China defends Africa, US investments | business | Hindustan Times
Today in New Delhi, India
Dec 06, 2016-Tuesday
-°C
New Delhi
  • Humidity
    -
  • Wind
    -

China defends Africa, US investments

business Updated: Nov 01, 2010 23:00 IST
Highlight Story

China defended its growing global commercial presence as a source of jobs in Africa and the United States amid tension over resources and Zambia’s arrest of two Chinese managers who shot miners during a pay dispute.

Chinese companies invested $56.5 billion abroad last year and hired 438,000 workers, many of them in developing countries, officials said at a conference on Monday. “Chinese investors have brought not only capital and technology but also job opportunities and tax revenue,” said deputy commerce minister Chen Jian.

Governments in Africa, Latin America and elsewhere have welcomed Chinese investment in mining and other industries. But in some economies, the Chinese presence has sparked tensions over control of oil, gas and other resources. AP