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Institute of Developing Economies>Data & Resources>AGE (African Growing Enterprises) File>Manualreport>Annexure IV:Profile Chen Yuan and Chi Janxin - China in Africa - AGE (African Growing Enterprises) File

China in Africa

All data are collected in the Fiscal Year of 2008-2009.

Annexure IV:Profile Chen Yuan and Chi Janxin

A) Profile Chen Yuan - Governor China Development

Chen Yuan holds a Master’s degree in Industrial Economics from theGraduate School of the Chinese Academy of Social Sciences. His fatherwas a leading member of the Chinese Communist Party (CCP) and hisfamily has played an important role in the Beijing Municipal region of theCCP. In 1982, Chen was appointed secretary of the Xicheng DistrictCommittee of the Beijing Municipal Committee of the CCP. Later he waspromoted to director-general of the Beijing Municipal Commerce and Trade Department.

During the 1980s, Chen played a key role within the economic reform movement of the
CCP, seeking to liberalise and revitalise the Chinese economy. In 1988, he was appointed
vice-governor of the People’s Bank of China. His efforts at strengthening the bank quickly
earned him a good reputation as an effective banker. Ten years later, Chen was promoted
to the position of Governor of the China Development Bank and secretary of the China
Development Bank CCP Committee. Governor Chen has proven himself to be a first class
banker overseeing the rapid growth of one of the largest banking institutions in the world.
His solid leadership underpins both the CDB and the newly formed China-Africa
Development Fund.

In summary, the CDB/CADF combine provides a solid platform for a new wave of Chinese
investment in Africa. African businesses have the opportunity to form joint ventures with
Chinese enterprises and open new avenues for co-operation and growth. China’s very
significant US dollar reserve provides the foundation for long-term engagement with Africa
and prospects for African development. The challenge is for African entrepreneurs to
engage the CADF to maximise mutually beneficial outcomes. Where African companies
engage China effectively, prospects for long-term growth improve. The key is to mobilise
CADF capital for employment in Africa, while offering China effective returns.

B) Profile - Chi Jianxin - CADF President

Chi Jianxin served for a number of years in the Investment BankingDepartment of the China Development Bank. As CEO of the China-Africa Development Fund (CADF), Jianxin travels extensively acrossAfrica researching new opportunities for investment. He has aparticular interest in agriculture and believes there is vast potential inAfrica for improved agricultural production and agro-processing. Hehas plans to increase China’s funding and technical support foragriculture in Africa and is already looking at new projects in places likeAngola

Jianxin’s strategy is to invest in projects which promote development in Africa, rather than
to merely seek quick deals on resource extraction. He has a broad vision for continentalwide
development which will benefit both China and Africa over the longer term. He has
described his fund as “for profit, but not for profit,” suggesting that China is willing to use
the fund to build a foundation for economic growth in Africa, rather than to seek short-term
advantage. Funding for badly needed infrastructure in Africa is one of his priorities as he
argues that without roads and railway lines Africa’s chances of rapid economic growth
remain poor.

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