China to operate policy of sincerity with Nigeria, envoy pledges

•To assist on way out of recession
•Trade volume hits $14.94b

The Chinese Consul General in Lagos, Chao Xiaoliang, has restated his country’s commitment to implementing a policy of “sincerity, real results, affinity and good faith” with Nigeria and Africa. He also pledged support for the most populous black nation regarding planning and better bilateral ties in a win-win situation.

Xiaoliang, who spoke in Lagos at an event to mark the 45th anniversary of China-Nigeria diplomatic ties as well as the country’s Moon Festival and National Day, said the trade volume between both nations as at the end of 2015 was $14.94 billion, 17.2 per cent less than of 2014 statistics.

He noted that the prevailing economic downturn notwithstanding, Nigeria remains the largest market for Chinese contracted projects, second largest for its exports and third biggest trading partner on the continent.

Xialoiang went on: “Nigeria is also a major destination for Chinese out-bound capital. By the end of 2015, China’s non-financial direct investment to Nigeria was $1.55 billion, 17.6 per cent more than that of 2014.

“Furthermore, Nigeria has witnessed a series of major projects by the Chinese enterprises such as Abuja Light Rail, Lagos Rail Mass Transit System and Abuja-Kaduna railway which have greatly improved the infrastructure of Nigeria and improved the life of Nigerian people.

“Each year the Chinese government gives about 100 scholarships in addition to the more than 400 Nigerian students funded by their families to study in China. All in all, the people-to-people and cultural exchanges between China and Nigeria have significantly reinforced mutual understanding and friendship.”

On the Asian giant’s investment inflow, he said: “As you can see today, there are so many Chinese companies in Nigeria despite the economy downturn and more are willing to come to Nigeria.”

Asked to advise the Federal Government on the way out of the recession, Xiaoliang remarked: “You know earlier this year, President Muhammadu Buhari paid a state visit to China. The two countries reached far-reaching agreements.”