China-Africa trade to exceed US$100b

BILATERAL trade between China and Africa will exceed US$100 billion in 2008, two years earlier than expected, the General Administration of Customs said yesterday.

The forecast was based on first-half figures, which showed that bilateral trade grew almost 66 percent year on year to US$53.14 billion. The growth rate was about 40 percentage points higher than the year-earlier level. The total included US$23 billion in exports to Africa, up 40 percent, and about US$30 billion in imports, up about 92 percent.