Sino-African trade to surpass $100 billion

Sino-African trade value is on its way to exceed billions of dollars by the end of the year, said vice minister of commerce Wang Chao at a meeting with African medium-sized and small enterprises (SMEs) Wednesday.

China is now Africa's biggest trading partner. In the first half of 2010, trade with the continent increased 65 percent on a year-on-year basis, reaching $61.2 billion.

Currently there are more than 1,600 Chinese enterprises investing in Africa, touching upon fields of agriculture, mining industry, manufacturing, infrastructure and commerce.

Apart from commercial trading, the two sides are striving for collaborations on new energy, travel, education and poverty alleviation.