Author: Nicole Kamanzi Muteteri

Minister Yi was speaking at a press conference for the Second Session of the 14th National People’s Congress in Beijing where he elucidated China’s foreign policy.

In recent years, Chinese officials including the Foreign Minister visited African countries.

Meanwhile, officials from the United States (U.S.) and other Western countries have been also paying visits to Africa in recent years.

The visits were held amidst Western narratives that depict China’s financial aid for significant development projects as a “debt trap.”

Officials indicate that China’s financial cooperation with Africa has primarily focused on infrastructure and capacity building, aiming to bolster Africa’s capacity for self-reliant and sustainable growth.

Throughout the years, China-Africa collaboration has addressed the critical development needs of African nations.

Propelled by the Belt and Road Initiative, the China-Africa partnership in infrastructure has produced significant outcomes.

Last year’s data revealed that since the inception of the Forum on China-Africa Cooperation 23 years ago, Chinese enterprises have constructed or renovated over 10,000 kilometers of railways, nearly 100,000 kilometers of roads, around 1,000 bridges, 100 ports, as well as several hospitals and schools across Africa. This effort has generated more than 4.5 million jobs.

Nevertheless, Western narratives often portray the Chinese aid in Africa as a “debt trap.”

China counters these accusations as unfounded and reaffirms its dedication to honoring African sovereignty.

Commenting on China’s stance on the trips and concern about the competition from the Western relation with Africa, Minister Yi said: “In the history of international exchanges, it is so because China and Africa rather treat each other with sincerity, ensuring the common future.”

He draw emphasis on a longstanding relationship rooted in mutual support and shared struggles against imperialism and colonialism, highlighting the historical context of solidarity that forms the bedrock of China-Africa relations.

According to Yi, China has committed to principles of “sincerity, fair results, amity, and good faith,” under the leadership of President Xi Jinping, propelling the China-Africa partnership onto a trajectory of accelerated growth and deeper connection.

“China has remained Africa’s biggest trading partner for 15 years straight, and the pie of China-Africa cooperation is growing bigger,” he noted.

Yi further stated that this economic partnership, coupled with a shared vision for development, demonstrates the tangible benefits of this relationship ‘not only for China and Africa but also for the global south, which is increasingly influencing the global narrative’.

However, the growing interest of Western nations in Africa has introduced new dynamics into the equation.

“While China-Africa cooperation thrives, other major countries have again turned their eyes. China welcomes that. We hope that like China, all sides will pay greater attention to Africa, increase support for Africa’s development, and support the development of real nations,” Yi stated as he reflected on China’s openness to multilateral cooperation and a desire for a genuine commitment to Africa’s development, beyond the realm of competition.

Looking ahead, Minister Yi announced the next meeting of the Forum on China-Africa Cooperation, scheduled to be held in China this winter.

This summit promises to be a landmark event, bringing Chinese and African leaders together to discuss future cooperation and governance.

Yi expressed optimism about the outcomes of this summit, believing it will “enhance their longstanding friendship,” and “open up new vistas for faster climate development and start a new chapter for China-Africa community and share the future.”

{{Théophile Niyitegeka / Beijing, China}}

Speaking at the press conference on the economy for the second session of the 14th National People’s Congress in Beijing, on Wednesday, 6th March 2024, Wang provided a nuanced analysis of the current global economic climate and its impact on China’s foreign trade.

{{Global economic outlook and challenges}}

Wang painted a picture of the global economy, citing multiple international organizations’ forecasts indicating that the global economic growth rate in 2024 would remain below the historical average.

This scenario, he explained, portends a declining external demand for China’s goods and services.

“First, the situation of the country as we see it, will still be under a severe and complex situation,” Wang remarked, highlighting the dual challenges of declining external demand and rising trade protectionism and intellectualism globally.

Referencing an international Monetary Fund (IMF) report, Wang noted a significant increase in trade restrictive measures, with about 3,000 implemented in the previous year, a stark contrast to the 1,100 measures in 2019.

Furthermore, he mentioned the World Trade Organization’s (WTO) prediction of a 3.3 percent climb in global trade for the year, tempered by political conflicts and a super-election year that might introduce additional uncertainties.

{{China’s trade performance and expectations}}

Despite these challenges, Wang offered a glimpse of optimism based on China’s recent trade performances.

“In the first two months, we have seen growth momentums,” he stated, indicating that imports and exports have continued their growth momentum since October last year, with volumes expected to hit record highs.

Notably, exports in the first two months of the year increased by more than 1.5 billion yuan ( over US$208 million), with a 10.3 percent increase observed in the second month, underscoring an 8.2 percent overall rise in foreign trade.

Wang also highlighted the resilience of China’s foreign trade during the traditionally slow Spring Festival holidays, evidenced by the bustling activity on the China-Europe Railway Express and ocean-going freighters, as well as robust export orders for key products like home appliances and automobiles, though he acknowledged weaknesses in some sectors.

{{Strategies for stabilizing and enhancing foreign trade}}

Addressing the strategies to navigate current difficulties and uncertainties, Wang detailed robust policy measures and preparations to stabilize foreign trade.

Among these strategies, enhancing financial services for foreign trade enterprises, especially micro, small, and medium enterprises (MSMEs), continuing trade promotion efforts, and developing new trade platforms were key focal points.

In the long run, Wang emphasized the importance of acting on the plans set out at the Central Economic Work Conference and the government report, aiming to accelerate the fostering of new drivers of foreign trade and promote its high-quality development.

This includes expanding trade in intermediate goods, improving customs clearance and taxation policies, expanding digital trade, and promoting green trade, with a strong focus on supporting trading in green and low-carbon products of high quality.

WTO Director-General Ngozi Okonjo-Iweala recently highlighted China’s crucial influence on global economic growth, emphasizing its innovative economic stimuli and its significant trade partnerships worldwide.

Since joining the WTO over two decades ago, China has become the top goods trader globally, affecting global markets deeply due to its economic performance.

With China’s GDP showing a 5.2% increase in 2023, its recovery post-COVID is seen as vital for enhancing global trade and overall economic expansion, underlining the global benefits of a robust Chinese economy.

{{Théophile Niyitegeka/ Beijing, China}}