China's Xi cheers African leaders with pledge of $60 bln for development

``Despite its own slowing economy, Xi said China would step up investment in factories manufacturing goods for export in Africa, in addition to building roads, ports and railways on a continent long seen as a major commodities source for China... Chinese President Xi Jinping told African leaders on Friday his country would pump $60 billion into development projects, cancel some debt and boost agriculture under a three-year plan that will extend Beijing's influence in the continent.''