Such a promise from China will play a very active role to offset the impact of financial crisis on Africa, he said.

Ping also praised the new type of Africa-China strategic partnership, based on mutual benefit and win-win cooperation. He said that statistics can prove the much-increased cooperation between Africa and China.

The Africa-China trade volume has surpassed US$100 billion and China has now become Africa's second largest trade partner, he said.

Due to China's huge imports from Africa, Africa now runs a trade surplus against China, he added.

Ping advised Chinese firms to develop Africa's processing industry, stressing that the development of processing industry in Africa will add the value of Africa's raw materials.

Chinese firms will also benefit from processing Africa's raw materials, he said.

Ping took Africa's timber trade for example, and said logging processing on one hand increases the value of logs, on the other hand lowers the cost of maritime transport.

(Xinhua News Agency January 28, 2009)