After more than half a century of development, Sino-African economic and trade cooperation has created many achievements, benefiting both peoples. Currently, the cooperation has formed a sound pattern of interactive development. Though the global economy is in the doldrums at present, international financial institutions continue to show confidence in the African economy, bringing valuable opportunities for Africa's development and creating a sound environment for the increasingly closer Sino-African ties.

During the 50 years of Sino-African cooperation, we can see innovation has been the impetus of the rapid development of the bilateral economic cooperation.

Previously, the economic and joint trade commission was the key mechanism to link China and African countries in economic cooperation, serving as an important channel for both sides to exchange information, resolve problems and promote cooperation in fields such as trade, investment and labor export.

In October 2000, the Forum on China-Africa Cooperation was formally established, providing a new platform of multilateral dialogue and cooperation. The mechanism is playing important roles in promoting Sino-African economic cooperation, expanding cooperation areas, deepening cooperation levels and innovating cooperation forms. Meanwhile, the China-Africa Business Conference, China-Africa Joint Chamber of Commerce and China-Africa Business Council are also important organizations boosting bilateral economic and trade cooperation.

With the gradual increase of the economic strength of China and Africa, the forms of bilateral cooperation are constantly upgraded from commodity trade and economic assistance to direct investment, labor service and project contracting and then to the establishment of economic cooperation areas. In 2007, the China-Africa Development Fund was established in Beijing, starting a new form of Sino-African cooperation. Currently, the bilateral cooperation covers many fields such as trade, production and processing, resource exploration, transportation, communications and other infrastructures, agriculture and agricultural product comprehensive processing and disease prevention and control.

In terms of China, its cooperation with African countries can ensure the market and supply of raw materials needed for its sustainable economic development. China exports mechanical and electrical products, construction materials, textiles and other light industrial products to Africa, providing business opportunities for related Chinese enterprises. During its cooperation process with African nations, China attaches no conditions and does not interfere in other countries' internal affairs. The practice is warmly applauded by African countries and has attracted attention from the international community, further increasing China's influence in the world.

Through cooperating with China, African countries can share China's development experience and obtain the opportunities brought by China's rapid economic growth. The high-quality but low-price "made-in-China" products greatly benefit Africans. China's investment also helps African countries reduce the costs of project construction, increase employment opportunities and promote the diversity in Africa's investment industry, which can also reform its single product-based economic structure and promote sustainable development in Africa.

More importantly, Sino-African economic cooperation not only plays the demonstrative role of South-South cooperation among developing countries, but also drives the world community to attach more importance to the continent. Owing to the rapid development between China and Africa, some world powers such as the United States and Japan have also strengthened their cooperation mechanisms with Africa in succession, increasing their attention and investments in Africa, and improving the external environment for Africa's development.

The author is a research fellow with the institute of West Asian and African studies, the Chinese Academy of Social Sciences