China-Africa Expo: Forging a Path Toward Shared Modernization
The fourth China-Africa Economic and Trade Expo (CAETE) kicked off in Changsha, capital of Central China’s Hunan Province, from June 12 to 15. Under the theme “China and Africa: Together Toward Modernization,” the expo is set to strengthen ties between China and African nations, promoting cooperation across various sectors.
This year’s expo features 30 economic and trade activities spanning modern agricultural machinery, clean energy, industrial chains, traditional medicine, smart mining technology and equipment, cultural industries, and youth entrepreneurship. The event has attracted over 300,000 participants from 53 African countries, 27 Chinese provincial-level regions, 11 international organizations, and more than 4,700 Chinese and African enterprises, business associations, and financial institutions.
Launched in 2019, CAETE has become a significant platform for fostering China-Africa cooperation. Over the past three sessions, a total of 336 cooperation projects worth $53.32 billion have been signed. This year, organizers anticipate 128 new cooperation projects with a total value exceeding $7 billion, covering areas such as transportation, healthcare, energy, manufacturing, information services, and culture.
A Bridge for Mutual Growth
For African nations, the expo offers an invaluable opportunity to access China’s vast market and attract investment in critical sectors, including agriculture, clean energy, transport, healthcare, and manufacturing. Despite abundant natural resources, many African countries face challenges in modernizing agriculture, driving industrialization, and unlocking the potential of value-added industries to foster job creation and economic growth.
Platforms like CAETE play a pivotal role in addressing these challenges by facilitating technology transfer, infrastructure financing, and skills development. By establishing cooperation agreements with Chinese counterparts, African enterprises can accelerate efforts to transform and upgrade traditional sectors.
Showcasing Cooperation and Innovation
For the first time, the expo will feature special exhibitions highlighting established China-Africa cooperation brands, high-quality African products, and collaborative efforts in tourism and traditional Chinese medicine. New initiatives, such as granting zero-tariff treatment for 100 percent of tariff lines to the least developed countries having diplomatic relations with China—including 33 countries in Africa—aim to enhance the visibility of African brands in the Chinese market and unlock new growth opportunities.
Strengthening Ties Amid Global Challenges
Against the backdrop of growing protectionism and rising trade tensions, trade and investment remain cornerstones of China-Africa cooperation. China has been Africa’s largest trading partner for 16 consecutive years. In 2022, China-Africa trade volume surpassed 2.1 trillion yuan ($290 billion) for the first time, and this momentum continues, with trade volume from January to May of this year reaching about $134 billion, a 12.4 percent increase year-on-year.
Chinese investments in key sectors such as agriculture, energy, transport, and manufacturing have supported modernization efforts across the continent. Chinese-backed industrial parks and economic zones, like the Zambia-China Economic and Trade Cooperation Zone, the Lekki Free Trade Zone in Nigeria, Ethiopia’s Kombolcha Industrial Park, and the China-Egypt Suez Economic and Trade Cooperation Zone, have generated employment opportunities and boosted trade prosperity.
Building a Shared Future
As new growth opportunities emerge, platforms like CAETE play an indispensable role in building a close-knit China-Africa community with a shared future. By ensuring that economic and trade gains serve the common interests of both sides, the expo contributes to global economic development and the well-being of people across both regions.
