CHINA OPENS MARKET WIDER FOR AFRICAN COUNTRIES

Thu 05 September 2024:

Beijing, China – China will voluntarily and unilaterally open its markets wider for African countries, says President Xi Jinping.

Delivering his keynote address at the 2024 Forum on China-Africa Cooperation (FOCAC) in Beijing, China, Chinese President Xi said China has decided to give all least developed countries (LDCs), which have diplomatic relations with China, including 33 countries in Africa, zero-tariff treatment for 100% of tariff lines.

🇨🇳 XI JINPING: “The China-Africa community with a shared future is deeply rooted in our traditional friendship. Since the mid-20th century, we have been fighting shoulder to shoulder against imperialism, colonialism and hegemonism” pic.twitter.com/haOif6kBNc

— COMBATE |🇵🇷 (@upholdreality) September 4, 2024

“This has made China the first major developing country and the first major economy to take such a step. It will help to turn China’s big market into Africa’s big opportunity,” President Xi said.

China will expand market access for African agricultural products, deepen cooperation with Africa in e-commerce and other areas, and launch a “China-Africa quality enhancement programme.”

“We are prepared to enter into framework agreements on economic partnership for shared development with African countries to provide long-term, stable and predictable institutional guarantee for trade and investment between the two sides.

“China is prepared to carry out 30 infrastructure connectivity projects in Africa, promote together high quality Belt and Road cooperation, and put in place a China-Africa network featuring land-sea links and coordinated development,” President Xi said.

China’s Belt and Road Initiative was launched in 2013 by President Xi. The massive collection of development and investment initiatives was originally devised to link East Asia and Europe through physical infrastructure. In the decade since, the project has expanded to Africa, Oceania and Latin America.

President Xi: In the next three years, China will work with Africa to take the following ten partnership actions for modernization to deepen China-Africa cooperation and spearhead the Global South modernization. #FOCAC2024 #ChinaAfrica pic.twitter.com/9kK48kTfJa

— CGTN Global Watch (@GlobalWatchCGTN) September 5, 2024

China is ready to assist in the development of the African Continental Free Trade Area, deepen logistics and financial cooperation for the benefit of trans-regional development in Africa.

In addition, China plans to launch 30 clean energy projects in Africa, put in place meteorological early warning systems, and carry out cooperation in disaster prevention, mitigation and relief, as well as biodiversity conservation.

“We will create a China-Africa forum on peaceful use of nuclear technology, establish together 30 joint laboratories, and collaborate on satellite remote sensing and lunar and deep-space exploration. All this is designed to help with green development in Africa.

“China is ready to establish with Africa a hospital alliance and joint medical centers. We will send 2 000 medical personnel to Africa, and launch 20 programmes of health facilities and malaria treatment.

“We will encourage Chinese companies to invest in Africa’s pharmaceutical production, and continue to do what we can to help Africa with epidemic response. We support the development of the Africa Centers for Disease Control and Prevention to strengthen public health capacity in all African countries,” President Xi said.

China will provide Africa with RMB1 billion yuan in emergency food assistance, build 100 000 mu (about 6 670 hectares) of standardised agriculture demonstration areas in Africa, send 500 agricultural experts, and establish a China-Africa agricultural science and technology innovation alliance.

“We will implement 500 programmes in Africa to promote community welfare. We will also encourage two-way investment for new business operations by Chinese and African companies, enable Africa to retain added value, and create at least one million jobs for Africa,” President Xi said.

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Strengthening security

China is ready to build with Africa a partnership for implementing the Global Security Initiative (GSI) and make it a fine example of GSI cooperation.

“We will give Africa RMB1 billion yuan of grants in military assistance, provide training for 6 000 military personnel and 1 000 police and law enforcement officers from Africa, and invite 500 young African military officers to visit China.

“The two sides will conduct joint military exercises, training and patrol… and jointly ensure the safety of personnel and projects.

“To implement the 10 partnership actions, the Chinese government will provide RMB360 billion yuan of financial support through the next three years,” the President said.

This can be broken down into RMB210 billion yuan of credit line, RMB80 billion yuan of assistance in various forms, and at least RMB70 billion yuan of investment in Africa by Chinese companies.

In addition, China will encourage and support Africa in issuing panda bonds (a Chinese renminbi-denominated bond from a non-Chinese issuer, sold in the People’s Republic of China) in China to enhance results-oriented cooperation in all areas.

“China is ready to work with Africa to build a platform for governance experience sharing, a China-Africa knowledge network for development, and 25 centers on China and Africa studies.

“We will make better use of Africa’s leadership academies to cultivate talents for governance and invite 1 000 members of African political parties to China to deepen exchanges of experience in party and state governance,” President Xi said.

–SAnews.gov.za

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