinese investment in Africa.

    Calling these measures "pragmatic and stimulative", Wen made five proposals to entrepreneurs from both China and Africa.

    He said both sides should work closer in service sectors, tourism, finance and telecommunications in particular, to cultivate new economic growth points and facilitate trade in a more balanced and healthier manner.

    He said China will encourage capable and reputed indigenous companies to invest in Africa and spread their technology and management experiences.

    "African companies interested in investing in China are welcome," Wen said.

    African leaders attending the conference also called for expanding trade and promoting cooperation in the business circles.

    Ethiopian Prime Minister Ato Meles Zenawi said business communities could evolve into a crucial force to facilitate cooperation between China and African countries. Without solid support of civil collaboration, Africa-China cooperation may not flourish.

    Gabonese President El Hadj Omar Bongo Ondimba said Central Africa, a peaceful land with 130 million population, has gradually walked out of various difficulties and created a favorable environment for international trade and foreign investment.

    He believes China and African countries will find out new measures at the FOCAC Beijing Summit to further cement cooperation so as to upgrade their strategic partnership to a higher level.

    Nigerien President Mamadou Tandja, also chairman of the Economic Community of West African States, said the economic community wishes to build a more effective partnership with China so as to improve infrastructure systems, fulfill agricultural modernization and lift up industrial competitiveness.

    Lesotho Prime Minister Pakalitha Mosisili, also representing the Southern African Development Community (SADC), said although Africa and China have made great achievements in bilateral economic and trade cooperation, the two still have to increase their trade volume, for the present volume "only accounts for 2.1 percent of China's global trade volume."

    Algerian President Abdelaziz Bouteflika said while expanding trade is one of the prior goals in Africa-China cooperation, investment is crucial in achieving these goals, particularly investment in agriculture, infrastructure, energy and new technology sectors.

    Rwandese President and sitting Chairman of Common Market for Eastern and Southern Africa (COMESA) Paul Kagame said facing challenges in infrastructure, transportation, power and telecommunications, COMESA hopes Chinese companies expand investment in the region.

    COMESA appreciates Chinese government's zero-tariff treatment to some products from Africa, hoping this treatment be expanded tocover more goods from more African countries, he said.

    The COMESA, a huge market striving to eliminate internal tariff and non-tariff barriers, invites Chinese firms to invest in various economic sectors, he said, mentioning the potential in tourism exchanges.

    In order to develop cooperation between business circles of China and Africa, China Council for the Promotion of InternationalTrade (CCPIT) and the Union of African Chambers of Commerce, Industry, Agriculture, and Professions (UACCIAP) will formally set up the China-Africa Joint Chamber of Commerce on Sunday, according to Wan Jifei, chairman of CCPIT.

    The opening ceremony of the two-day conference was chaired by Chinese Minister of Commerce Bo Xilai, which is jointly sponsored by the commerce ministry and CCPIT.

Wen: China-Africa co-op enters new stage of all round development

    BEIJING, Nov. 4 (Xinhua) -- Since the establishment of the Forum on China-Africa Cooperation (FOCAC) in 2000, the China-Africa economic and trade cooperation has entered a new stage of all round development, said Chinese Premier Wen Jiabao here Saturday afternoon.

    Wen made the remark when addressing the High-level Dialogue and second Conference of Chinese and African Entrepreneurs.

    In 2005, the Sino-African trade volume reached 39.7 billion U.S. dollars, almost four times of that in 2000, he said. In the first nine months of this year, bilateral trade volume totaled 40.6 billion U.S. dollars, up 42 percent year on year, according to Wen.

    Although in recent years, China has continuously witnessed trade deficit towards Africa, it still pays great attention to increasing import from Africa, he said.

    China has given zero-tariff treatment to 190 export items from the 28 least developed countries in Africa that have diplomatic ties with China, he said.

    By the end of 2005, China's investment in Africa totaled 6.27 billion U.S. dollars. So far, China has signed investment protection agreements with 28 African countries, and agreements on avoiding double taxation with eight African countries, he said.

    Under the framework of the FOCAC, China undertook 176 whole-set projects concerning roads, schools, hospitals and stadium in 42 African countries, offering timely humanitarian aid to some African regions hit by natural disasters, he said.

    China has canceled debt totaling 10.9 billion yuan (1.4 billionU.S. dollars) owed by the heavily indebted poor countries and the least developed countries in Africa that have diplomatic relations with China, signed 27 framework agreements on preferential loan, and trained about 10,000 professionals for African countries, he said.