China-Africa trade thrives with record trade volumes and diversified investments

Economic and trade cooperation between China and African countries has advanced steadily, driven by projects for trade promotion, investment facilitation, poverty alleviation and agricultural benefit, according to Chinese Ministry of Commerce.

China has maintained its position as the largest trading partner of Africa for 15 consecutive years.

In the first half of 2024, China’s imports from Africa reached 60.1 billion U.S. dollars, a significant increase of 14 percent year on year, with imports of agricultural products recording positive growth for seven consecutive years.

China has expanded the range of zero-tariff products for the least-developed countries to 98 percent of tariff items.

China has also signed 22 protocols for imports of agricultural products with 14 African countries. Over the past few years, there has been a significant surge in the imports of African agricultural goods into the Chinese market.

In 2023, China’s imports of fresh pears from South Africa and avocados from Kenya grew by 1,733 percent and 624 percent year on year, respectively.

China’s direct investment in Africa has maintained a growing trend over the past years, with direct investment flows to countries such as South Africa, Egypt and Zambia exceeding 100 million U.S. dollars for several years in a roll, covering various sectors including automobiles, home appliances and agricultural product processing.

China’s first overseas economic and trade cooperation zone in Africa, the Zambia-China Economic and Trade Cooperation Zone, has attracted nearly 1