Trade Promotion

China-Africa economic, trade cooperation forges on

2019-3-7 9:49:25

China-Africa economic and trade cooperation is developing smoothly, and it's suggested that governments in Africa further improve their business environment to attract more Chinese investment, said Nan Cunhui, vice-president of the All-China Federation of Industry and Commerce.

"The local governments should promote the liberalization and facilitation of foreign trade and investment, as well as facilitate the innovation of the tax policy and the foreign exchange policy, such as lifting foreign exchange controls, and offering foreign companies favorable tax policies," said Nan, who also is a member of the National Committee of the Chinese People's Political Consultative Conference.

He added that it is also important to maintain the continuity of government policies, such as offering aid to foreign enterprises that established factories in Africa.

According to Nan, there are over 10,000 Chinese enterprises in Africa, among which 90 percent are private enterprises. Chinese private enterprises contributed to the infrastructure construction of Africa's roads, railroads and airports, offering support to the economic development of African countries, as well as solving their development bottleneck.

"Apart from infrastructure construction, Chinese private enterprises also contributed to the local employment, tax revenue collection, improvement of residents' living conditions, as well as cultural exchange.

"In addition, Chinese private enterprises brought their advanced development ideas to Africa. For example, in one of the industrial parks in Egypt, Chinese enterprises have the world-class logistics, technology, equipment and management skills. They help the local employees improve work abilities and product better products. The China-Africa economic and trade cooperation is beneficial for both parties," Nan said.

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