From the press conference held by the Ministry of Commerce on the China-Africa Deep Economic and Trade Cooperation Pilot Zone,

we learned that China has remained Africa’s largest trading partner for 15 consecutive years. In 2023, China-Africa trade volume

reached a historical peak of US$282.1 billion, a year-on-year increase of 1.5%.

According to Jiang Wei, Director of the Department of West Asian and African Affairs of the Ministry of Commerce, economic and trade

cooperation is the “ballast” and “propeller” of China-Africa relations. Driven by the pragmatic measures taken at previous sessions of

the Forum on China-Africa Cooperation, China-Africa economic and trade cooperation has always maintained strong vitality, and

China-Africa economic and trade cooperation has achieved fruitful results.

The scale of China-Africa trade has hit new highs repeatedly, and the structure continues to be optimized. Imported agricultural products

from Africa have become a highlight of growth. In 2023, China’s imports of nuts, vegetables, flowers, and fruits from Africa will increase

by 130%, 32%, 14%, and 7% respectively year-on-year. Mechanical and electrical products have become the “main force” of exports to

Africa. The export of “three new” products to Africa has achieved rapid growth. The export of new energy vehicles, lithium batteries, and

photovoltaic products increased by 291%, 109%, and 57% year-on-year, which strongly supports the Africa’s green energy transition.

China-Africa investment cooperation has grown steadily. China is the developing country with the largest investment in Africa. As of the

end of 2022, China’s direct investment stock in Africa exceeded US$40 billion. In 2023, China’s direct investment in Africa will still maintain

a growth trend. The industrial agglomeration effect of China-Egypt TEDA Suez Economic and Trade Cooperation Zone, Hisense South

Africa Industrial Park, Nigeria’s Lekki Free Trade Zone and other parks continues to show, attracting a number of Chinese-funded enterprises

to invest in Africa. The projects cover building materials, automobiles, home appliances, and agricultural product processing. and many other fields.

China-Africa cooperation in infrastructure construction has achieved remarkable results. Africa is China’s second largest overseas project

contracting market. The cumulative value of Chinese enterprises’ contracted projects in Africa exceeds US$700 billion, and the completed

turnover exceeds US$400 billion. A number of projects have been implemented in the fields of transportation, energy, electricity, housing

and people’s livelihood. Landmark projects and “small but beautiful” projects. Landmark projects such as the Africa Centers for Disease

Control and Prevention, the Lower Kaifu Gorge Hydropower Station in Zambia, and the Fanjouni Bridge in Senegal have been completed

one after another, which have effectively promoted local economic and social development.

China-Africa cooperation in emerging areas is gathering momentum. Cooperation in emerging areas such as digital economy, green and

low-carbon, aerospace, and financial services continues to expand, continuously injecting new vitality into China-Africa economic and

trade cooperation. China and Africa have joined hands to expand “Silk Road e-commerce” cooperation, successfully held the African

Goods Online Shopping Festival, and implemented Africa’s “Hundred Stores and Thousands of Products on Platforms” campaign, driving

Chinese companies to actively support the development of African e-commerce, mobile payment, media and entertainment and other

industries. China has signed civil air transport agreements with 27 African countries, and has successfully built and launched meteorological

communication satellites for Algeria, Nigeria and other countries.