Xi Jinping promises more giant investments in Africa

Chinese President Xi Jinping has announced that China is prepared to invest an additional USD 60 billion in Africa. He assures that Chinese firms will be encouraged to invest at least USD 10 billion in the continent over the next three years.

Chinese President Xi Jinping cautions against "vanity projects" in Africa and asserts that Chinese assistance in Africa is not neocolonialism.

The Chinese president announced the new round of big investments in the commencement speech of a summit meeting with African leaders. Xi promises that the people on the African continent will be able to see and feel a development that will be both "green and sustainable".

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