KXIP vs KKR Live Score

Themed "China and Africa: Toward an Even Stronger Community with a Shared Future through Win-Win Cooperation", the summit is expected to be attended by leaders and officials from 53 African states except Swaziland, the tiny African kingdom which still remained allied with Taiwan, spurning Beijing's overtures.

"As the RMB [yuan] becomes weaker, and China is perceived internationally as a more ambiguous partner, it's more likely that the countries will take a more jaundiced eye on these projects", she added.

More concrete projects are expected to come into being during the upcoming series of FOCAC events, including the High-Level Dialogue of China-Africa Leaders and Business Representatives and the 6th China-Africa Business Forum.

President Muhammadu Buhari arrived Beijing Saturday, September 1, to attend the Beijing summit of the Forum on China-Africa Cooperation (FOCAC) holding between September 3 and 4, 2018 and would secure a bank facility of $328 million for the development of ICT infrastructure.

At the last three-yearly gathering in Johannesburg in 2015, Xi announced $60 billion of assistance and loans for Africa.

Foreign Minister Wang Yi said August 22 that Xi would introduce new initiatives to boost cooperation with African nations, without elaborating.

The value of China-Africa trade hit the US$16.5 billion mark in January 2018. South Africa is the top destination of Chinese investment in Africa, with investments of more than $25bn in accumulative terms having accrued by June 2017.


"China's cooperation with Africa is clearly targeted at the major bottlenecks to development".

China's push to cut debt at home, and the cooling of its economy, will affect "non-urgent projects", said Yang Baorong, an expert on African debt at the Chinese Academy of Social Sciences. The focus will be on political and economic cooperation, social development cooperation, cultural and people exchanges, peace and security, and worldwide cooperation.

Amid growing criticism over its debt-heavy approach to foreign aid, China is hosting a summit for African leaders on Monday aimed at promoting Beijing's vision for development on the continent. Dozens of African leaders have met with Chinese President Xi Jinping ahead of the conference.

"Chinese and African leaders will exchange in-depth views on the development of China-Africa relations and worldwide and regional issues of common concern", it said.

This was the central message delivered by President Cyril Ramaphosa on his state visit to the People's Republic of China yesterday as part of his investment drive.

The two heads of state are also scheduled to hold bilateral talks on the sidelines of the summit. In addition, South Africa hosts the largest number of Chinese tourists in Africa, with about 100 000 citizens having visited the country in 2017.

"I call on African countries to make full use of the summit to strive for the well-being of the people of both China and Africa", Khaled said.


COMMENTS