OREANDA-NEWS. February 04, 2014. CCCC signed a tripartite agreement of intent on cooperation with China National Materials Group Corporation Ltd. (Sinoma) and China-Africa Development Fund (CAD Fund).

Under the agreement, the three parties will jointly implement the strategy of "going out", give play to respective advantages and make cooperative investment in relevant projects in Africa to jointly develop the African market. According to sources, as China's first private equity fund focusing on African investment approved by the State Council, CAD Fund has guided and supported a large number of Chinese enterprises in making direct investment in Africa, thus promoting Africa's economic development and livelihood improvement in the way of marketization.

Prior to the ceremony, the three parties held a discussion about the vision, way and objective of cooperation, exchanged ideas, enhanced consensuses, and agreed on comprehensively initiating practical cooperation by concrete actions to promote mutual benefit and win-win.