Knowing All about Hunan

The First China-Africa Economic and Trade Expo Held Successfully in Hunan

Updated:2019-07-02 11:36:37

The first China-Africa Economic and Trade Expo closed Saturday in Changsha, the capital city of central China's Hunan Province.

A total of 84 deals worth 20.8 billion U.S. dollars were reached in trade, agriculture, tourism, and other fields during the three-day event, which saw 14 activities, including the opening ceremony, seminars, conferences, and forums, as well as an exhibition.

Experts, businessmen, and officials from China and African countries discussed the new methods of the cooperation between the two sides during the event.

International organizations including the United Nations Industrial Development Organization, the World Food Programme, and the World Trade Organization have sent representatives to the expo.

The expo, with an exhibition area of more than 40,000 square meters, attracted over 100,000 guests and traders, including those from 53 African countries, according to the organizing committee.

Hunan enjoys a unique geological edge in carrying out the major strategy for the rise of central China as it sits at the transportation heart of central China, borders Guangdong and overlooks Hong Kong and Macao. As an active promoter of the Belt and Road Initiative (BRI), it has been more important in enhancing China's opening up and business in recent years.

Hunan and Africa have seen rapid growth in trade and investment, with the bilateral trade growing by over 50% for four years running and having reached USD 2.8 billion in 2018. More than 120 Hunan-based companies, including CRRC Zhuzhou Locomotive, Yuan Long Ping High-Tech, SANY, and Broad Homes, are promoting their business in such sectors as construction, trade, machinery manufacturing, and mineral resources development in Africa.

Going forward, said a leader of the Hunan government, the province, guided by the spirit of China-Africa cooperation in the BRI, would give priority to the eight major initiatives set out at the FOCAC Beijing Summit in 2018. Emphasis will be on supporting Africa in fostering its endogenous growth momentum so as to ensure the high-quality development of China-Africa business cooperation in the new era.

Foreign media covered the news of the First China-Africa Economic and Trade Expo.