by Yu Shengnan, Guo Qian
NAIROBI, Dec. 19 (Xinhua) -- China-Africa new strategic partnership continues to develop rapidly in the second decade of the new century with frequent high-level visits and successful expansion of political, economic, and cultural cooperation.
The cooperation has effectively promoted the economic and social development in the African countries and China, improving people's living standard, and shows its significance in a world that is undergoing major changes and adjustments.
BROADER ECONOMIC COOPERATION
The further broadened economic cooperation and trade relations between China and Africa in 2011 has pushed the economic development of China and African nations, bringing tangible benefits to the peoples.
China has become the largest trading partner of Africa and Africa stands as China's fourth largest investment destination. According to Chinese Ministry of Commerce latest data, China- Africa trade volume reached 122.2 billion U.S. dollars in the first three quarters of this year, attaining a year-on-year growth of 30 percent. The trade volume reached 126.9 billion U.S. dollars last year, and is expected to reach 150 billion - 160 billion U.S. dollars this year.