JOHANNESBURG, Dec 4 (Reuters) – Chinese President Xi Jinping told African leaders on Friday his country would pump $60 billion into development projects, cancel some debt and boost agriculture under a three-year plan that will extend Beijing’s influence in the continent.
Advertisement
Xi pledged China’s adherence to the principle of noninterference in internal affairs of the African countries amid strengthening economic ties, calling on both sides to stand side by side in safeguarding the common interests of developing countries.
The announcement comes on the heels of China’s slowing economic growth, a development which has had a profound impact upon the African continent’s economy.
PRESIDENT Lungu is expected here today for the Johannesburg summit of the 6th Forum on China-Africa Cooperation (FOCAC).
Analysts say that Chinese companies could find further opportunities in Africa’s North-South Corridor, which stretches from Durban in South Africa to Dar es Salaam in Tanzania. The two-day summit is expected to adopt the Johannesburg Declaration and Action Plan to outline aims and steps to build on the growing China-Africa partnership.
South Africa and China inked about 26 deals on Wednesday during the second state visit of Chinese President Xi Jinping to the African country. Zimbabwe President Robert Mugabe, who is also the current African Union Chairman, also addressed the summit.
According to China’s official Xinhua news agency, the assistance over three years will focus on 10 areas, including industrialisation, the modernisation of agricultural, financial services, green development and peace and security.
“Many nations have recognised the importance of partnering with China as evidenced by the attendance at the conference”, Mr Mwamba said.
“If we look at the 200 to 300 000 Chinese people doing business in South Africa – on one hand we have their concerns about the safety situation and on the other hand they can’t afford to leave because earning money is important”.
When meeting with Dlamini-Zuma, Xi said China and African countries should synergize their development strategies through pushing forward production capacity cooperation.
This is the first time Focac is being held in South Africa.
In a slew of pledges at his speech opening the Forum on China-Africa Cooperation (FOCAC), he also announced drought aid for the continent.
Advertisement
She said China’s measures in supporting Africa development as announced answered the expectation of African countries in a win-win situation.
