A veteran Chinese diplomat on Monday praised cooperation between China and Africa while addressing a forum on Chinese business in Africa.

Facts and history tell us that the cooperation benefits and serves the common prosperity and development of both sides, former Foreign Minister Li Zhaoxing said.

China and Africa, as the biggest developing country and the continent that holds the most developing countries in the world, share unlimited prospect for bilateral cooperation, he said.

"We have benefited a lot from working with Africa," said Li, who is now president of the China Public Diplomacy Association, citing the facts that Africa has offered significant help for China in international affairs and boosted its national economy.

According to Li, Africa has become China's second-largest source for crude oil and its fourth-biggest destination for foreign investment.

He also quoted Nkosazana Dlamini-Zuma, chairperson of the African Union Commission, by noting that China has been a great help in helping Africa maintain its robust growth despite the international financial crisis.

China's active involvement into Africa's infrastructure construction and growing investment have boosted the African economy and improved the lives of Africans, Li added.