By Abu Bakarr Kargbo in Beijing
President Xi Jinping of the People’s Republic of China unveiled an ambitious plan to deepen China-Africa cooperation and spearhead Global South modernization over the next three years during the Forum on China-Africa Cooperation summit in Beijing on Thursday.
The Chinese government will provide significant financial support through ten partnership actions aimed at fostering mutual learning, trade prosperity, industrial chain cooperation, connectivity, development cooperation, health initiatives, agriculture and livelihood projects, people-to-people exchanges, green development, and common security measures. President Xi Jinping revealed at the Forum on China-Africa Cooperation summit in Beijing on Thursday that in the next three years, China will provide financial support as part of ten partnership actions for modernization to deepen China-Africa cooperation and spearhead the Global South modernization. He said that to implement the ten partnership actions, the Chinese government will provide RMB360 billion yuan of financial support over the next three years.
This breaks down into RMB210 billion yuan of credit lines, RMB80 billion yuan of assistance in various forms, and at least RMB70 billion yuan of investment in Africa by Chinese companies. In addition, China will encourage and support Africa in issuing panda bonds in China to enhance our results-oriented cooperation in all areas.
In his keynote address at the summit themed “Joining Hands to Advance Modernization and Build a Community with a Shared Future,” President Xi highlighted the critical role that China and Africa play in global modernization. He emphasized that without the modernization of China and Africa, there can be no global modernization.
The key highlights of the partnership actions unveiled by President Xi include Partnership Action for Mutual Learning among Civilizations: China will work with Africa to establish a platform for governance experience sharing, a knowledge network for development, and centres for China-Africa studies. The initiative aims to cultivate talents for governance and deepen exchanges of experience in party and state governance.
Partnership Action for Trade Prosperity: China will open its market wider by providing zero-tariff treatment for all least developed countries (LDCs) having diplomatic relations with China, including 33 African countries. This landmark step is set to boost trade opportunities and economic cooperation between China and Africa.
Partnership Action for Industrial Chain Cooperation: China plans to foster industry cooperation clusters with Africa, promote economic and trade cooperation zones, and enhance technological collaboration through digital technology centres and demonstration projects.
Partnership Action for Connectivity: China is committed to implementing infrastructure projects, promoting high-quality Belt and Road cooperation, and enhancing connectivity efforts to support African regional development and economic integration.
Partnership Action for Development Cooperation: China will implement livelihood projects, contribute to Africa’s development through cooperative initiatives, and support major sporting events in Africa to foster socio-economic growth.
Partnership Action for Health: China will establish a hospital alliance, launch health programs, and invest in Africa’s pharmaceutical production to strengthen public health capacities and epidemic response.
Partnership Action for Agriculture and Livelihoods: China pledges support for agricultural development, community welfare programs, and job creation initiatives, aiming to enhance food security and economic sustainability in Africa.
Partnership Action for People-to-People Exchanges: China will enhance vocational education cooperation, provide training opportunities, and promote cultural exchanges to empower women and youths and strengthen bilateral ties.
Partnership Action for Green Development: China will launch clean energy projects, promote environmental conservation, and collaborate on technology innovation to support sustainable development in Africa.
Partnership Action for Common Security: China will reinforce security cooperation with Africa through military grants, training programs, joint exercises, and safety initiatives to ensure peace and stability in the region.
President Xi’s comprehensive plan underscores China’s commitment to supporting Africa’s development and fostering a shared future of prosperity and progress. The announcement received positive reactions from delegates and guests at the summit, highlighting the potential for stronger China-Africa collaboration in the coming years.
As the world looks towards a brighter future of peace, security, and shared development, President Xi’s visionary approach sets a new precedent for international cooperation and solidarity. By joining hands and working together, China and Africa have the opportunity to lead the way in modernization and create a lasting impact on the global stage.
The historic partnership actions announced by President Xi Jinping represent a significant milestone in China-Africa relations, paving the way for a new era of cooperation and mutual benefit. With a firm commitment to advancing modernization and building a community with a shared future, China and Africa are poised to write a new chapter of development and progress in human history.
As the forum concludes, the world eagerly anticipates the transformative impact of these partnership actions on the socio-economic landscape of Africa and the broader Global South, symbolizing a beacon of hope and opportunity for all nations striving for modernization and prosperity.
