China’s premier signals country is open to African business
Li Qiang’s speech appears aimed at addressing worries about China’s trade surplus with Africa climbing to a record US$64b
PREMIER Li Qiang signalled that China will open up more to businesses in Africa, comments likely aimed at fending off worries about a record trade surplus with the continent.
The Asian nation will “expand unilateral opening up to the least developed countries and work with Africa to keep promoting mutual opening up”, Li said Friday (Sep 6) in Beijing at the Forum on China-Africa Cooperation. “We need to further strengthen market connectivity.”
He pledged to facilitate agricultural shipments and a greater amount of “high-quality goods” from Africa to China, and invited nations to make greater use of a supply-chain expo Beijing launched last year.
Li’s brief speech appeared aimed at addressing worries about China’s trade surplus with Africa climbing to a record US$64 billion last year. South African President Cyril Ramaphosa told Chinese leader Xi Jinping earlier that he wanted to see that figure shrink and “address the structure of our trade”.
Ramaphosa also called “for more sustainable manufacturing and job-creating investments”.
Other Africans suggested on the sidelines of the forum that the trade imbalance was a concern for them. Ambassador Akinremi Alade Bolaji, director of the Nigerian Foreign Ministry’s trade department, said trade “has to be deliberately adjusted”. He added that he was encouraged by a pledge Xi made earlier to provide more market access.
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Sourakhata Tirera, a Senegalese businessman based in the Chinese manufacturing hub of Yiwu, said: “We don’t want to live our life only for importing.”
“This is not good for our next generation,” he added.
In his speech on Thursday, Xi unveiled a raft of economic sweeteners for Africa, showcasing China’s commitment to strengthening its influence over a continent that is key to his geopolitical ambitions. That primarily involves offsetting what Beijing views as US “hegemony” of world affairs.
Xi vowed to provide US$50 billion in financial support, including US$10 billion in investment by Chinese companies. He also waived all tariffs for 33 low-income African economies and pledged to create one million jobs on the continent.
Li expanded on the job-creation theme in his remarks on Friday at the forum, Beijing’s main vehicle for managing its relationships in Africa. “Chinese companies in Africa should continue to localise their operations, create more local jobs, train more local talent, and further contribute to local people’s well-being,” he said.
China’s three-day charm offensive highlights Beijing’s strategy of positioning itself as the leader of the Global South, a term for the world’s developing nations. BLOOMBERG
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