China's policies to Lusophone (Portuguese-speaking) African states have been "mutually beneficial" and Beijing's cooperation with these countries is growing in a positive manner claim Chinese diplomats.
Lu Guozeng, assistant foreign minister, said at the presentation of China's first policy paper on Africa that an important area of cooperation between Beijing and the Portuguese-speaking African Countries (PALOP) is provision of development funds in exchange for natural resources.
He gave Angola as an example of this type of relationship, noting that Luanda "wants to develop its infrastructures but lacks funds". Chinese oil-backed loans have financed a range of post-war rebuilding projects in Angola, explained Lu.
China's rapidly expanding economy is thirsty for natural resources, particularly oil, he admitted.
Angola was China's second largest trading partner in Africa in 2005, exporting goods and products worth about US$ 3.5 billion in return for US$ 196 million worth of Chinese imports.
The Chinese diplomat also praised the China-Lusophone Economic Forum set up in 2003, saying the Macau-based organisation had a "very promising" future.
Beijing created the forum to boost trade and investment with the Community of Portuguese-speaking Countries (CPLP), with the exception of one member of the eight-nation bloc – Sao Tome and Principe, because of its diplomatic ties with Taiwan.
China's new policy for Africa is based on "sincerity, equality, mutual benefit, solidarity and common development" in cooperation projects in 30 fields, Beijing officials said.