The 9th Forum on China-Africa Cooperation (September 04–06, 2024), held in Beijing, China this year, set a 3-year agenda for buttressed ties between the world's second largest economy and the world's fastest growing continent.
At FOCAC, which is the primary multilateral coordination mechanism between China and African countries (with the exception of Eswatini which maintains diplomatic ties with Taiwan), Chinese President Xi Jinping promised to extend 360 billion yuan ($50.70 billion) in financial assistance to African states, 210 billion of which would be disbursed through credit lines and at least 70 billion in fresh investment by Chinese companies, with smaller amounts in military aid and other projects.
Additionally, Xi pledged to create at least one million jobs, carry out 30 infrastructure projects, launch 30 clean energy projects, support the continent's nuclear energy goals and help to address a power deficit that has long held back Africa's broader industrialisation objectives.
Not only that but China will give all the least developed countries having diplomatic relations with China – which includes 33 African countries – a zero-tariff treatment for 100 percent tariff lines.
China has long been a genuine friend of Africa.
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