Ministry of Foreign Affairs: Africa is a "continent of hope" and also a "land of investment" in e-commerce | China | Ministry of Foreign Affairs

Release time:Apr 15, 2024 00:46 AM

On August 18th, Foreign Ministry spokesperson Wang Wenbin presided over a regular press conference. A reporter asked that the "Africa Development Dynamics Report" jointly released by the African Union and the OECD believes that China's investment in Africa is in a leading position in the world. This report is jointly released by the African Union Commission and the Organization for Economic Cooperation and Development. The report states that from 2017 to 2022, China's investment in non direct green spaces was $74 billion, accounting for 18% of foreign investment in non direct green spaces. China is the largest investor in East Africa, accounting for 20% of foreign investment, and also ranks in the top three in other regions, along with Europe and the United States. Its key investment areas are manufacturing, electricity, and engineering construction. What is China's comment on this?

Wang Wenbin said that we have taken note of this report. Africa is a continent of hope and a land of investment. China's investment in Africa is in line with Africa's development needs, mutually beneficial and win-win, and has brought benefits to the people of China and Africa. In recent years, under the guidance and care of leaders from both China and Africa, significant progress has been made in investment cooperation between China and Africa.

One is the stable growth of China's investment in Africa, with broad prospects for future development. In the first half of this year, China's new direct investment in Africa reached 1.82 billion US dollars, a year-on-year increase of 4.4%, and Chinese companies have continuously strengthened their confidence in the African market. At present, more than 3000 Chinese enterprises are deeply involved in Africa, with private enterprises accounting for more than 70% of China's enterprises in Africa, becoming the driving force for China's investment in Africa. With the accelerated promotion of the African Free Trade Area, Chinese enterprises entering and rooting in Africa will usher in more convenience and opportunities, and add new vitality to high-quality cooperation between China and Africa.

Secondly, China and Africa complement each other's development advantages, with a wider range of investment areas and more diverse ways for China to invest in Africa. Africa has a unique resource endowment, a huge demographic dividend, and the pace of integration and free trade zone construction is accelerating. The "Investment driven Project" is one of the "nine major projects" proposed at the Dakar Conference of the Forum on China Africa Cooperation. China is accelerating the implementation of the conference results by establishing a China Africa Private Investment Promotion Platform and a China Africa Cross border RMB Center, and releasing the "Report on Chinese Enterprise Investment in Africa" to provide guidance and convenience for Chinese enterprises to invest in Africa, striving to improve the efficiency of resource allocation between China and Africa. We are pleased to see that China's investment in Africa is constantly expanding. In addition to the manufacturing, power, and engineering construction mentioned in the report, it also covers emerging industries such as technology, finance, and e-commerce. Participating in stocks and mergers and acquisitions are becoming new ways for China to invest in Africa.

Ministry of Foreign Affairs: Africa is a "continent of hope" and also a "land of investment" in e-commerce | China | Ministry of Foreign Affairs

The third is mutual benefit and win-win investment cooperation between China and Africa, helping to promote the development of their respective modernization undertakings. China is accelerating the construction of a new development pattern, and Chinese enterprises investing in Africa is conducive to building a smoother and more stable global industrial chain. Chinese enterprises actively cooperate with African development strategies and take the initiative to fulfill social responsibility while achieving their own development. Many Chinese companies have a localization rate of over 80% among their employees, providing feedback to the local people through methods such as building bridges, paving roads, digging wells, and constructing street lights. At the same time, Chinese enterprises have also increased their efforts in non-technical transfer, local procurement, and personnel training to promote the modernization of agriculture, manufacturing, and service industries in Africa, enhance the level of processing and manufacturing in Africa, and enhance the added value of products, making important contributions to the social stability and development revitalization of African countries.

Wang Wenbin said that supporting Africa's development is a common responsibility of the international community, and we welcome all parties to increase their attention and investment in Africa. We will continue to support Chinese enterprises with willingness, strength, and good reputation to expand investment in Africa, and help Africa enhance its ability for independent and sustainable development. Embark on the path of modernization and prosperity.

Guiding the right direction for promoting the development of the international human rights cause -- President Xi Jinping's congratulatory letter to the high-end forum on global human rights governance triggered a warm response to the high-end forum on global human rights governance

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