Chinese President Xi Jinping announced ten partnership actions for modernization during the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) in Beijing on Thursday. The initiative, which spans the next three years, is aimed at supporting Africa’s economic growth and integration into the global economy, with China pledging to open its markets to the continent and create at least one million jobs.
Addressing the opening ceremony, President Xi outlined an overarching vision for China and Africa to jointly forge ahead on their paths toward modernization. He emphasized that this partnership is essential for both regions to achieve their developmental goals and create a more equitable global order.
Zero-Tariff Treatment for African Countries
One of the key highlights of Xi’s speech was the announcement of zero-tariff treatment for all least-developed countries that have diplomatic relations with China, including 33 African nations. This policy applies to 100 percent tariff lines, marking a historic step as China becomes the first major developing country and the first major economy to take such a bold move. By removing trade barriers, China aims to facilitate greater access for African products to its vast market, thereby boosting Africa’s export potential and economic diversification.
Xi’s commitment to expand market access for African agricultural products is seen as a crucial step toward enhancing food security on the continent. The initiative also includes deepening cooperation in e-commerce and launching the “China-Africa Quality Enhancement Program” to improve the standards and competitiveness of African goods in international markets.
Financial Support and Investment
To implement these actions, China has committed to providing 360 billion yuan (approximately $50.7 billion) in financial support. This package comprises 210 billion yuan in credit lines, 80 billion yuan in various forms of assistance, and at least 70 billion yuan in investments by Chinese companies in Africa. This comprehensive financial backing is expected to stimulate significant economic activity and job creation across the continent.
The financial assistance will target critical sectors such as infrastructure, technology, healthcare, and education, areas that are pivotal to Africa’s modernization efforts. By investing in these sectors, China aims to help African nations build the necessary foundations for sustained economic growth and improved living standards.
Strategic Relations and Shared Future
The summit also saw the adoption of the Beijing Declaration on Jointly Building an All-Weather China-Africa Community with a Shared Future for the New Era and the FOCAC-Beijing Action Plan (2025-27). These documents outline a strategic framework for China-Africa relations, underscoring a commitment to solidarity, mutual benefit, and shared development.
President Xi highlighted the significance of elevating bilateral relations between China and all African countries that have diplomatic ties with China to the level of strategic relations. He underscored that China-Africa relations are now at their best in history, characterized by mutual respect, deep cooperation, and a shared vision for the future.
The summit was attended by dignitaries from African nations, including heads of state and government from 51 countries, presidential representatives from two countries, and United Nations Secretary-General Antonio Guterres. The high-level attendance reflects the importance of the China-Africa partnership and the global attention it commands.
A New Era of China-Africa Relations
Xi’s proposal to elevate China-Africa relations to an all-weather community with a shared future for the new era signifies a deepening of ties beyond economic cooperation. It envisions a relationship built on strategic alignment, where both parties work collaboratively to address global challenges such as climate change, digital transformation, and sustainable development.
The initiatives announced at the summit signal China’s commitment to supporting Africa’s aspirations for modernization and self-reliance. As China and Africa embark on this journey together, the partnership is expected to set a new benchmark for international cooperation, fostering a more inclusive and balanced global economy.
By advancing this collaborative agenda, China and Africa are not only strengthening their bilateral ties but are also setting an example of how nations can work together to achieve common developmental goals, paving the way for a more prosperous and interconnected world.
