600-year-old Chinese coin found in Kenya, - over $200 China investment in Africa 2012!

Scientists from Illinois in the United State of America have found a rare, 600-year-old Chinese coin on the Kenyan island of Manda.

The Field Museum in Chicago announced the find Wednesday, 13th-March 2013. The joint expedition was led by Chapurukha Kusimba of the museum and Sloan Williams of the University of Illinois-Chicago. Researchers say the coin proves trade existed between China and eastern Africa decades before European explorers set sail.

Fast track to 2013 BEIJING, March 20, 2013 (UPI) -- China's trade with Africa is booming as Chinese investments in the continent soar, Chinese officials and experts say.
China is already Africa's largest trading partner.
"China and Africa are good friends, good brothers and good partners. China has actively supported African countries in developing their infrastructure and economy," said Li Zhaoxing, president of China Public Diplomacy Association.

President of China, Mr Xi Jinping

The visit by the new President Xi Jinping president will give impetus to the strengthening cooperation between China and African countries."

.......Chinese official data showed China-Africa trade reached a high of more than $160 billion in 2011, up 28 percent from 2010. China Daily said the volume for 2012 is estimated to have surpassed $200 billion.
At the end of 2011, China's direct investment in Africa reached almost $15 billion, with more than 2,000 Chinese companies currently invested in Africa, the report said.

Rewind.....

The coin is made of copper and silver. It has a square hole in the centre so it could be worn on a belt. Scientists say it was issued by Emperor Yongle of China and his name is written on the coin.

Scientists from Kenya, Pennsylvania and Ohio also participated in the expedition. They also found human remains and other artefacts predating the coin.

This present day....
Trade and investment flows between China and Africa will gain momentum this year as President Xi Jinping visits several nations on the continent during his first overseas trip.....Trade between China and Africa may have risen to a record last year after growing 20 percent to 163.9 billion yuan ($26.4 billion) through October, according to China’s Ministry of Commerce. Forecasts of a more stable economic environment will help drive trade and investment, Priestley said.
“There are fewer disruptions within Africa than there were in the last year and the year before,” he said. “We just saw an election in Kenya, we just had an election in Ghana and there was a transfer of power and there’s no disruption to the economy. It’s a stable growth pattern and more young African are getting quality Education.”

Standard Chartered Bank, with operations in 16 African countries, plans to invest $100 million over the next three years, opening 110 branches on the continent and recruiting 950 consumer-banking staff. Revenue from Africa made up more than 8 percent of income last year, according to the London-based bank.

 

 

Substantial Economic Growth in Africa have come to Stay!

credit: Myweku,
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