China has expressed its eagerness to enhance economic cooperation with African countries for the mutual benefit of both sides.
Officials from the China Council for the Promotion of International Trade (CCPIT) stated that economic ties between China and Africa have grown over the years, establishing China as Africa’s largest trading partner and creditor.
Zhang Shaogang, the Vice Chair of the China Council for the Promotion of International Trade (CCPIT), attributes this success, in large part, to the Forum on China-Africa Cooperation (FOCAC). He believes that since its establishment in 2000, FOCAC has had a positive impact on trade and the economy. The forum has resulted in significant financial commitments from China, including investments that have played a crucial role in boosting economic development across African nations.
Zhang commended FOCAC for its focus on improving infrastructure connectivity, which is a key driver for trade and economic integration. He cited projects such as roads, railways, and energy facilities that have enhanced trade logistics.
Additionally, He praised FOCAC for fostering dialogue between China and Africa. He said the forum provides a platform for policy dialogue, facilitating better alignment of development strategies and enhancing the effectiveness of trade agreements and investments.
Zhang emphasized that the Chinese government highly values cooperation between the business communities of China and Africa. He assured continued support and called for the promotion of integration of industrial and supply chains.
He stated, “China will expand institutional opening to Africa, foster cooperation in industrial and supply chains, promote economic integration and inter-financing development between China and Africa, and deliver shared benefits to all. This will contribute significantly to consolidating the comprehensive strategic partnership between China and Africa.”
Zhang further urged entrepreneurs from both China and Africa to utilize economic and trade cooperation platforms, such as the China International Supply Chain, to improve the reintegration of industrial and supply chains. He emphasized the importance of jointly opposing protectionism and maintaining stable industrial and supply chains.
Noting that China is currently nurturing high-quality productive forces and Africa is actively exploring its own path to modernization, Zhang called for the two sides to join forces to achieve great success.
“There is great potential for cooperation between Africa and China in areas such as green development and artificial intelligence. We hope that entrepreneurs from China and Africa can collaborate in emerging industries and work together to promote industrial development,” he added. He spoke amid a planned “Entrepreneurs Conference” scheduled for September 6, where entrepreneurs from China and Africa will discuss cooperation opportunities resulting from new measures introduced at the summit.
Sun Xiao, the spokesperson for CCPIT, expressed similar sentiments, stating that through FOCAC, Chinese businesses have been encouraged to invest in Africa, leading to job creation and technology transfer. This partnership aims to align with Africa’s development goals and promote sustainable and mutually beneficial economic growth.
As an institution, Sun said CCPIT wants to provide necessary support and assistance to African companies to help them thrive.
“CCPIT will strengthen cooperation with counterpart institutions in Africa to stabilize and streamline the industrial and supply chain, aiming to make further contributions to an open world economy,” he said during a news conference.
“In promoting the development of emerging industries, China and Africa have achieved significant results in areas such as the digital economy and green development,” he added.
He stated that China has actively supported Africa in building its digital infrastructure.
“Since the establishment of FOCAC, Chinese companies have assisted in constructing and upgrading communication backbone infrastructure spanning 150,000 kms, providing network services to 700 million users,” he explained.
Sun further noted that China is an important cooperation partner for Africa in terms of energy transition, with the implementation of hundreds of clean energy projects within the framework of FOCAC.
“We support African countries in leveraging their advantages in solar, water, and geothermal energy to achieve green, low-carbon, and high-quality development,” he said, emphasizing that these initiatives, along with others emerging, will contribute to Africa’s economic success.
