31% of African infrastructure project contracts worth over 50 million US dollars were obtained by Chinese enterprises. Research: Foundation | China | Africa by 2022
According to a report by Hong Kong's South China Morning Post on the 13th, a recent study released by the Hans Christian Foundation showed that in the 1990s, European and American companies won 85% of African infrastructure project contracts. In 2013, African infrastructure projects promoted by Western companies accounted for 37%, while Chinese companies accounted for 12%. By 2022, 31% of African infrastructure project contracts worth over $50 million will be won by Chinese companies, while Western companies will only account for 12%. "Compared with 1990, the situation has changed dramatically." Keith Rockwell, the author of this study and a former WTO official, said that, driven by the "the Belt and Road" initiative, China has funded a series of large-scale infrastructure projects in Africa.
Rockwell stated that China is also Africa's largest trading partner, with a trade volume of $250 billion between the two sides in 2021, while the US Africa trade volume was only $62 billion. He believes that although China has encountered some resistance in dealing with Africa, the relationship between the two is "broad and deep" and may remain strong for many years. Sub Saharan African geoeconomic analyst Ali Sachu said that China is "significantly faster" in shifting its strategic focus to the African continent.