First: Political Issues: Egyptian-Chinese Political relations are characterized by obvious activity during the last few years, especially 2007 and 2008, as the two years concur with both countries' celebrating the 50th anniversary for establishing bilateral diplomatic relations. The celebrations witnessed many activities, including the visit of Chinese Prime Minister, Wen Jiabao, to Cairo in June 2006, followed by President Mubarak's visit to China in November 2006. Both visits witnessed the signing of many agreements and understanding memorandum between the two countries in the various political and economic fields. Many Egyptian Ministers have visited China during the recent period. These include a visit paid by Minister of Military Production, two visits paid by Minister of Transport, three visits paid by Minister of Tourism, along with visits paid by Ministers of Education, Environment, Administrative Development, Petroleum, Commerce, Legal Affairs and Parliamentary Councils, as well as a visit paid by President of People's Assembly and another by Head of General Authority for Investment. Similarly, Egypt has received many Chinese Senior Officials during the same period, including a visit of the Chairman of Chinese People's Political Consultative Conference in May 2007. In September 2007, Chinese Minister of Railways paid a visit to Egypt, during which an understanding memorandum was signed. During the same month, the Mayor of the Chinese city of Chingan also visited Egypt and met with Egyptian ministers for Investment, and Military Production as well as Luxor's Council Chairman, as Luxor enjoys cordial ties with Sichuan. In October 2007, Egypt also received Deputy Minister of Trade to discuss means to boost inter-trade. In November 2007, Chinese Deputy Foreign Minister visited Egypt and held political consultations with Egyptian Assistant Foreign Minister for Asian Affairs. Bilateral consultations are carried on concerning regional and international events. The Chinese envoy to Darfur has recently visited Egypt as well as Sino-African Cooperation Forum Coordinator and the Director of the Middle East Department in the Chinese Foreign Ministry and Chinese Envoy to the Middle East. An agreement for strategic cooperation between Egypt and China was signed on 1999, and there are many mechanisms in various fields, including a mechanism for political consultation and an agreement to hold a strategic dialogue on the Foreign Ministers' levels, which was signed in June 2006 during the Chinese Prime Minister's visit to Egypt. Egyptian-Chinese Cooperation is carried on within a number of regional frameworks, most important of which being the Sino-Arab Forum, and the Sino-African forum, whose upcoming senior officials' meeting on 2008 is to be hosted by Egypt, as well as its ministerial meeting on 2009.   Second: Economic Issues: Egyptian-Chinese commercial exchange on 2007 reached about $ 4.3 billion, while it was $ 3.2 billion on 2006 (trade deficit with China is estimated by $ 4 billion and was about $ 3 billion on 2006). Egypt is considered the largest sixth commercial partner to China in Africa, and is expected to become the first partner within five years. China was granted the position of market economy, according to an agreement signed during President Mubarak's visit to China in November 2006. A branch of Egypt's National Bank was inaugurated in Shanghai, after it has changed from a representative office to a whole branch, and will start working in full scale in March 2008. In 2007, The Chinese investments in Egypt reached up to $ 400 million, as estimated by the Chinese embassy in Cairo. Signed was an agreement to found an Egyptian-Chinese Company for Development of the North West Suez Gulf Industrial Zone.  In September 2006, a contract was signed to establish a building for Investors' services in the region (as a grant from the Chinese side). The project of the industrial zone in northwest Suez Gulf aims to attract Chinese investments of $ 2.5 billions. In May 2007, Cairo hosted the Sino-African Business Conference, which was attended by the Chairman of Chinese People's Political Consultative Conference.