China-Africa Summit: Xi Jinping to Promote New Economic Approach

The 9th Forum on China-Africa Cooperation (FOCAC) Summit is set to commence in Beijing, marking a significant milestone in Sino-African relations. Xi Jinping, China's President, will inaugurate the event, which aims to reshape economic ties between China and African nations.

This triennial gathering, established in 2000, brings together representatives from 50 African countries. The summit, starting on September 5, 2024, with a welcome dinner, will conclude on September 6, following negotiations on cooperation documents that will guide China-Africa relations until 2027.

China's approach to Africa has evolved significantly since becoming the continent's largest trading partner in 2009. The new focus is on "small and beautiful projects," a departure from the previous emphasis on large-scale infrastructure developments. This shift reflects China's desire to streamline its investment portfolio and realign its relationships with developing economies.

Xi Jinping is expected to highlight China's competitiveness in green technologies, an area where the country has significant capacity. This move comes as China seeks new markets for its products, particularly in sectors where it faces overcapacity concerns from Western competitors.

The summit will also address technology transfer schemes and increased people-to-people exchanges. China has already established 61 Confucius Institutes across Africa, promoting Chinese language and culture, and has provided scholarships to over 120,000 African students since 2000.

African leaders are approaching the summit with specific goals in mind. They seek swift financing solutions to address the growing debt crisis across the continent, as well as fresh investment pledges that can create jobs. South Africa's president has already expressed a desire to narrow his country's trade deficit with China, a sentiment shared by many African nations.

The Beijing Action Plan for 2025-2027 will be a key focus of discussions. African delegates will be looking for assurances that projects proposed at the 2021 Dakar summit will be completed. They will also seek confirmation that China's pledge to purchase $300 billion worth of African goods will be fulfilled.

"We want to narrow our country's trade deficit with China."

China's involvement in Africa has been extensive, with Chinese companies constructing over 100,000 km of roads and 1,000 bridges on the continent. Notable projects include the African Union headquarters in Addis Ababa and railways such as the Addis Ababa-Djibouti and Mombasa-Nairobi lines.

The summit provides an opportunity for bilateral meetings, with Xi Jinping having already met with more than 20 heads of state. These discussions are crucial for addressing specific concerns and opportunities unique to each African nation.

As the forum progresses, all eyes will be on the outcomes of these high-level negotiations and the potential for a new era of China-Africa cooperation focused on sustainable, mutually beneficial development.