China Establishing Two New Investment Funds for Africa

China Daily recently announced plans by the China-Africa Business Council and the China-Africa Development Fund (CADF) to establish two new funds this year to increase China's investment in Africa.  One fund is for commercial ventures and the other for mining investment. Each fund is expected to raise $1 billion initially from member companies and the CADF.  The purpose is to provide capital for Chinese enterprises seeking investment opportunities in Africa.