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Thursday, December 21, 2006

Italian Median Thought Chinese Investment Playing a Key Role in Speeding Up Angolan Economic Growth

An article in Italian 24-Hours Sun Newspaper indicated that the economic growth of Angola in recent years was fast with GDP growth of 20.6% in 2005, estimated at 14.6% and 30.2% respectively in 2006 and 2007, for which Chinese huge investment plays a key role. Within three years from 2004 and 2006 China generously offered as much as USD5b loan to Angola. In return China got several contracted projects on infrastructure and construction as well as oil supply from Angola. Only in the first ten months this year China had imported 19.6m tons of crude oil from Angola.


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