Trade frameworks linking China, Africa set to broaden

This initiative aims to transform the vast Chinese market into a significant opportunity for African nations and enhance their integration into the global economy, said Sang Baichuan, dean of the Institute of International Economy at the University of International Business and Economics.

In recent years, African countries have encountered obstacles in their development path, struggling to boost export volumes. China's move comes as timely and much-needed support, Sang said.

Nevertheless, there are fundamental issues that require attention, notably the necessity to broaden the trade frameworks linking the two regions. Sectors like e-commerce and sustainable development offer auspicious prospects, Sang added.

While trade acts as a key element of China-Africa collaboration, another notable facet emphasizing the strength of the partnership is the considerable increase in direct investment, especially from China into Africa.

As of the end of 2023, China's cumulative direct investments in Africa had surged past the $40 billion mark, solidifying its position as one of the primary sources of foreign capital for countries across the continent, according to the China Council for the Promotion of International Trade.

China's investments in Africa are increasingly expanding beyond traditional industries, said Wang Xiaosong, a professor at Renmin University of China's School of Economics.

While infrastructure, manufacturing and agriculture have long been the focus of China's engagement on the continent, the country is now directing more funding toward emerging sectors like green development and the digital economy, Wang said.

Major Chinese e-commerce platforms such as Alibaba and Pinduoduo have launched dedicated efforts to penetrate African markets, leveraging their extensive product catalogs and logistics networks to cater to the continent's growing consumer class.