China Has Been Africa'S Largest Trading Partner For Ten Consecutive Years.

Qian Keming, Vice Minister of Commerce, pointed out in June 4th that the trade cooperation between China and Africa has stabilized steadily since the party's eighteen largest.

In 2018, trade between China and Africa reached US $204 billion 200 million, an increase of 20% over the same period last year. China has been Africa's largest trading partner for ten consecutive years.

The news conference was held in June 4th by the State Council, and vice minister of Commerce Qian Keming introduced the relevant economic and trade cooperation between China and African countries at the meeting.

Qian Keming pointed out that since the eighteen Party Congress, especially since the Beijing summit of China Africa Cooperation Forum last year, the Ministry of Commerce has adhered to the concept of true sincerity and sincerity and the correct concept of justice and interests. It has focused on building a "one belt and one road" around China and Africa, fully implemented the "ten major cooperation plans" of the Johannesburg summit of the China Africa Cooperation Forum, and implemented the eight major actions of the Beijing summit.

It is mainly manifested in the following aspects:

First, the stability of trade cooperation is good.

In 2018, trade between China and Africa reached US $204 billion 200 million, an increase of 20% over the same period last year. China has been Africa's largest trading partner for ten consecutive years.

At the same time, the trade structure has also been continuously optimized. Among them, the non export volume of electromechanical products and high-tech products accounts for 56% of China's total non exports. China's imports of non resource products from Africa have also increased significantly. In 2018, China's non imports increased by 32% over the same period last year, of which 22% of the agricultural products grew by 22%.

China and Mauritius have formally concluded negotiations on the FTA. We can say that institutional arrangements in the field of trade have also made new breakthroughs.

Two, there are bright spots in infrastructure cooperation.

Chinese enterprises have taken an active part in the construction of African infrastructure. In recent years, they have implemented a large number of major projects in the fields of rail pit, ports, aviation, electricity and so on. They have made important contributions to the development of interconnectivity in Africa, and have also accelerated China's technology, equipment, standards and services to Africa.

The Ministry of Commerce has also actively guided Chinese enterprises to pform the integration mode of investment, construction and operation, enhance the hematopoietic function of the project, and alleviate the financial pressure of the project government.

The three is the deep integration of industrial investment.

By the end of 2018, China had established more than 3700 enterprises in Africa, and the stock of direct investment in non industry sectors was more than 46 billion US dollars.

The overseas cooperation area has become an important support for China's investment in Africa, and has accelerated the growth of China's investment in non industrial chain integration. The industrial agglomeration effect has gradually emerged, forming many industrial clusters, such as manufacturing equipment, light industry and textiles, household appliances and so on, which has greatly enhanced the level of local industrialization, industrial matching and export earning capacity.

Four, the emerging field of cooperation is in the ascendant.

China's financial institutions have set up more than 10 branches in Africa.

Eight countries, including South Africa, have included Renminbi in their foreign exchange reserves.

China has also established RMB clearing arrangements with Zambia, and has signed currency swap agreements with 4 countries such as Morocco.

Cooperation in new formats such as cross-border electricity supplier cooperation has also increased rapidly. China is negotiating with Rwanda and other countries to establish an e-commerce cooperation mechanism. The Alibaba and Rwanda government announced the joint establishment of Africa's first world electronic trading platform.

Qian Keming pointed out that the next step is that the Ministry of Commerce will take China Africa as a leader in building the "one belt and one road" and take the implementation of the "eight actions" as the main line, and support Africa's ability to foster endogenous growth, and work together with the African side to jointly promote the development of Sino African Economic and trade cooperation in the new era.