BEIJING — China’s President Xi Jinping inaugurated the ninth Forum on China-Africa Cooperation (FOCAC) Summit on Thursday, where he is expected to press African leaders to increase their intake of Chinese goods. This year’s forum, hosted in Beijing, marks a significant event in strengthening ties between China and Africa, with a focus on balancing trade, investment, and technological collaboration.
The summit, which began with a welcome dinner for representatives from 50 African nations, will continue through Friday. During this period, delegates will negotiate key documents outlining the direction of China-Africa relations up to 2027.
China’s recent financial commitment to Africa includes $4.61 billion in loans approved last year, signaling the first increase since 2016. The Chinese government aims to reshape its investment strategy, shifting away from large-scale infrastructure projects towards more manageable, high-impact initiatives, aligned with Xi’s new focus on “small and beautiful projects.”
Analysts anticipate that Xi will highlight China’s advancements in green technologies and explore opportunities for technology transfer and increased people-to-people exchanges. Additionally, China might pledge to enhance financial support to African central banks and businesses, building on the $10 billion commitment made at the previous summit.
African leaders are seeking more immediate financial solutions to the continent’s growing debt crisis, as well as new investment opportunities to create jobs and complete previously proposed projects. South Africa’s President has already urged Xi to address the trade deficit between China and South Africa, reflecting a broader desire among African nations for improved trade terms and better access for agricultural exports.
Delegates are also pressing for China to honor its 2021 pledge to purchase $300 billion worth of African goods. Concerns have been raised about Beijing’s strict phytosanitary regulations, which some argue are hindering African food exports to the large Chinese market.
In parallel, African leaders have been engaging with Chinese firms to encourage the establishment of manufacturing hubs in their countries, aiming to boost industrial capacity and value addition.
The summit, the first in-person FOCAC since the COVID-19 pandemic, offers an opportunity for direct engagement and personal involvement from both Chinese and African leaders. Key discussions include finalizing the 2024-2027 action plan and assessing the progress of commitments made during the last summit in Dakar.
The outcomes of this week’s meetings are expected to shape the future of China-Africa cooperation, with a focus on mutual benefits and sustainable development.