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Gao Hucheng: With Accumulations and Highlights, China-Africa Economic and Trade Cooperation Boasts Broad Prospects

On May 5, Minister of Commerce Gao Hucheng published a signed article titled With Accumulations and Highlights, China-Africa Economic and Trade Cooperation Boasts Broad Prospects. Following is the full text:

With Accumulations and Highlights, China-Africa Economic and Trade Cooperation Boasts Broad Prospects

In March 2013, President Xi Jinping made a successful visit to Africa, injecting new contents of the times -- “Sincere, Honest, Close and Earnest” to the China-Africa new strategic partnership, which closely connected the China Dream and Africa Dream. This year marks the 50th anniversary of late Premier Zhou Enlai’s visit to Africa. On this occasion, Premier Li Keqiang is visiting Africa, with firm belief and support of the Chinese people to African people’s dream of prosperity. The visit will surely further bolster China-Africa new strategic partnership.

The past fifty years are memorable. Five decades ago, China and Africa supported each other for national liberation and independence, building profound friendship and mutual trust, and laying a solid foundation for the sound development of China-Africa economic and trade cooperation.

Over the 50 years, no matter how international situation changed, the sincere, equal and mutually beneficial principle of China-Africa economic and trade cooperation has not changed. No matter how the world economy fluctuated, the rapid momentum of China-Africa economic and trade cooperation has not changed.

China-Africa economic and trade cooperation in the past 50 years boasts remarkable achievements and witnesses the development of South-South cooperation. At present, China-Africa economic and trade cooperation has basically formed a multi-tiered, wide-range and all-covered pattern, becoming an indispensable part of each other’s economic growth, setting a good model for South-South cooperation, and starting a bright way with distinct features of cooperation between developing countries.

China-Africa trade has expanded in large scale. In 1965, trade between China and Africa was only US$ 250 million. In 2013, bilateral trade volume reached US$ 210.3 billion, exceeding US$ 200 billion for the first time. China has been the largest trade partner of Africa for 5 consecutive years. Goods in China-Africa trade have changed from agricultural products and daily consumer goods to those in all aspects of economic development and people’s livelihood, enriching and improving the two peoples’ everyday life.

China’s investment in Africa has been growing. By the end of 2013, China’s direct investment in Africa added up to US$ 25 billion. Behind the figure were more than 2,500 Chinese enterprises running business in Africa in the fields of financing, telecommunications, energy, manufacturing and agriculture, creating more than 100,000 jobs there. The great attraction of Africa has made it a new destination for China’s investment overseas.

China-Africa cooperation in contracted projects grows rapidly. Africa is the second largest market of China’s contracted projects overseas. By the end of 2013, the accumulated volume of contracted projects undertaken by Chinese enterprises in Africa was approximately US$ 400 billion, with more than 2,200 kilometers of railroad having been laid and more than 3,500 kilometers of highway built. Through cooperation, Chinese enterprises brought capital and technology to Africa, reducing construction costs, changing the outlook of Africa, and making “Built by China” famous.

Fifty years is a short span. In the long process of human progress, opportunities for development and cooperation are fleeting. Now, Africa has become one of the world’s regions which enjoy the fastest economic growth, and it is regarded as a continent of hope and development. As the world’s biggest developing country and the second largest economy, China is devoted to comprehensively deepening reform and expanding opening up. With increasing mutual demand and expanding common interests, China-Africa economic and trade cooperation is coming to a strategic period of accelerated development. In the process of realizing the rejuvenation of the Chinese nation and achieving Africa’s joint self-improvement and revitalization, both China and Africa should seize the historic opportunity to share the fruits and develop hand in hand, and make China-Africa economic and trade cooperation hit a new high in the next 50 years.

