China'S Growing Influence In Africa Is Hard To Surpass.

Obama hosted the first US Africa summit this year.

With the holding of the Africa Africa summit and the first visit of the Japanese Prime Minister to sub Saharan Africa in the past 10 years, there are signs that the developed economies are strengthening their relations with Africa again.

Their subtext is that the United States, the European Union and Japan all want to compete with China's growing commercial influence in Africa.

Today, Africa's economic growth is the second largest in the world.

Did the president of the United States and his Western colleagues succeed? In short, No.

At the first financial times Africa summit held this week, the chief executive of 6 large companies in Africa, from industry to banking, from commodities to consumer goods, were asked which foreign powers play the most beautiful cards in Africa. Their answer is the same: China still has the upper hand and the advantage is obvious.

"China has done very well because they bring patient capital and long-term vision," said Mar Shah, chief executive officer of Bidco, a Nairobi based consumer group.

"They do not give orders, tell you how to govern their country," he added.

Ivan Grasenberg, a South African chief executive of Glencore, a commodities dealer, said: "China is investing heavily in Africa.

They have invested heavily in infrastructure. "

Herbert Vigwi, the helm of Access Bank, echoed the consensus view.

He said, "I have been to almost all African countries, at least 50.

China's influence in Africa is increasing day by day, and they are finding the right way.

China in Africa

It is still better than other countries, perhaps not surprising.

The volume of trade between China and Africa has increased from less than $10 billion in 2000 to more than US $200 billion last year, surpassing that of the United States and the colonial powers in Africa.

Beijing has provided a steady stream of low interest credit to Africa, and has also maintained a policy of non-interference in political affairs.

For example, Chinese officials admit that they have made some mistakes.

Zhou Xiaochuan, governor of the people's Bank of China, admitted at a meeting of African finance ministers and central bank governors that some of the Sino African pactions were "not very good and not satisfactory", which is one of China's most honest mistakes.

During his first visit to Africa this year, Chinese Premier Li Keqiang admitted that Sino African relations had "growing pains".

This kind of speech sounds like music to those disillusioned officials.

Beijing has pledged to encourage investment in more areas of Africa, especially in manufacturing and banking.

For example, FAW, one of China's largest automobile companies, set up a factory in South Africa this year.

Factories have been set up in Ethiopia; banks in Kenya have begun to establish relations with China's state-owned financial institutions.

In May of this year, China established a $2 billion fund with the African Development Bank, and announced that it would award the contract to the most suitable bidder.