China's economic ties with Africa continue to strengthen rapidly
China-Africa trade relations have reached new heights, with trade volumes growing 5.5% year-on-year to $166.6 billion from January to July. China continues to invest in Africa, cementing its position as the continent's top trading partner and largest investor.
China's economic ties with the African region continue to grow, according to official data from the General Administration of Customs of China. From January to July 2024, China-Africa trade increased by 5.5% year-on-year to reach $166.6 billion. China has maintained its status as Africa's top trading partner for the past 15 years.
China's exports to Africa are particularly strong in the high-tech sectors. For example, shipments of new energy vehicles, lithium batteries, and photovoltaic products showed significant growth of 291%, 109%, and 57%, respectively.
In turn, imports of agricultural products from Africa also increased, with nuts, vegetables, flowers, and fruits showing year-on-year growth of 130%, 32%, 14%, and 7%, respectively.
China is investing heavily in Africa, spending a record $21 billion in 2023 on infrastructure, agricultural modernization, and mining. A pilot zone for deepening China-Africa economic cooperation is planned for 2027, further strengthening these ties.
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