BEIJING, Nov. 19 (Xinhua) -- A landmark report titled "Charting a New Vision for Modernization: Hunan's Initiatives and Explorations in China-Africa Economic and Trade Cooperation" has been launched at the Global South Media and Think Tank Forum China-Africa Partnership Conference recently held in South Africa's Johannesburg, offering a practical model for deepening South-South cooperation.
The report systematically reviews the achievements in China-Africa economic and trade cooperation, highlighting the progress in building the Pioneering Zone for In-depth China-Africa Economic and Trade Cooperation, which is an important initiative among China's 10 cooperation plans and nine programs of China-Africa cooperation.
The report indicates that the Pioneering Zone has made positive achievements in institutional innovation, pilot exploration, and model breakthroughs. A series of "pioneering" initiatives introduced in the zone, marked by first creations, first trials, and first showcases, has provided valuable practical examples for deepening South-South cooperation.
In terms of "first creations", Hunan pioneered the launching of a pre-evaluation system to help African food enter Chinese market.
Meanwhile, Hunan started a trial operation of a new type of barter trade with Africa and introduced specialized insurance products. By the end of October, the province saw the cumulative value of this new barter trade with Africa reaching 204 million yuan (about 28.7 million U.S. dollars), ranking first nationwide. An innovative model of "overseas warehouses + FTN accounts + local currency settlement" has also been introduced.
Additionally, the brand building of "Quality African Products" has shown remarkable results, helping African products explore their markets in China. Over 120 African branded products are now available in China's shopping centers.
China has maintained its position as Africa's largest trading partner for 16 consecutive years, with investment and project contracts growing continuously, making positive contributions to the development of Africa, says the report.
The report notes that strengthening China-Africa economic and trade cooperation is of great significance for promoting common development and advancing South-South cooperation in the backdrop of profound changes in global landscape.
The report suggests that both sides should improve the cooperation mechanisms, deepen industrial cooperation, innovate financial services, and enhance digital and intelligent empowerment to further elevate the level of cooperation. (Edited by Li Xueqing with Xinhua Silk Road, lixueqing@xinhua.org)
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