Africa expands trade presence in east Chinese city

Trade between between African countries and the eastern Chinese city of Yiwu increased by 20 fold, while the city's imports from the continent rose by 30 fold in the past half decade.

Local companies from the city have also invested 39 million U.S. dollars in seven African countries by the end of 2015, about 16 percent of the city's overseas investment, according to Yiwu Deputy Mayor Xiong Tao during the fifth China-Africa Think Tanks Forum, which was held over the weekend.

Last year, imports and exports between African countries and Yiwu reached 49.8 billion yuan (7.7 billion U.S. dollars), up 49 percent year on year, accounting for 2.7 percent of China's total trade volume with Africa.

"Africa is Yiwu's second largest continent-level trade partner after Asia, accounting for 23 percent of the foreign trade," Xiong said.

Yiwu is the world's largest wholesale market for small consumer goods. More than 3,000 African merchants are stationed in Yiwu and nearly 300 Africans study here. The city reports 80,000 buyers from Africa every year.

Besides, over 5,000 kinds of products from 29 African countries and regions are available at Yiwu International Trade City. Endi