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Beijing: China said yesterday that an attack in Ethiopia that killed 74 people, including nine Chinese, will not stop it from investing in Africa - but that it plans to boost security measures.
The attack on a Chinese-owned oil exploration field in Ethiopia killed 65 Ethiopians and nine Chinese. At least six other Chinese workers were kidnapped.
"China supports its enterprises in conducting economic cooperation based on equality and mutual benefits in other countries, including those in Africa. This is our set policy and it will not change," said Foreign Ministry spokesman Liu Jianchao.
China has condemned the attack, which underscored the risks big oil companies face when drilling in Africa - even when they have the host country's support. China has used soft loans and aid to woo African governments and gain more access to oil assets for its state-owned petroleum giants.
Beijing prizes African oil imports, which help reduce China's reliance on crude from the Middle East.
Sinopec, the state-owned parent company of Zhongyuan Petroleum Exploration Bureau, which operates the oil field targeted in Ethiopia, said it was undeterred by the attack.
"There is no way we would stay away from Africa due to the fear of risk," a Sinopec spokesman said on routine condition of anonymity.
Not a game
"This is not a game for us. We will try to improve security in the future, but there is no way we will withdraw from our projects there."
Liu said the government will do more to help Chinese enterprises abroad with security.
China-Africa trade has soared fourfold in this decade to $40 billion (Dh146.8 billion) in 2005. Beijing has also become a major aid supplier, last year announcing $10 billion in assistance in 2006-09.
"The stakes are too high" for China to be scared off from doing business in Africa, said June Teufel Dreyer, a University of Miami Political Science professor.
"They need energy, they need markets and there are places there for Chinese merchants."
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