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Remarkable achievements of China-Africa cooperation

ABigBizApr14, 2020Trade Study Leave a Reply

 under the situation of the continuation low growth of the global economic, China-Africa keep good development relationship of economic and trade: a more solid foundation for bilateral cooperation is built and the cooperation will is more intense and the mechanism is more perfect with more new concept emerging in the cooperation. The economic and trade cooperation built on the basis of mutual benefit and win-win has promoted the development of Africa's  economic diversification and improved people's livelihood in Africa. And it not only provides the strong support to China's economic and social development, but also makes the contribution for the promotion of South-South cooperation and balance the development of the world economy.

Historic visit of China-Africa economic and trade

Chinese President Xi Jinping took office in March 2013 and made the first visit to Africa, which firmly showed that Chinese government think highly of the relations development of Sino-African in new era and strengthen the link between the China and Africa. African leaders such as Nigerian President Jonathan, Kenyan President Jomo Kenyatta, Sata President of Zambia, and Ethiopian Prime Minister Haier Mariam  visited China one after another. Through the visit, the traditional friendship between China and Africa is strengthen and the mutual trust between each other continue to enhance.

FOCAC steadily implement

2013 is the first year of the 5th Ministerial Conference of FOCAC. In the expansion of cooperation in investment and financing, China's commitments of $ 20 billion financing facility implement smoothly. In the expansion of Africa development assistance, in 2013 the scale of China's assistance to Africa expands, aid for agricultural demonstration centers in Africa "bright line " activities, " African Talents Scheme " and other projects are under way; in support of integration of Africa, close cooperation between China and Africa is promoting Africa's inter-regional and cross-border infrastructure and deeper the discussion of the African regional trade facilitation.

Improving trade and economic cooperation mechanism

In 2013, China and Cote d'Ivoire , Djibouti , Rwanda and South Africa held the new bilateral economic and trade joint committee for the major issues of bilateral trade and economic cooperation and reached a fruitful consultations and exchange the view of strengthening cooperation.

The bilateral trade volume is expected to be higher

In 2013, bilateral trade between China and Africa sustained healthy development. From January to October, China-Africa trade volume reached 172.83 billion U.S. dollars, which is an increase of 5.5 % in the year and is expected to exceed a new record, $ 200 billion. At the same time, bilateral trade continue to optimize the structure. The electromechanical and high-tech products with high added value is near half the proportion of China’s exported products to Africa. And Africa’s steel, copper and other industrial products also go into the Chinese market. China also further open up their markets to Africa and effectively promote the African commodity exports to China by giving Ethiopia, Benin, Burundi, and African LDCs 95%o zero tariff treatment to products exported to China.

China's investment in Africa continues to grow

In recent years, as the adjustment of China's domestic industrial structure and the acceleration of industrialization and urbanization in Africa , more and more Chinese enterprises invest in Africa, with the advantages of funding and technology. At present, China has accumulated various investment companies set up in Africa- over 2000, involving agriculture , infrastructure , manufacturing, resource development , finance, commerce with the employment of local staff of more than 80,000 people. The promoting measure such as China-Africa Development Fund, special loans for SMEs development in Africa and China-Africa economic and trade cooperation zones has played an very important role.

Chinese contracting business results well in Africa

Africa has become the second largest market for Chinese enterprises in overseas contracted projects. Chinese enterprises actively participate in the construction of African electricity, energy, transportation and other infrastructure areas of livelihood. In 2013 January to October, Chinese companies signed a new contract with Africa with the amount $ 47.01 billion , an increase of 22.5% , and the turnover is 32.21 billion U.S. dollars , an increase of 11.4 %. In the consolidation of the traditional advantages, Chinese companies is expending the area of the contracted project and begin to take part in the study of the feasibility, planning, design and post-operational management of the relevant projects.

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