Politics
Angola is a priority for China in Africa
In 2005, the acquisition of Block 3/80 by Sinopec was announced at the same time as a US$2 billion loan to Angola, and in 2010, the same Chinese state oil company acquired 50 percent of Block 18, at the same time as the first tranche of a loan was provided by the China export-Import Bank.
Between 2004 and 2011, according to researcher Deborah Brautigam, China did unprecedented business with at least seven countries rich in natural resources, to a value of almost US$14 billion. At the beginning of May China’s Prime Minister Li Keqiang visited Angola as part of an African tour that also included visits to Ethiopia, Nigeria and Kenya. Angola and China signed two agreements, one to do away with the need for diplomatic visas between the two countries and another in the financial sector, following a meeting between Li Keqiang and Angolan President José Eduardo dos Santos.
Source: MacauHub
