Feb. 3 (Bloomberg) -- Chinese President Hu Jintao pledged $800 million in investments in Zambia's Chambishi area over the next three years as part of an economic and trade agreement with Africa's biggest copper producer.

``It's our commitment that we assist Zambia develop the various sectors of its economy, including agriculture, health and education,'' Hu told reporters in the capital Lusaka today.

The two nations signed an agreement to develop an economic and trade zone in Zambia's Chambishi area, in the country's Copperbelt province, in a bid to create jobs. China also agreed to cancel debts worth a total of $10 million, Hu said.

Hu arrived in Zambia today for a three-day state visit as part of his tour of China's African trading partners. China is wooing Africa through trade, loans and direct investments in oil and mineral industries, a strategy that has won it diplomatic allies and secured supplies of natural resources.

``We are greatly indebted by China's commitment to assist Zambia's economic development,'' Zambian President Levy Mwanawasa said. ``It will assist to uplift the aspirations of the Zambian people toward meeting various obligations including poverty alleviation.''

Under the agreement, China will build a sports stadium in Ndola, an agricultural demonstration facility, two rural schools and a malaria center. It will also provide 117 government scholarships to China for Zambians while sending agricultural experts and volunteers to Zambia, Hu said.

It donated another $150,000 in cash to 380,000 people who were displaced by floods since the beginning of December.

To contact the reporters on this story: Geoffrey Kapembwa in Lusaka via Johannesburg on johannesburg@bloomberg.net; Vernon Wessels in Johannesburg at vwessels@bloomberg.net

Last Updated: February 3, 2007 12:47 EST