A million Chinese live and work in Africa. In 2007 the largest-ever investment in Africa was made by the Commercial Bank of china, which spent $5.5 billion purchasing 20 percent of South Africa’s Standard Bank. Brazil, India and Russia have also been important sources of foreign direct ship with the region was the launch in June 2008 of an India-Africa Forum Summit. Indian conglomerates are investing widely and Indian policymakers view the provision of its technology expertise as the key to competing with China Africa