By the end of 2020, direct investment of Chinese companies in Africa had surpassed 43 billion U.S. dollars, according to a white paper published Friday.

The white paper, titled "China and Africa in the New Era: A Partnership of Equals," was released by China's State Council Information Office.

China has established over 3,500 companies of various types across the continent. Private companies have gradually become the main investment force in Africa; more than 80 percent of their employees are locals, and they have directly and indirectly created millions of jobs, said the white paper.