China Commits to Expanding Investments in Africa, Focusing on Diverse Sectors and SME Cooperation

China reaffirms its dedication to bolstering investments in Africa, aiming to enhance corporate collaboration across various industries. The Ministry of Commerce underscores this commitment, highlighting the growing interest of Chinese enterprises in the continent’s evolving economic landscape. Shen Xiang, Director of the Ministry’s West Asia and Africa Department, emphasizes the sustained momentum in Chinese direct investments in Africa, exceeding $3 billion annually over the past five years. While China traditionally prioritized sectors like infrastructure and manufacturing, Shen emphasizes the diversification of investment entities. The Ministry plans to deepen these engagements by fostering partnerships, particularly among small and medium-sized enterprises, to drive industrial park construction and energy projects aligned with African countries’ development strategies. This strategic approach aims to stimulate greater investment synergies and advance trade integration between the two regions. Source: Africa News