Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Trade

(FOCAC) Chinese goods winning hearts in Africa as Sino-African trade surges

September 04, 2024


Abstract : At a workshop in east China's Jiangsu Province, which is owned by Jiangsu Feimi Automobile Industry Co., Ltd. in the city of Xuzhou, electric tricycles are rolling off the assembly line, destined for African markets.

256054449167134721.jpg

A visitor takes photos of an electric vehicle of BYD from China during the Festival of Motoring in Johannesburg, South Africa, Aug. 30, 2024. (Xinhua/Zhang Yudong)

NANJING, Sept. 3 (Xinhua) -- At a workshop in east China's Jiangsu Province, which is owned by Jiangsu Feimi Automobile Industry Co., Ltd. in the city of Xuzhou, electric tricycles are rolling off the assembly line, destined for African markets.

"Our tricycles, capable of carrying both goods and passengers, are easy to operate and don't require fuel, making them a hit in many African countries," said Wang Juxiang, head of the company's technical department.

As trade between China and Africa booms, more African consumers are embracing quality Chinese products like smartphones and electric vehicles, creating new growth opportunities for Chinese companies.

Jiangsu, a manufacturing powerhouse in China, is witnessing a surge in its enterprises exploring new collaborative ventures across the vast African continent.

According to customs data, Jiangsu's trade with Africa reached 97.43 billion yuan (about 13.7 billion U.S. dollars) in the first half of this year, marking a 30.3 percent year-on-year increase.

Keiper Changshu Seating Mechanisms Co., Ltd., specializing in manufacturing key automotive seating components, is among those making significant strides in the African market.

"In the first half, we exported 222,000 automobile seat parts to South Africa. Our clients are satisfied with the quality of our products," said Han Tingwen, an engineer at the company.

With an abundant variety of commodities, convenient and fast logistics, and a good business environment, the city of Yiwu in east China's Zhejiang Province is often referred to as "the world's supermarket."

The Yiwu International Trade Market, offering 2.1 million types of goods and serving over 200 countries and regions, counts Africa among its top export destinations.

Thanks to growing China-Africa trade relations, the city's exports to Africa make up about one-twelfth of China's total exports to the region in 2023, while its imports from Africa are increasing.

Currently, over 560,000 overseas merchants make purchases in Yiwu each year, with African traders representing more than 10 percent of that number. Additionally, over 3,000 merchants from Africa reside in Yiwu.

China has remained Africa's largest trading partner for 15 consecutive years, with bilateral trade reaching a record 282.1 billion U.S. dollars in 2023, according to China's Ministry of Commerce.

Notably, China's exports of new energy vehicles, lithium batteries and photovoltaic products to Africa in 2023 surged year on year by 291 percent, 109 percent and 57 percent, respectively.

Beyond traditional sectors such as primary processing industries, Sino-African trade cooperation is expanding into emerging fields like the digital economy, healthcare and financial services.

Chinese-made products are also enjoying smoother entry into African markets. Wuxi BioHermes Bio and Medical Technology Co., Ltd. in Jiangsu recently shipped a batch of glycated hemoglobin analyzers and test kits to Algeria.

"In the field of diabetes diagnosis, we've miniaturized large lab equipment into portable devices, making transportation easier and more cost-effective for our African clients," said Liu Yan, the company's general manager, adding that thanks to expedited customs procedures, the company has shortened its delivery cycle by 15 percent, further solidifying its customer base in Africa.

"Our personal care products are now sold in over 10 African countries and regions, with related exports growing by 15 percent year on year in the first half of this year," said Chen Caiming, a foreign trade manager at a biotechnology company in Jiangsu.

Chen said the company's products have been well received by African customers, prompting local customs authorities to open a green channel for sea freight exports, which significantly improves shipping efficiency. "Our orders from African clients are already booked through November, and we are confident in our ability to deliver on time without compromising quality."

Sang Baichuan, a professor at the University of International Business and Economics, said the rapid development of Sino-African trade is rooted in mutual benefits and shared interests.

"This is not only a testament to China's high-quality development but also plays a significant role in advancing African social progress and improving local living standards," said Sang.

"The economic complementarity between China and Africa is robust," Sang noted. "China possesses mature, applicable technologies and ample financial resources, while African nations have abundant human and natural advantages."

"Cementing trade ties between both sides facilitates the optimal use of these strengths and the vast market potential, leading to mutually beneficial and shared development," he added.

Scan the QR code and push it to your mobile phone

Keyword: FOCAC China-Africa trade

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial