Currently, China is perceived to be a new colonizer of Africa which just exploits the continent’s natural resources in order to support its own economic growth. This paper presents a thorough analysis of trade and investment in African oil countries in order to prove whether the statements about the Chinese neo-mercantilism are tenable or not. China is the biggest or second biggest import partner in five of the ten African oil countries. It is not the main investor in any of them, but in Angola and Sudan it has a greater share. The oil sector of Africa was seized long time ago by Western companies. Western concerns about losing the economic power over Africa can be considered as the main reason for the criticism of the Chinese investments there.