China’s Oil Discoveries – 1.08 Billion Tons

China’s voracious energy needs have been a source of concern for government officials for years. Ironically, China was a net oil exporter until the early 1990s and became the world’s second-largest net importer of crude oil and petroleum products in 2009. In 2010 it became the largest global energy consumer.

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In 2014 Chinese-African trade will surpass $200 billion

On 20 February, Chinese President Xi Jinping, hosting Senegalese visiting President Macky Sall in Beijing said, “In 2013, Chinese-African trade surpassed $200 billion for the first time, making China Africa’s biggest trading partner. That all stands witness to the endlessly renewed vitality of Sino-African friendship, to the scale of the potential for cooperation and the excellent outlook for the new kind of Sino-African strategic partnership.” Xi added that that Chinese direct investment in Africa grew 44 percent.

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