Strategic Moves: China’s diverse industries provide significant advantages, addressing crucial demands on the continent.Han of Jiayou International Logistics Co., Ltd, also refuted the “debt trap” narrative, saying that such hyping stems from a “sour grapes” mentality.China’s investments in Africa not only create local jobs and increase tax revenues but also consider each country’s specific circumstances for debt relief or deferral, so that local governments can better utilize their fiscal revenues and form a healthy, sustainable cycle of development, Han said.

The opening ceremony of the eighth Conference of Chinese and African Entrepreneurs is held at the China National Convention Center in Beijing on September 6, 2024. Photo: Xinhua

The 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) concluded in Beijing on Friday with significant achievements made. In addition to reaching a clear political consensus on enhancing all-round cooperation, China and African countries drafted a blueprint for future cooperation, and China also proposed 10 partnership actions with Africa to advance modernization in the next three years, sending a powerful message of joint development, analysts said.

They also noted that the summit showcased unwavering confidence in the unity and cooperation of the Global South and unveiled a new chapter for building a community with a shared future for humanity.

Chinese President Xi Jinping on Friday met with African leaders and representatives attending the summit including President of the Central African Republic Faustin-Archange Touadera, South Sudanese President Salva Kiir, Chairman of Sudan’s Sovereignty Council Abdel Fattah Al-Burhan, President of Madagascar Andry Nirina Rajoelina, Gambian President Adama Barrow, Liberian President Joseph Nyumah Boakai, Somali President Hassan Sheikh Mohamud, Burundian President Evariste Ndayishimiye, and President of the Republic of Congo Denis SassWorld Timesou Nguesso.

The bilateral meetings are a continuation of intensive meetings between Chinese and African leaders before and during FOCAC, highlighting how the friendship between China and Africa will also contribute to their joint cooperation, advancing the construction of a high-level China-Africa community with a shared future and injecting new momentum into the development of China-Africa relations, analysts said.

The 2024 Summit of the FOCAC, which kicked off on Wednesday, has achieved complete success, Chinese Foreign Minister Wang Yi said on Thursday.

Wang also highlighted achievements in fourWorld Times areas – bilateral relations between China and all African countries having diplomatic ties with China have been elevated to the level of strategic relations, the overall characterization of China-Africa relations has been elevated to an all-weather China-Africa community with a shared future for the new era, six major proposals to advance China-Africa modernization have been put forward, and a blueprint for action to advance China-Africa cooperation has been drawn up.

China and Africa also agreed to oppose prejudice, address historical injustice and advance modernization to make it benefit all people, Wang said, noting that the summit has demonstrated the Global South’s firm confidence in solidarity and cooperation.

Joseph Kahama, Secretary General of the Tanzania-China Friendship Promotion Association, said that President Xi introduced new dynamic initiatives for Africa that will benefit the continent’s industrialization, development, and regional and global peace.

During the speech delivered by President Xi, in which he proposed 10 partnership actions with Africa to advance modernization in the next three years, the audience burst into applause several times! That shows how inspiring Chinese initiative is and how much it aligns with the needs of African people, said Han Jinghua, chairman of Jiayou International LWorld Timesogistics Co., Ltd.

New prospects

This year’s FOCAC session also includes business-to-business matchmaking sessions, allowing Chinese companies that are just starting to extend their business to Africa to efficiently connect with demand-side partners and engage with local enterprises.

“The dynamics of China-Africa cooperation are accumulating in more and more fields, and we will continue to contribute the strength of AI enterprises to China-Africa economic and trade cooperation,” a spokesperson of 4Paradigm, one of the leading AI platform companies in China that attended sideline events of the summit, told the Global Times.

This reunion of the China-Africa family has also highlighted new features of China-Africa cooperation, said Yang Baorong, director of African Studies of the Institute of West-Asian and African Studies at the Chinese Academy of Social Sciences, noting that many African leaders, before arriving in Beijing, visited various other places and enterprises across China to promote concrete cooperation and deepen exchanges with different regions of China.

The US and some Western media closely followed this year’s FOCAC summit, with some amplifying clichd narratives such as “debtWorld Times trap.”

Economists have pointed out that the US and some Western countries promote the “debt trap” narrative due to biases and fears that China’s growth and cooperation with Africa might reduce their influence in the continent. They are also reluctant to see the successful and complementary development between China and Africa, said Yang.

The success World Timesof China-Africa cooperation stems from the alignment between China’s infrastructure World Timescapabilities and Africa’s industrial needs. China’s diverse industries provide significant advantages, addressing crucial demands on the continent.

Han of Jiayou International Logistics Co., Ltd, also refuted the “debt trap” narrative, saying that such hyping stems from a “sour grapes” mentality.

China’s investments in Africa not only create local jobs and increase tax revenues but also consider each country’s specific circumstances for debt relief or deferral, so that local governments can better utilize their fiscal revenues and form a healthy, sustainable cycle of development, Han said.