When China established diplomatic relations with Egypt in 1956, the trade between China and the entire Africa continent was merely 12 million US dollars. Until 1980, although following the Opening- up policy, the volume of trade was still no more than 1.13 billion US dollars. However as the China’s economy fast developed in the recent 10 years and the economic and trade conditions improved in African countries, the relations and cooperation between the two have surged to a new peak. Since 2001, the value of the bilateral trade has increased at the annual rate of 40%. And in 2005, the figure reached 39.74 billion US dollars, with China’ export of 18.68 billion and import of 21.06 billion respectively, twice as much as that in 2003. And in 2006, it soared to 55.5 billion, in which export form China was 26.7 billion and import was 28.8 billion. China has established investment projects in 49 African countries and has overtaken UK and emerged the third largest trade partner with Africa after the US and France.