China and Angola mark 35 years of relations

Beijing – The People’s Republic of China has become one of the Angola’s main economic partners since 2002, the year the African country declared an end to the armed conflicts.

During 16 years, China has transformed itself into the largest funding country of the Angolan infrastructure.

Although the diplomatic relations between the two countries date back to 1983, it was only in 2002 that the Asian giant granted its first line of credit to a country intended to rebuild its infrastructure.

It is estimated that until 2018 China has granted a USD 23 billion loan to Angola.

Currently, China is Angola’s largest trading partner and has become its second largest trading partner and largest supplier of oil in Africa.

Angola pays its loans with crude oil.

Source: Angola Press News Agency