Promoting high-quality development of China Africa economic and trade cooperation - Focusing on the preparation of the Third China Africa Economic and Trade Expo and the relevant situation of China Africa economic and trade cooperation

2023-06-14

The third China Africa Economic and Trade Expo will be held in Changsha, Hunan from June 29th to July 2nd, with the theme of "seeking common development and sharing the future". It is jointly organized by the Hunan Provincial People's Government and the Ministry of Commerce and is one of the most important exchange activities between China and African countries in the field of economic and trade this year. The State Council Information Office held a press conference on the 13th to introduce the current Expo and China Africa economic and trade cooperation. Vice Minister of Commerce Li Fei said at the press conference that we need to further polish the brand of the Expo, enhance its effectiveness, expand its impact, promote high-quality development of China Africa economic and trade cooperation, and build a high-level community with a shared future for China and Africa. This year marks the tenth anniversary of the joint construction of the "the Belt and Road" initiative, the concept of true, friendly and sincere policies towards Africa, and the correct concept of righteousness and benefit. Li Fei said that over the past decade, under the strategic guidance of leaders from China and African countries, China Africa economic and trade cooperation has achieved fruitful results. Mainly reflected in three aspects: the continuous expansion of cooperation scale. The total trade volume between China and Africa has exceeded 2 trillion US dollars, and China has always maintained its position as Africa's largest trading partner; Chinese enterprises have signed contracts for non new contracted projects with a total amount exceeding 700 billion US dollars and completed a turnover exceeding 400 billion US dollars; China's cumulative flow of direct investment in Africa has exceeded 30 billion US dollars, making it the fourth largest source of investment in Africa; We have dispatched approximately 9000 medical team members to African countries, provided over 100000 places for training and training, and completed a series of infrastructure and social livelihood projects. The fields of cooperation are becoming more diverse. The field of economic and trade cooperation between China and Africa has continuously extended from traditional trade and engineering construction to emerging fields such as digital, green, aerospace, and finance; Chinese enterprises actively participate in the construction of digital infrastructure in Africa, promoting the rapid development of industries such as e-commerce, mobile payment, media and entertainment in Africa; China has signed a civil aviation transportation agreement with 27 African countries and has successfully built and launched communication meteorological satellites for countries such as Algeria and Nigeria. The cooperation mechanism is increasingly improving. China has signed the "the Belt and Road" cooperation document with 52 African countries and the AU Commission, and has jointly set up a number of special working groups in the fields of unimpeded trade, investment cooperation, production capacity cooperation, e-commerce, etc; China actively supports the construction of free trade zones on the African continent and has established an economic cooperation expert group with the Free Trade Zone Secretariat to deepen policy exchange and experience sharing on trade and investment facilitation between China and Africa. Steadily expanding investment in Africa through multiple measures is an important component of China Africa economic and trade cooperation. In recent years, China Africa investment cooperation has made significant progress. Li Fei introduced that from January to April this year, China's new direct investment in Africa reached 1.38 billion US dollars, a year-on-year increase of 24%. Next, China will work with Africa to accelerate the implementation of the "Nine Projects" of China Africa cooperation, and steadily expand investment in Africa through multiple measures. In terms of institutional arrangements, China is willing to sign or upgrade the "Bilateral Promotion and Protection of Investment Agreement" and "Agreement on Avoiding Double Taxation and Preventing Tax Evasion" with willing African countries, actively operate multilateral and bilateral economic and trade cooperation mechanisms, and further enhance the level of trade and investment cooperation liberalization and facilitation. In terms of cooperation platforms, China will continue to encourage Chinese enterprises to rely on the construction and operation of economic and trade cooperation zones in Africa to strengthen

Edit:He Chuanning    Responsible editor:Su Suiyue

Source:Xinhua

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