Despite Western nations impose restrictions on Chinese exports, China is set to encourage African countries to import more of its green technology products, such as electric vehicles (EVs) and solar panels. This initiative will be a key focus at the upcoming Forum on China-Africa Cooperation (FOCAC) summit in Beijing, where leaders from 50 African nations will gather.
China’s primary goal is to find new markets for its green technologies, which face overcapacity issues in the U.S. and European Union. Beijing aims to establish overseas production bases in emerging markets, including Africa.
During the summit, African leaders are expected to seek assurances from China regarding the fulfilment of past trade commitments, including a pledge from the 2021 summit to purchase $300 billion worth of goods. Additionally, they will inquire about the progress of incomplete infrastructure projects funded by China, such as a railway intended to connect the greater East African region.
China, Africa’s largest two-way trade partner and investor, is shifting its focus from large-scale infrastructure projects to promoting advanced and green technologies. This shift is reflected in the recent changes to China’s loan conditions for Africa, which now prioritize solar farms, EV plants, and 5G Wi-Fi facilities over traditional infrastructure like bridges and ports.
President Xi Jinping is expected to highlight the benefits of integrating into China’s growing green energy sector during his address at the summit. The event will see participation from leaders of countries such as Gambia, Kenya, Nigeria, South Africa, and Zimbabwe, among others.
In response to China’s increasing influence in Africa, other global powers, including the United States, Britain, Italy, Russia, and South Korea, have also been hosting summits with African leaders. However, China’s extensive role as a financial and trade partner makes its engagements particularly significant.
#Reuters Tech News
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