China has pledged to avail more than US$50.7 billion to finance mega-projects in Africa over the next three years.

Chinese President Xi Jinping announced the financial and other new measures for deeper cooperation during the opening of the Forum on China-Africa Cooperation (FOCAC) Summit at the Great Hall of the People.

President Xi said the new finance mechanism would help create at least one million jobs in Africa in various industries.

China would further provide US$140 million in emergency food to African countries severely affected by hunger, poverty, and other disasters.

The Chinese leader hailed the relations between Africa and China at their best in history.

China and the African continent are expected to adopt a joint declaration at the end of the summit.

Congo-Brazzaville co-chairs the summit alongside China.