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China would also provide three billion dollars of preferential loans and two billion dollars of preferential buyer's credits loan to the continent, he said.
Beijing would also cancel more debt owed by poor African countries in the form of interest-free government loans, he announced. Business is a major focus of the summit, with more than 2,500 deals under discussion.
Hu pledged China would further open up its market to Africa by increasing the number of tariff-free export products from 190 to 440 and establish three to five trade and economic cooperation zones in Africa.
A five-billion-dollar development fund to encourage Chinese companies to invest in Africa would also be set up.
Beijing will also train 15,000 African professionals, build schools, hospitals and anti-malaria clinics and send Chinese youth volunteers to Africa, he added.
Trade between China and Africa is expected to exceed US$50 billion this year, a near tenfold increase since 1995, and one of the main themes of the China-Africa Forum is ensuring that number continues to grow.
http://forum.globaltimes.cn/forum/showthread.php?p=15276#post15276
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