A vision for South-South cooperation

ON MARCH 7, 2025, during a press conference at the Fourth Session of the 14th National People’s Congress, Member of the Political Bureau of the CPC Central Committee and Chinese Foreign Minister Wang Yi, reaffirmed China’s unwavering commitment to strengthening solidarity and cooperation with developing countries, particularly African partners.

- DR XUAN CHANGGENG, Deputy Governor of the People’s Bank of China; LI ZHONGGONG Consul-General of the People’s Republic of China in Durban

His address, marked by sincerity and vision, highlighted China’s role as a steadfast ally of the Global South. As Africa’s economic powerhouse and a pivotal member of the BRICS mechanism, South Africa remains one of China’s closest collaborators on the continent.

Minister Wang emphasised: “China will always be a member of the developing world and a staunch partner of the Global South.” This solemn pledge underpins China’s foreign policies and serves as the cornerstone of China-South Africa relations.

Amplifying the voice of the Global South, China has consistently championed pioneering initiatives in global governance. At the 2023 G20 Finance Ministers Meeting hosted by South Africa, China advocated for promoting sustainable finance and climate financing on the agenda while pledging to amplify Africa’s voice in international financial institutions.

Dr Xuan Changgeng, Deputy Governor of the People’s Bank of China, stated: “China stands ready to work with South Africa and other emerging economies to build a fairer global financial architecture.”

This commitment resonates deeply with President Cyril Ramaphosa’s “African Renewal” strategy. Notably, China has maintained its position as Africa’s largest trading partner for 16 consecutive years, with bilateral trade exceeding $300 billion in 2024. South Africa alone accounts for over 18% of this, setting a benchmark for South-South collaboration.