President Xi Jinping delivers keynote speech at Beijing summit

The Forum on China-Africa Cooperation is under way in Beijing. Chinese President Xi Jinping has delivered the keynote address at the opening ceremony. The summit is designed to enhance relations between China and countries on the continent. President Xi says China will implement eight major initiatives with African countries in the next three years and beyond. These will cover fields such as industrial promotion, infrastructure connectivity, trade facilitation and green development. China has honoured its 2015 promise to provide Africa with funding support of 60 billion dollars. President Xi has also made a unexpected announcement, saying that China will exempt certain African countries from outstanding debts owed to the Chinese government.

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[kakongedavid]

yes please!protectionism is the reason why africa has been having a snail pace on development especially in the induatrialisation sector.our soon to be FORMER western business alliances blocked us from this so that we could always be importers of things we can easily make from them.This is actually one big reason of the ongoing china-usa trade war.Its bigger than the already descent trade going on between africa and china.Another thing, would like to know if they paying this in what form?Dollars or RMB? Coz the bigger picture is to dedollarize the world economy by also wanting to nicely dump their dollars.Because they still have a few more years of doing good trade with the USA.As compared to how Russia, tTurkey and Iran dropping theirs.Which means with the trillions US currency debt in chinas hands.it will eventually be washed through Africa inform of nice deals to FOCAC then finally get it down one on one with the big ego !nation which will be the supreme currency war!, that might leave us in a fkd up situation if the dollar quickly gets KO'd while we stuck with all these piles of green Benjamins!hope our suited men are thinking that far or already have a backup currency for the black continent.plus theres more to it than this...long one but just a thought...