Everlasting and deep-rooted friendship between China and Africa serves as a basis for deepening bilateral cooperation. The special friendship between China and Africa was established in their joint fight for national independence and liberalization. Our friendship, which has gone through all the hoops and grows stronger as time passes by, takes on a piece of glory, a piece of responsibility, and a piece of trust and intimacy in China-Africa economic and trade cooperation. This kind of friendship enables China-Africa economic and trade cooperation to show authentic unity and mutual assistance for developing countries, demonstrating an option of the times and a will of the peoples. It also represents the essence of South-South cooperation.

Both China and Africa have enjoyed rapid economic growth, which brings more needs of bilateral cooperation. Africa boasts a huge population and a tremendous market volume with great potentials for economic development. Over the past ten years, African economy has maintained an annual growth rate of 5% on the average, and consumer demands and cooperation needs have been released continuously. And China’s rapid economic expansion has brought about opportunities and markets to the sustainable development of African economy and even the world’s economy. The deepening cooperation of the two fast-growing economies will produce a sound interaction with their respective economic expansion and bring more real benefits to people from both sides, together with more business opportunities.

China’s economic development links up with that of Africa and they are complementary to each other through further cooperation. China has entered the middle stage of industrialization, with strong output capability of capital, technology and productivity. Businesses also have a strong wish of “going global”. Africa is at the early stage of industrialization, and is in urgent needs of capital, experience and technology to promote economic integration, attract foreign funds and create more jobs, so as to adjust industrial structure and realize economic transformation. Along the same process of industrialization, China and Africa enjoy great complementary advantages and they link to each other in terms of stages of development. The Chinese Dream of realizing national rejuvenation is closely connected with the African Dream of joint self-improvement and revitalization through development. So China and Africa should display each other’s advantages to carry out economic and trade cooperation, and serve for Chinese and African economic and social development more efficiently.

The cooperation erupts on the basis of accumulations in the past 50 years. At present China-Africa cooperation is faced with new environment and requirements. Premier Li Keqiang’s visit to Africa at such a historic time is of great significance for both sides to innovate cooperation pattern, expand cooperation fields, improve cooperation efficiency and quality, and accelerate cooperation transformation and upgrading, so as to better serve their own development and livelihood. We believe that this visit will benefit China-Africa economic and trade cooperation with a new direction, new highlights and new vigor, and push China-Africa economic and trade cooperation into a higher level.

-- Creating good environment for economic and trade cooperation. During his visit to Africa, Premier Li Keqiang will exchange views with African leaders concerning bilateral economic and trade cooperation, and closely relate China’s will of development with that of African countries. On the basis of that, China will work with Africa to optimize cooperation environment and build a platform for exchanges in an effort to provide better environment and services for bilateral business cooperation.

-- Expanding new areas of economic and trade cooperation. Regional connectivity and infrastructure development are the basis of African economic integration, and the urgent need of African economic boom and China’s advantage in foreign cooperation. Premier Li Keqiang will, through this visit, enhance bilateral cooperation in connectivity and infrastructure construction of road, railway, port, aviation, electricity and telecommunications, and create more extensive cooperation for China and African countries.

-- Supporting Africa’s industrial development. To attract foreign capital, quicken industrial development and transform economic development mode are Africa’s main goals for foreign cooperation. Premier Li Keqiang’s visit will center on these goals, rely on investment to transfer China’s labor intensive industries like manufacturing to Africa, support the development of “Made in Africa”, and make investment a key factor for a closer, more inclusive and sustainable China-Africa economic and trade relationship.

-- Highlighting an image of responsibility and the idea of benefiting people’s livelihood. It’s China’s moral obligation and responsibility to help our African friends within our capacity, though China is still a developing country. Premier Li Keqiang will present our common wish for a beautiful life with African people through this visit, putting more emphasis on livelihood fields in Africa such as agriculture, healthcare, environmental protection, education and culture to help African people improve their well-being.

Looking forward to the future, bilateral economic and trade cooperation between two highly-potential economies like China and Africa indicates a bright prospect and great expectations.


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