In June this year, the 4th China-Africa Economic and Trade Expo (hereinafter referred to as the "Expo") will open in Changsha, Hunan. As a new mechanism for China-Africa economic and trade cooperation, a new platform for implementing practical cooperation measures, and a new window for local-level economic and trade engagement with Africa, this Expo has become a "golden brand" for deepening mutually beneficial cooperation and continuously injecting new momentum into China-Africa pragmatic collaboration.
According to Assistant Minister of Commerce of China, Mr. Tang Wenghong, China-Africa economic and trade cooperation has achieved continuous new progress over the past years. In 2024, China-Africa trade volume reached $295.6 billion, setting a record high for the fourth consecutive year. China has maintained its position as Africa's largest trading partner for 16 consecutive years, with imports from Africa reaching $116.8 billion, increased by 6.9%, and exports to Africa totaling $178.8 billion, increased by 3.5%. These figures represent the fruitful outcomes of pragmatic and mutually beneficial cooperation between China and Africa.
At the opening ceremony of the 2024 Beijing Summit of the Forum on China-Africa Cooperation, Chinese President Xi Jinping announced that China is willing to unilaterally expand market openness and has decided to grant zero-tariff treatment to 100% of product categories for all least-developed countries with diplomatic ties to China, including 33 African countries. This makes China the first major developing country and leading global economy to take such a measure, transforming China's vast market into a significant opportunity for Africa.
Shen Xiang, Director of the Department of West Asian and African Affairs at the Ministry of Commerce of China, stated that from the implementation of zero-tariff policy on December 1 last year to March this year, China's imports from the least developed countries in Africa reached $21.42 billion, marking a year-on-year increase of 15.2%. In addition, China continues to expand market openness to African countries. Since the conclusion of this Summit, 22 agricultural products from 18 African countries, including Zambian soybeans and Nigerian peanuts, have newly gained export access to China.
In 2024, the 7th China International Import Expo established a dedicated zone for African products, organizing domestic professional buyers of China to negotiate with African exhibitors to facilitate the entry of high-quality African specialty products into the Chinese market. Featured agricultural products such as Zambian honey, Kenyan flowers and Benin pineapples have become popular commodities at the China International Import Expo.
According to data from the Ministry of Commerce, China's imports of coffee from Africa in the first quarter of this year increased by 70.4% year-on-year, while cocoa bean imports rose by 56.8%. Expanding imports from African countries not only meets the diversified and high-quality consumption demands of the domestic market, but also effectively supports the economic development and livelihood improvements in African countries, bringing tangible benefits to the people of both China and Africa.
Take Rwandan dried chili peppers as an example: since their entry into the Chinese market in 2021, dried chili pepper cultivation has become a significant export industry in Rwanda, directly benefiting thousands of local farmers. In addition, Rwandan dried chili peppers, with a spiciness level over four times that of regular dried chili peppers, have become premium ingredients for hotpot bases and marinated food processing upon entry into the Chinese market. Their high cost-performance ratio has made them widely popular among domestic consumers of China. A Rwandan agricultural expert once remarked, "The stable income from exports to China has raised the income levels of local farmers, attracted domestic and foreign investment, and driven the modernization of the industry."
"Next, the Ministry of Commerce of China will continue working with competent authorities to support the least developed countries, especially those in Africa, in fully utilizing this preferential policy; and help them continuously expand the scale and variety of exports to China, enabling them to share the development opportunities presented by China's vast market. And this will provide Chinese enterprises and consumers with more high-quality and affordable options," said Shen Xiang.
In the past years, against the backdrop of steady economic development and continuous improvement in the overall business environment in African countries, Chinese enterprises have shown a significant increase in their willingness to invest in Africa.
According to data from the Ministry of Commerce of China, over the past five years, Chinese enterprises have maintained an average annual direct investment in Africa over $3 billion. These investment projects span a wide range of sectors, including infrastructure, agriculture and manufacturing. In addition, China’s investors in Africa have become more diversified, with private enterprises emerging as a vital force in investment cooperation. They now account for over 70% of all Chinese enterprises investing in Africa.
According to Shen Xiang, the Ministry of Commerce of China has signed investment promotion and protection agreements with 34 African countries and established investment and economic cooperation working groups with 14 African countries, providing institutional and mechanism safeguards for the high-quality development of China-Africa investment cooperation. "Next, the Ministry of Commerce of China will focus on implementing the Ten Partnership Initiatives, working closely with African counterparts to deepen the integration of China-Africa industrial and supply chains," said Shen Xiang. Specific measures include:
First, established China-Africa industrial cooperation growth circles across the five regions of Africa. Chinese enterprises are encouraged to align with the resource endowments and industrial development plans of African countries, coordinating the construction of various industrial parks, logistics facilities and power energy projects to enhance industrial clustering effects.
Secondly, promoted the integrated development of investment and trade. Chinese enterprises have already engaged in such cooperation with African partners for order-based farming and deep processing of agricultural products based on Chinese market demands and specialty product advantages of African countries, thereby enhancing the added value and market competitiveness of African primary commodity. China will continue encouraging enterprises from both sides to seize opportunities from China's expanded openness to achieve more investment cooperation outcomes.
Finally, supported cooperation among small and medium-sized enterprises. Small and medium-sized enterprises, characterized by their agility, speed and flexibility, play a vital role in employment generation. China will actively promote cooperation among SMEs between China and African countries, organize SME matchmaking events, and support innovative and entrepreneurial collaboration between young and women entrepreneurs from both sides, and create broader opportunities for SME cooperation. In addition, the Ministry of Commerce of China will coordinate resources to cultivate talent for SMEs, facilitating investment cooperation between Chinese and African SMEs through trade fairs, reciprocal economic delegations and the like initiatives.
Africa is endowed with abundant and diverse natural resources and exceptionally favorable conditions for agricultural production. China actively supports and participates in Africa's industrial and agricultural modernization, fostering fruitful and mutually beneficial cooperation between both sides.
According to Tang Wenhong, in industrialization, China has participated in the construction of infrastructure such as railways, highways, ports, electricity and energy in Africa, helping to improve the foundational conditions for industrial development on the Continent and creating better conditions for accelerating Africa’s industrialization. Chinese enterprises have invested in and constructed numerous industrial parks across Africa, which have driven the development of manufacturing in African countries.
Furthermore, in agricultural modernization, Chinese agricultural experts have enhanced the yield and quality of key crops such as rice and cassava in African countries through technology transfer and varietal improvement, thereby assisting these countries in increasing their food self-sufficiency rates. Juncao Technology has been introduced to multiple African countries and become a "grass of prosperity and happiness" that helps local people pursue better lives. Chinese enterprises have established processing plants in Africa for rubber, waist drums, swords, hemp and the like, effectively enhanced local processing capabilities and increased the product value added.