"China\u2019s Premier Signals Country Is Open to African Business"

" China\u2019s Premier Signals Country Is Open to African Business \r\n Premier Li Qiang signaled that China will open up more to businesses in Africa, comments likely aimed at fending off worries about a record trade surplus with the continent. \r\n The Asian nation will \u201cexpand unilateral opening up to the least developed countries and work with Africa to keep promoting mutual opening up,\u201d Li said Friday in Beijing at the Forum on China-Africa Cooperation. \u201cWe need to further strengthen market connectivity.\u201d \r\n He pledged to facilitate agricultural shipments and a greater amount of \u201chigh-quality goods\u201d from Africa to China, and invited nations to make greater use of a supply-chain expo Beijing launched last year. \r\n Li\u2019s brief speech appeared aimed at addressing worries about China\u2019s trade surplus with Africa climbing to a record $64 billion last year. South African President Cyril Ramaphosa told Chinese leader Xi Jinping earlier that he wanted to see that figure shrink and \u201caddress the structure of our trade.\u201d \r\n Ramaphosa also called \u201cfor more sustainable manufacturing and job-creating investments.\u201d \r\n Other Africans suggested on the sidelines of the forum that the trade imbalance was a concern for them. Ambassador Akinremi Alade Bolaji, director of the Nigerian Foreign Ministry\u2019s trade department, said trade \u201chas to be deliberately adjusted.\u201d He added that he was encouraged by a pledge Xi made earlier to provide more market access. \r\n Sourakhata Tirera, a Senegalese businessman based in the Chinese manufacturing hub of Yiwu, said that \u201cWe don\u2019t want to live our life only for importing.\u201d \r\n \u201cThis is not good for our next generation,\u201d he said. \r\n In his speech on Thursday, Xi unveiled a raft of economic sweeteners for Africa, showcasing China\u2019s commitment to strengthening its influence over a continent that\u2019s key to his geopolitical ambitions. That primarily involves offsetting what Beijing views as US \u201chegemony\u201d of world affairs. \r\n Xi vowed to provide $50 billion in financial support, including $10 billion in investment by Chinese companies. He also waived all tariffs for 33 low-income African economies and pledged to create 1 million jobs on the continent. \r\n Li expanded on the job-creation theme in his remarks Friday at the forum, Beijing\u2019s main vehicle for managing its relationships in Africa. \u201cChinese companies in Africa should continue to localize their operations, create more local jobs, train more local talent, and further contribute to local people\u2019s wellbeing,\u201d he said. \r\n China\u2019s three-day charm offensive highlights Beijing\u2019s strategy of positioning itself as the leader of the Global South, a term for the world\u2019s developing nations. "

"China\u2019s Premier Signals Country Is Open to African Business"

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