The Information Office of the People’s Government of Hunan Province held a press conference on August the 30th, 2021. It said that ever since Hunan Province became the permanent location for the 2019 China-Africa Economic and Trade Expo (CAETE), China-Africa economic and trade cooperation has achieved remarkable results.

The Hunan government, relying on the two national platforms of the ‘China-Africa Economic and Trade Expo’ and the leading area for in-depth economic and trade cooperation between China and Africa has strived to build “five centers”. They are the African non-resource product distribution trading and processing center, the logistics center for China’s central and western regions’ cooperation with African countries, the local and African economic and trade cooperation promotion center, the research center for local economic and trade cooperation with Africa, and the China-African cross-border RMB center. Significant achievements have been made.

The cooperation platform has been and will continue to be, improved. China-Africa economic and trade cooperation has accelerated the construction of innovation demonstration parks. In the first phase, 98 leading enterprises and business associations in cooperation with Africa have now settled down within Hunan.

The industrial chain has taken shape. The African non-resource product distribution trading and processing center has achieved initial results. The African coffee, nut, and cocoa trading center has achieved a transaction volume of 272 million USD since it operated last year. Rwanda dried peppers were approved to enter the Chinese market. The first Barter trade trial order to Africa was completed this July.

The international channel keeps expanding. Two passenger routes have been opened: Changsha to Nairobi, Kenya; and Changsha to Luanda, Angola. On top of that, there are currently various new transport channels being created: ‘The Hunan-Guangdong-Africa railway-sea combined transport channel’, the ‘Hunan-Shanghai-Africa river-sea combined transport channel’, the ‘Hunan-Africa air cargo route and the truck-air combined transport’, and the ‘truck-sea combined transport channel’. A three-dimensional logistics system of “sea, land, and air” in central China and even in the whole of China have been formed.

The service mechanism has been further advanced. In terms of financial services, the China-Africa cross-border RMB service center has settled in the Hunan branch of ICBC. It is cooperating with African national banks in Egypt, Nigeria, Kenya, and other African countries on an RMB account cooperation. Services for public accounts that support foreign exchange settlement and sales in five African countries’ currencies have been offered. In terms of resident services, the China-Africa resident service centers have been established in Algeria, Kenya, and Nigeria. The projects such as the import of sesame seeds from Nigeria, the import of coffee beans from Ethiopia and Kenya, the import of Algerian olive oil, and the Nigerian photovoltaic industrial park have been promoted.

Initial results have been achieved in the construction of think tanks. The China-Africa Economic and Trade Cooperation Research Association of Hunan Province and the China-Africa Economic and Trade Cooperation Vocational Education Industry Education Alliance have been established. The China-Africa Economic and Trade Cooperation Research Institute is currently being established. Hunan government has been committed to building a first-class domestic and internationally renowned think tank brand, providing intellectual support and talent support for China-Africa economic and trade cooperation.

This article is from Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn