The main pavilion of the China-Africa Expo is open to the public free of charge from July 1 to 2 Podcast Article

China-Africa trade in goods has recovered strongly. in 2021, China-Africa import and export trade reached US$254.29 billion, up 36% year-on-year; in 2022, China-Africa trade further increased to US$282 billion, a record high.

China’s investment in Africa is growing steadily. By the end of 2022, China’s direct investment stock in Africa exceeded US$47 billion, with the top three sectors being construction, mining and manufacturing, accounting for over 70% of China’s investment stock in Africa.

Africa remains China’s second largest contracting market, and in 2022, China’s new contracts in Africa exceeded $73.2 billion, with a completed turnover of $37.84 billion. The contracted projects are mainly concentrated in three major industries: transportation construction, general construction and power engineering construction, which have strongly contributed to Africa’s economic recovery and livelihood improvement.

On the morning of June 29, the 3rd China-Africa Economic and Trade Fair and China-Africa Economic and Trade Cooperation Forum opened in Changsha, Hunan Province.

  The China-Africa Economic and Trade Fair is the largest economic and trade cooperation platform under the framework of the Forum on China-Africa Cooperation. It has been held once every two years since 2019. With the theme of “Seeking Development, Sharing Future”, this year’s expo will last from June 29 to July 2. Benin, the Democratic Republic of the Congo (DRC), Madagascar, Malawi, Morocco, Mozambique, Nigeria, Zambia and other eight African countries as the guest of honor, Shandong and Hubei provinces as the theme provinces.

  The fair has a main pavilion and sub-pavilions. The main pavilion, with a total area of 100,000 square meters, will focus on African wine, coffee, handicrafts and other special commodities, as well as Chinese construction machinery, medical equipment, daily necessities, agricultural equipment, etc. The sub-pavilion is located in China-Africa Economic and Trade Cooperation Promotion Innovation Demonstration Park (Gaoqiao Market).

  Nearly 40 events will be held during the fair, including the opening ceremony and China-Africa Economic and Trade Cooperation Forum, 9 high-end events hosted by national ministries and agencies, 7 economic and trade matchmaking events, 3 seminars and 13 local events, covering green infrastructure, customs and quarantine, medicine and health, agricultural and food products, light industry and textile, industrial parks, women and youth, vocational education and other fields.

  This year, for the first time, the fair set up a high-end event co-sponsored by national ministries and agencies, set up an exhibition area for China-Africa high-quality joint construction of “One Belt and One Road” and an exhibition for China-Africa women’s innovation and entrepreneurship achievements. To meet the needs of Africa, forums and seminars will be arranged for the first time in the fields of Chinese medicine cooperation, quality infrastructure and vocational education, and trade fairs will be held for the first time around special light industrial products and textile and garments. During the session, nearly 20 results will be released, including the “China-Africa Economic and Trade Relations Report” and the China-Africa Trade Index.

  The scale of participation in this year’s fair is unprecedented. As of June 26, 1,590 exhibits from 29 countries have been registered, up 165.9% compared with the previous year; 1,500 exhibitors, up 70% compared with the previous year; 218 cooperation projects to be signed and docked during the session, amounting to 19.1 billion USD.

  This year is the 10th anniversary of the “One Belt, One Road” initiative, the concept of true and sincere policy towards Africa and the correct concept of righteousness and benefit. 10 years, China-Africa economic and trade cooperation has achieved fruitful results. According to the data released by the Ministry of Commerce, the total trade volume between China and Africa has exceeded USD 2 trillion, and China has always maintained its position as Africa’s largest trading partner. Chinese enterprises have signed contracts for new construction projects in Africa amounting to more than US$700 billion and completed a turnover of more than US$400 billion; China’s direct investment flow to Africa has accumulated more than US$30 billion and has become the fourth largest source of investment in Africa. China-Africa economic and trade cooperation is extending from traditional trade and engineering construction to new fields such as digital, green, aerospace and finance.

China exports to Africa generally use sea transport, there are many shipping companies with fixed routes, and currently there are more overseas warehouses in Africa in China.

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