China promises financial support to implement African plan

In what has been seen as the most significant China-African collaboration yet announced by Chinese President Xi Jinping, China has promised the financial support to implement the 10-point partnership actions.

A total assistance package of R200 billion in various forms has been proposed. Included is R175 billion of investment in Africa by Chinese companies.

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China offers panda bonds

China will commit to encouraging and supporting Africa in issuing panda bonds in China, “to enhance our results-oriented cooperation in all areas”.

“Over the past 24 years, especially in the new era, China has advanced forward hand-in-hand with our African brothers and sisters in the spirit of sincerity, real results, amity and good faith,” Xi said.

“We stand shoulder-to-shoulder with each other to firmly defend our legitimate rights and interests as once-in-a-century changes sweep across the world.

“We get stronger and more resilient together, by riding the tide of economic globalisation – delivering tangible benefits to billions of ordinary Chinese and Africans.”

“Thanks to nearly 70 years of tireless efforts from both sides, the China-Africa relationship is now at its best in history.

“With its future growth in mind, I propose that bilateral relations between China and all African countries having diplomatic ties with China be elevated to the level of strategic relations, and that the overall characterisation of China-Africa relations be elevated to an all-weather China-Africa community with a shared future for the new era.”

With China and Africa accounting for one-third of the world population, Xi said: “Without our modernisation, there will be no global modernisation.”

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China to establish hospitals, send medical personnel

Xi said modernisation partnership actions would include:

• Building a platform for governance experience sharing – a China-Africa knowledge network for development and 25 centres on China and Africa studies;

• China expanding market access for African agricultural products, deepening cooperation with the continent in e-commerce and other areas – launching “a China-Africa quality enhancement programme”;

• China fostering industry cooperation growth clusters with Africa – pushing forward the Pilot Zone for in-depth China-Africa economic and trade cooperation – launching an “African SMEs empowerment programme”;

• China’s preparedness to carry out 30 infrastructure connectivity projects in Africa – together promoting high-quality Belt and Road cooperation and putting in place a China-Africa network, featuring landsea links and coordinated development;

• Replenishing the China-World Bank Group partnership facility to boost Africa’s development; and

• China’s readiness to establish with Africa a hospitals alliance and joint medical centres – sending 2 000 medical personnel to the continent to launch 20 programmes of health facilities and malaria treatment.

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