The 3rd Symposium on Private Enterprises Investing in Africa opened in Qingdao City on July 25, 2012.

Speaking about the symposium’s significance, Chen Fei, the director of the United Front Work Department of the Qingdao Municipal Party Committee said: “Under the going-global policy, enterprises in Qingdao are expected to make investments in Africa.” He added: “The Qingdao Sino-Africa Business Council plays an important role in sharing information, choosing projects and overseas training.”

Statistics show that more than 1,900 Qingdao enterprises currently share trade relations with Africa. The city’s total import and export volume with Africa reached US$1.64 billion in the first half of this year.