Chinese Premier Wen Jiabao attended a press conference and answered media's questions following the opening ceremony of the Fourth Ministerial Meeting of the Forum on China-Africa Cooperation (FOCAC) on Sunday in the Egyptian resort of Sharm el-Sheikh.

The following is the full text of Wen's press conference.

Wen Jiabao: Friends from the press, good afternoon. Sharm El Sheikh is beautiful. The host told me that it would take at least seven days to fully enjoy the city. But I have only less than twenty-four hours. During my stay here I attended the opening ceremony of an important meeting, the Fourth FOCAC Ministerial Conference. I met with thirteen leaders from African countries. Now I have set aside some time to meet with the press and answer your questions.

I. Egyptian newspaper Pyramids: You have announced at the opening ceremony of the Forum eight new measures for developing China-Africa cooperation. In 2006, Chinese President Hu Jintao announced at the FOCAC Beijing Summit eight measures to strengthen China-Africa practical cooperation. What are the differences and similarities between theses measures? What role will these measures play in promoting China-Africa relations?

My second question is: During your stay in Egypt, you met the Egyptian President and Prime Minister. You have also talked to the Egyptian people. What are the topics you discussed during these meetings? What is your impression of the Egyptian civilization?

Wen: During the FOCAC Beijing Summit in 2006, President Hu Jintao announced on behalf of the Chinese government eight measures to strengthen China-Africa practical cooperation and support the development of African countries. Reviewing the progress of the last three years, the eight measures have basically been implemented. The eight new measures that I announced this morning at the opening ceremony of the Fourth FOCAC Ministerial Conference are aimed at the same goal of improving the capacity of African countries for self-development. The new measures focus more on the improvement of people's well-being, health care, education and other social development programs, the construction of agricultural and basic infrastructures, and the protection of eco-environment. For instance, we have proposed to help African countries build 100 clean energy projects like solar power, biogas, and small hydro-power plants, provide RMB500 million yuan worth of medical equipment and malaria-fighting materials to thirty hospitals and thirty malaria prevention and control centers built by China, build fifty schools, and help Africa train more personnel.

I had an in depth exchange of views with Egyptian President Mubarak. We both agreed that following the establishment of strategic and cooperative relations between the two countries in 1999 and the formulation of the Implementation Outline for Deepening Strategic and Cooperative Relations Between China and Egypt in 2006, China-Egypt relations have entered a new stage or development. This is manifested in stronger political mutual trust, further growth of economic and trade cooperation, and more active exchanges in culture and education. Both Egypt and China are ancient civilizations. Egypt was the first African and Arab country to recognize New China. It was also the first to establish strategic cooperative relations with China. The consolidation and development of China-Egypt friendly and cooperative relations will not only benefit our two peoples, but also promote China's relationship with African and Arab countries.

II. Business Daily, South Africa: Due to the international financial crisis, G8 members and other developed countries are slowing down their delivery of fiscal and financial assistance to developing countries as they had committed. Countries in Africa have also suffered adverse impacts from the financial crisis. Will China take measures to help African countries cope with the financial crisis?

Another question, we are lagging behind schedule in implementing the Millennium Development Goals (MDGs). Do you still see any possibility for the international community to meet the MDGs on schedule through cooperation?

Wen: The current international financial crisis is unprecedented in the course of last one hundred years. It has not only exerted serious impact on developed countries, but also brought grave consequences to developing countries, particularly the least developed ones. Due to the international financial crisis, some banks are downsizing their loans for African countries. However, China has promised that it will not cut its assistance or decrease its credit and loan support to African countries and other developing countries. I announced at the opening ceremony of the Fourth FOCAC Ministerial Conference the plan to give U.S.$10 billion preferential loans to support African countries.

In the global financial crisis, what people tend to easily ignore is the implementation of the Millennium Development Goals. On many occasions including the UN meetings last year and this year's World Economic Forum in Davos, I appealed to the international community to place importance on the implementation of the MDGs and the support and assistance to developing countries, the least developed ones in particular. It seems to me this issue remains serious. Here I would like to once again appear to the international community to work hard with firm determination and effective measures to reach the MDGs while tackling the global financial crisis.

III. Macao Asia Satellite TV: You have visited the training center of Huawei and the factory of the Brilliance Auto. At the opening ceremony of today's conference, when you announced eight new measures to strengthen China-Africa cooperation in the coming three years, you mentioned the development of new energy resources and projects for environmental protection and energy conservation. In fact, there have been quite a few Chinese enterprises specialized in this field. Do you believe we will see more success stories like that of the Brilliance Auto in Africa?

Wen: Many people are trying to offer prescriptions for Africa's development, such as the "Washington Consensus" or the "Beijing Model." Yet it seems to me that Africa's development should be based on its own conditions and should follow its own path, that is, the African Model. All countries have to learn from other countries' experience in development. At the same time, they have to follow a path suited to their own national conditions and based on the reality of their own countries. In the final analysis, the development of a country depends on the efforts of its own people. Any enterprise that wants to do business in Africa has to take account of local conditions.

IV. Reuters: Some people said that China is only interested in the natural resources of Africa, that China has exploited the African people while plundering Africa's natural resources. How do you respond to such criticism?

Second question, you once mentioned that you were concerned about the security of China's investment in the United States. Now more than seven months later, is your concern growing or abating?

Wen: There has long been the argument that China is plundering Africa's resources and pursuing the so-called "neo-colonialism." This is not worth refuting. Any one who is familiar with history would know that the friendly relations and cooperation between China and Africa did not start just yesterday but as early as half a century ago. In those years, we helped Africa build the Tanzara railway and sent to Africa large numbers of medical teams. But we did not take away a single drop of oil or a single ton of mineral ores from Africa. Objectively, what changes has China brought to Africa through its assistance measures? Since 2006, thanks to the implementation of the eight measures, more African products have entered the Chinese market and the annual trade volume between China and Africa has surged from more than U.S.$50 billion to more than U.S.$100 billion. Under the impact of the international financial crisis, the whole world has experienced investment downturn. However, in the first three quarters of 2009, China's investment in Africa increased by 77 percent. China has helped Africa build many schools, hospitals, and malaria prevention and treatment centers, which benefited more than 100 million African people. In fact, China's assistance to Africa has never had any political strings attached. We believe the destiny of a country is in the hands of its people.

In terms of energy, I want to tell this journalist, China is not the largest importer of Africa's oil. Our import takes up only13 percent of Africa's oil export. China's investment in Africa's oil and natural gas accounts for less than 1/16 of the global investment in this field. CNPC is China's largest petroleum company. But its annual turnover is less than 1/3 of ExxonMobile. Why should China be singled out for criticism? Is this an African view point or rather a Western viewpoint? A line from a Chinese poem is sufficient to respond to this question: "A time-honored friendship is like the gold. After repeated smelting, it keeps its true color."

For your second question, I did say at the World Economic Forum in Davos this year that we were concerned about China's foreign exchange assets in the United States, because it is China's money. Our principle for the foreign exchange reserve is to ensure its security, liquidity and good value. Now the U.S. economy is showing signs of recovery and we have seen positive changes. We hope that the United States, as the largest economy and the major reserve currency issuing country, will fulfill its responsibilities with concrete measures. Most importantly, it should keep its deficit within a proper scale and ensure the basic stability of its exchange rate. This will facilitate stability and recovery of the world economy.