Chinese officials announced the successful conclusion of the third China-Africa Economic and Trade Expo, revealing that 120 projects with a total value of $10.3 billion USD were signed during the four-day event. The expo took place in Changsha, the capital of Hunan Province, known for its active economic and trade engagement with Africa.
Zhou Yixiang, Deputy Secretary-General of the Hunan provincial government, highlighted the record-breaking participation in this year’s expo, with over 1,700 foreign guests and more than 10,000 domestic guests attending. Shen Yumou, Head of Hunan’s Department of Commerce, noted the significant increase in the number of exhibitors and African exhibits, up 70 percent and 166 percent, respectively, compared to the previous expo.
The event saw a comprehensive representation, with all 53 African countries that maintain diplomatic ties with China in attendance, along with 12 international organizations, over 1,700 Chinese and African enterprises, business associations, chambers of commerce, and financial institutions. Shen emphasized that this strong turnout demonstrates the enduring vitality and resilience of China-Africa economic and trade cooperation.
China holds the position of Africa’s largest trading partner and ranks as the fourth-largest source of investment. Official figures indicate that bilateral trade between China and Africa reached $282 billion USD in 2022. Furthermore, China’s new direct investment in Africa in the first four months of this year reached $1.38 billion USD, reflecting a 24 percent year-on-year increase.