Ministry of Commerce: China's imports from the least developed countries in Africa increased by 10.2% year-on-year in the first 7 months.

At today's regular press conference of the Ministry of Commerce, spokesperson H Yngqin said that there are many bright spots in current Sino-African economic and trade cooperation. From January to July this year, China's imports from the least developed countries in Africa reached 39.66 billion US dollars, an increase of 10.2% year-on-year. The prosperity of trade has further strengthened the close exchanges between the two sides. H Yngqin stated that industry chain cooperation is driving the improvement of investment in Africa. Recently, the International Monetary Fund released a report "China-Africa Relations: Building Deeper and Wider Connections", pointing out that under the leadership of the Forum on China-Africa Cooperation, China-Africa cooperation has become a key driving force for Africa's current economic growth. Sino-African trade contributes one to two percentage points of growth to the African economy each year, and Chinese investment has increased Africa's local processing rate from 15% to 45%.