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June 28th, 2023

From June 29 to July 2, the 3rd China-Africa Economic and Trade Expo will be held in Changsha, Hunan province, with the theme of “Seeking Common Development and Sharing a Bright Future”. This is one of the most important economic and trade exchange activities between China and African countries this year.

The China-Africa Economic and Trade Expo is an important mechanism for China-Africa economic and trade cooperation, as well as a significant platform for local economic and trade cooperation between China and Africa. As of June 26, a total of 1,590 exhibits from 29 countries have registered for the event, an increase of 165.9% from the previous session. It is estimated that there will be 8,000 buyers and professional visitors, with the number of visitors exceeding 100,000. As of June 13, 156 cooperation projects with a total value exceeding $10 billion have been collected for potential signing and matching.

To better meet the needs of Africa, this year’s expo will focus on forums and seminars on traditional Chinese medicine cooperation, quality infrastructure, vocational education, etc. for the first time. It will also host trade negotiations on characteristic light industrial products and textiles for the first time. The main exhibition hall will showcase African specialties such as red wine, coffee, and handicrafts, as well as Chinese engineering machinery, medical equipment, daily necessities, and agricultural machinery. The branch exhibition hall will mainly rely on the permanent exhibition hall of the expo to create a China-Africa economic and trade expo that never ends.

Looking back, China-Africa economic and trade cooperation has continuously yielded fruitful results. The cumulative total of China-Africa trade has exceeded $2 trillion, and China has always maintained its position as Africa’s largest trading partner. The trade volume has repeatedly reached new highs, with the trade volume between China and Africa reaching $282 billion in 2022, an increase of 11.1% year-on-year. The areas of economic and trade cooperation have become increasingly diversified, extending from traditional trade and engineering construction to emerging fields such as digital, green, aerospace, and finance. By the end of 2022, China’s direct investment in Africa exceeded $47 billion, with more than 3,000 Chinese companies currently investing in Africa. With mutual benefits and strong complementarity, China-Africa trade has provided strong support for the economic and social development of both China and Africa, benefiting the people of both sides.

Looking ahead, to continuously elevate China-Africa economic and trade cooperation to a higher level, it is necessary to actively explore new paths of cooperation and open up new areas of growth. The “African Brand Warehouse” project in China has helped Rwanda export chili peppers to China, incubating brands, customizing packaging, and taking the high-quality route. During the 2022 African Product Live Streaming E-commerce Festival, Rwanda’s chili sauce achieved sales of 50,000 orders in three days. By learning from Chinese technology, Kenya successfully trial-planted local white corn varieties with a 50% higher yield than surrounding varieties. China has signed civil aviation transport agreements with 27 African countries and has built and launched communication and meteorological satellites for countries such as Algeria and Nigeria. New fields, new formats, and new models are emerging one after another, leading China-Africa cooperation to develop comprehensively, diversified, and of high quality, taking the lead in international cooperation with Africa.

China and Africa are a community with a shared future and common interests of win-win cooperation. More and more Chinese companies are entering Africa, taking root in Africa, and local provinces and cities are becoming more active in economic and trade exchanges with Africa. As part of the “Eight Major Actions” of the Forum on China-Africa Cooperation Beijing Summit, the China-Africa Economic and Trade Expo is held in Hunan province. This year’s expo will fully resume offline activities, showcasing exotic products from Madagascar, such as essential oils, gemstones from Zambia, coffee from Ethiopia, woodcarvings from Zimbabwe, flowers from Kenya, wine from South Africa, cosmetics from Senegal, and more. It is believed that this expo will become a remarkable event with Chinese characteristics, meeting the needs of Africa, showcasing the style of Hunan, and reflecting the highest level.

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