Achievement and potential

As the world grapples with deep deficits in global development, security and governance, the importance of solidarity, collaboration and shared growth among the Global South is becoming ever more evident.

- By ZHOU YUYUAN

China-Africa cooperation is not only a key part of this trend but also a leading example. Since the start of the century, the rapid growth and rising influence of China-Africa cooperation have helped unlock the potential of the Global South and offered an important reference for cooperation among developing countries.

In 2000, trade between China and Africa had only just passed $10 billion. The launch of the Forum on China-Africa Cooperation in the same year has fuelled their engagement ever since.

In 2024, trade between China and Africa soared to $295.6 billion, about 27 times higher than in 2000, and China has been Africa's largest trading partner for 16 consecutive years. By the end of 2022, China's cumulative direct investment in Africa had reached $47 billion. This deepening economic relationship has spurred Africa's export growth, attracted investment, diversified economies and driven industrialisation across the continent.

In the early 2000s, Africa's GDP stood at about $681.8 billion and China's at around $1.2 trillion. Together, China and Africa accounted for only about 5.6 per cent of the world economy.

In 2024, Africa's GDP rose to $2.85 trillion and China's to $18.8 trillion, bringing their combined global share close to 20 per cent. Cooperation in fields such as coffee processing, critical minerals and energy has played an important role in elevating Africa's economic weight and global influence.

China-Africa cooperation has served as a model for the wider Global South, with significant progress in infrastructure, energy, telecommunications and human resources.

China is now Africa's largest bilateral source of infrastructure financing, providing one-fifth of all funding for regional connectivity. This support not only helps close Africa's financing gap but also ensures timely delivery and early benefits from many projects, backed by Chinese engineering, efficiency and quality.