23-8-2023 (JOHANNESBURG) China’s top diplomat for Africa, Wu Peng, has stated that African nations are urging China to shift its focus from infrastructure development on the continent towards promoting local industrialization. This statement was made during a briefing on the sidelines of the BRICS summit held in South Africa.
Wu Peng, the director-general of China’s department of African affairs at its foreign ministry, emphasized that the call for a shift in focus came as African integration gains momentum. Many African countries have expressed the desire for China to reorient its efforts to align with the goals of the Africa Continental Free Trade Agreement (AfCFTA), which was launched at the beginning of 2021. AfCFTA aims to facilitate tariff-free trade among African nations.
China intends to engage African leaders in discussions regarding its plans for industrialization on the African continent during a special roundtable scheduled to be held on the sidelines of the BRICS bloc meeting, which includes Brazil, Russia, India, China, and South Africa.
Between 2000 and 2020, Chinese lenders, primarily state-owned banks, extended loans amounting to $160 billion to African countries, as reported by Boston University. These loan commitments surged after Chinese President Xi Jinping launched the “Belt and Road Initiative” in 2013, a program aimed at funding infrastructure projects in developing countries. However, these commitments witnessed a significant decline, dropping from a peak of $28.4 billion in 2016 to $1.9 billion in 2020.
Wu emphasized the urgency of addressing “emergency issues” rather than waiting for the next Forum for China-Africa Cooperation, which is a regular meeting between Chinese and African ministers scheduled for next year.
Furthermore, Wu noted that Chinese investments in Africa, particularly from small and medium-sized companies, are set to increase. He expressed the commitment of Chinese companies to venture into Africa, emphasizing their willingness to take risks and contribute to the continent’s development, regardless of global or Chinese economic fluctuations.
