Companies from China and Africa signed on Thursday a total of 39 deals worth an aggregate of approximately US$17 billion, Chinese state-run news agency Xinhua reported.

According to the media outlet, the deals were signed shortly before a meeting in Beijing aimed at analysing the practical results – achieved so far – from the Johannesburg Summit of the Forum on China-Africa Cooperation (FOCAC).

During the Beijing event – the Seminar on China-Africa Business Cooperation and Signing Ceremony – more than 400 participants exchanged views on industrial co-operation, financial co-operation, and mechanisms to ease progress in trade and investment.

In a group meeting with African delegates, Chinese Vice President Li Yuanchao said – as quoted by Xinhua – China and African nations should enhance mutual trust and expand people-to-people exchanges. He also called on both sides to improve co-ordination in relation to global affairs.

China’s President Xi Jinping announced in the Johannesburg meeting held in December 2015 that China would make available US$60 billion to Africa to help fund new co-operation and development programmes across 10 sectors in the following three years.

The meeting regarding the implementation of actions resulting from the FOCAC Johannesburg summit is taking place in China from July 28 to 31. The Chinese Vice Minister of Foreign Affairs, Zhang Ming, had said ministers and other representatives from 53 African nations were expected to take part in this week’s meeting.