China has maintained its position as Africa's largest trading partner for 15 consecutive years

Xinhua News Agency, Beijing, August 29 (reporter Chen Weiwei) The Report on the Development of the the Belt and Road Jointly Constructed by China and African Countries was released on the 29th of the 2024 edition of the Blue Book. The report shows that China has maintained its position as Africa's largest trading partner for 15 consecutive years, and the proportion of China Africa trade volume to Africa's overall foreign trade volume has steadily increased.

The Office of the Leading Group for Promoting the Construction of the "the Belt and Road", the National Development and Reform Commission and relevant departments and units have studied and prepared the 2024 version of the Blue Book of the Report on the Development of the "the Belt and Road" Jointly Constructed by China and African Countries. The purpose of the report is to systematically sort out the development achievements of China and African countries in jointly building the "the Belt and Road" cooperation, summarize the important enlightenment of China Africa cooperation, and look forward to the bright future of China Africa practical cooperation.

At a special press conference held on the same day, Xu Jianping, Director of the Regional Opening Department of the National Development and Reform Commission, said that in terms of economic and trade rule docking, as of the end of June this year, China has implemented zero tariffs on 98% of taxable products originating from 27 least developed countries in Africa, signed bilateral investment promotion and protection agreements with 34 African countries, and signed double taxation avoidance agreements with 21 African countries.

Xu Jianping introduced that with the support and guarantee of the "soft connectivity" of China Africa economic and trade rules, the trade volume between China and Africa will reach 282.1 billion US dollars in 2023, setting a new historical peak for the second consecutive year; By the end of 2023, China's stock of direct investment in Africa will exceed 40 billion US dollars; In 2024, China Africa trade and investment will continue to maintain a steady development trend, fully demonstrating the strong vitality and resilience of China Africa economic and trade cooperation.