China is committed to expanding its investment in Africa by further promoting corporate cooperation in various fields, according to a commerce official.
At a press conference on Wednesday in Beijing, Shen Xiang, director of the West Asia and Africa Department under the Ministry of Commerce, briefed the press on the current landscape of Chinese investment in Africa.
"African countries have seen steady economic development in recent years, with the overall business environment continuing to improve and the willingness of Chinese firms to invest in the continent significantly growing. Our data reveals that over the past five years, annual average direct investments from Chinese companies in Africa have consistently exceeded 3 billion U.S. dollars, with investment projects spanning a wide range of sectors. In addition, the entities involved in China's investments in Africa have become increasingly varied," he said.
Shen also noted that the ministry will further enhance the investment by fostering cooperation, especially among small and medium-sized enterprises (SMEs).
"The Ministry of Commerce will encourage Chinese companies to coordinate the construction of various industrial parks, logistics facilities, power and energy projects tailored to the resource endowments and industrial development plans of African countries, and promote the integrated development of investment and trade. It will continue to motivate enterprises from both sides to seize the opportunity of China's expanded opening up and achieve greater investment cooperation," said Shen.
"The ministry will also actively facilitate partnerships between SMEs between China and African countries, organize SMEs matching activities, support young entrepreneurs and women entrepreneurs from both regions to carry out innovation and entrepreneurship cooperation, so as to create broader avenues for cooperation among SMEs," he said.
China to expand investment in Africa by promoting corporate cooperation in various fields: official
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
