Xi's $50 Billion Pledge for 10 Partnership Actions at FOCAC - Meetings with African Leaders - Data on RMB’s Use in International Trade
Before we get to the paper, earlier today Xi Jinping delivered his keynote address at the FOCAC meeting. The entire English text is available on the MFA website. Xi Jinping outlined 10 domains of cooperation announcing a range of initiatives. The total commitment to these is RMB 360 billion (approximately $50 billion). Of this, RMB 210 billion is through line of credit and RMB 80 billion is through different forms of assistance.
Key text from the speech:
“Over the past 24 years, especially in the new era, China has advanced forward hand in hand with our African brothers and sisters in the spirit of sincerity, real results, amity and good faith. We stand shoulder to shoulder with each other to firmly defend our legitimate rights and interests as once-in-a-century changes sweep across the world. We get stronger and more resilient together by riding the tide of economic globalization, delivering tangible benefits to billions of ordinary Chinese and Africans. We share weal and woe in fighting natural disasters and epidemics together, creating touching stories of China-Africa friendship. We always empathize with and support each other, setting a stellar example of a new type of international relations.”
“Modernization is an inalienable right of all countries. But the Western approach to it has inflicted immense sufferings on developing countries. Since the end of World War II, Third World nations, represented by China and Africa countries, have achieved independence and development one after another, and have been endeavoring to redress the historical injustices of the modernization process. As we are about to celebrate the 75th anniversary of the People’s Republic of China, we are going all out to build a great modern socialist country in all respects and pursue national rejuvenation through a Chinese path to modernization. Africa is also awakening again, and the continent is marching in solid strides toward the modernization goals set forth in the AU’s Agenda 2063. China and Africa’s joint pursuit of modernization will set off a wave of modernization in the Global South, and open a new chapter in our drive for a community with a shared future for mankind.”
Then Xi put forth six views on modernisation and then outlined “ten partnership actions for modernization to deepen China-Africa cooperation and spearhead the Global South modernization” over the next three years. These are:
First, the Partnership Action for Mutual Learning among Civilizations. China is ready to work with Africa to build a platform for governance experience sharing, a China-Africa knowledge network for development, and 25 centers on China and Africa studies. We will make better use of Africa’s leadership academies to cultivate talents for governance, and invite 1,000 members of African political parties to China to deepen exchanges of experience in party and state governance.
Second, the Partnership Action for Trade Prosperity. China will voluntarily and unilaterally open its market wider. We have decided to give all LDCs having diplomatic relations with China, including 33 countries in Africa, zero-tariff treatment for 100 percent tariff lines. This has made China the first major developing country and the first major economy to take such a step. It will help turn China’s big market into Africa’s big opportunity. China will expand market access for African agricultural products, deepen cooperation with Africa in e-commerce and other areas, and launch a ‘China-Africa quality enhancement program.’ We are prepared to enter into framework agreements on economic partnership for shared development with African countries to provide long-term, stable and predictable institutional guarantee for trade and investment between the two sides.
Third, the Partnership Action for Industrial Chain Cooperation. China will foster industry cooperation growth clusters with Africa, push forward the Pilot Zone for In-depth China-Africa Economic and Trade Cooperation, and launch an ‘African SMEs empowerment program.’ We will build with Africa a digital technology cooperation center and initiate 20 digital demonstration projects so as to embrace together the latest round of technological revolution and industrial transformation.
Fourth, the Partnership Action for Connectivity. China is prepared to carry out 30 infrastructure connectivity projects in Africa, promote together high-quality Belt and Road cooperation, and put in place a China-Africa network featuring land-sea links and coordinated development. We are ready to assist in the development of the African Continental Free Trade Area, and deepen logistics and financial cooperation for the benefit of trans-regional development in Africa.
Fifth, the Partnership Action for Development Cooperation. China is ready to release the Joint Statement on Deepening Cooperation within the Framework of the Global Development Initiative with Africa, and implement 1,000 “small and beautiful” livelihood projects. We will replenish the China-World Bank Group Partnership Facility to boost Africa’s development. We support Africa in hosting the 2026 Youth Olympic Games and the 2027 Africa Cup of Nations. We will work together with Africa to deliver more fruits of development to the two peoples.
Sixth, the Partnership Action for Health. China is ready to establish with Africa a hospitals alliance and joint medical centers. We will send 2,000 medical personnel to Africa, and launch 20 programs of health facilities and malaria treatment. We will encourage Chinese companies to invest in Africa’s pharmaceutical production, and continue to do what we can to help Africa with epidemic response. We support the development of the Africa Centers for Disease Control and Prevention to strengthen public health capacity in all African countries.
Seventh, the Partnership Action for Agriculture and Livelihoods. China will provide Africa with RMB1 billion yuan in emergency food assistance, build 100,000 mu (about 6,670 hectares) of standardized agriculture demonstration areas in Africa, send 500 agricultural experts, and establish a China-Africa agricultural science and technology innovation alliance. We will implement 500 programs in Africa to promote community welfare. We will also encourage two-way investment for new business operations by Chinese and African companies, enable Africa to retain added value, and create at least one million jobs for Africa.
Eighth, the Partnership Action for People-to-People Exchanges. China will implement with Africa more solidly the Future of Africa—Vocational Education Cooperation Plan, establish together an engineering technology academy, and build ten Luban Workshops. We will provide 60,000 training opportunities to Africa, mainly for women and youths. We will launch with Africa a Cultural Silk Road program as well as an initiative of cooperation on innovation in radio, TV and audio and visual programs. The two sides have agreed to designate 2026 as the China-Africa Year of People-to-People Exchanges.
Ninth, the Partnership Action for Green Development. China is ready to launch 30 clean energy projects in Africa, put in place meteorological early warning systems, and carry out cooperation in disaster prevention, mitigation and relief as well as biodiversity conservation. We will create a China-Africa forum on peaceful use of nuclear technology, establish together 30 joint laboratories, and collaborate on satellite remote sensing and lunar and deep-space exploration. All this is designed to help with green development in Africa.
Tenth, the Partnership Action for Common Security. China is ready to build with Africa a partnership for implementing the Global Security Initiative (GSI), and make it a fine example of GSI cooperation. We will give Africa RMB1 billion yuan of grants in military assistance, provide training for 6,000 military personnel and 1,000 police and law enforcement officers from Africa, and invite 500 young African military officers to visit China. The two sides will conduct joint exercises, training and patrol, carry out an ‘action for a mine-free Africa’, and jointly ensure the safety of personnel and projects.
To implement the ten partnership actions, the Chinese government will provide 360 billion yuan of financial support through the next three years. This breaks down into 210 billion yuan of credit line, 80 billion yuan of assistance in various forms, and at least 70 billion yuan of investment in Africa by Chinese companies. In addition, China will encourage and support Africa in issuing panda bonds in China to enhance our results-oriented cooperation in all areas.
Here are the key reports and articles that I found noteworthy from the People’s Daily’s edition on Thursday, September 05, 2024.
Page 1: Once again the front page is entirely dedicated to FOCAC. At the top of the page is a report on Xi Jinping’s toast (English text) at the welcome dinner last night. In attendance were 51 African heads of state and government and their spouses, two presidential representatives, the Chairperson of the AU Commission and the Secretary-General of the United Nations. The entire PBSC was also in attendance.
Next, there’s a report on Xi’s meeting with Senegalese President Bassirou Diomaye Faye. It says:
Xi Jinping pointed out that China is willing to strengthen exchanges of experience in governance with Senegal, deepen political mutual trust, and continue to support each other on issues involving each other’s core interests and major concerns. It will strengthen the alignment of development strategies and promote common development. China will continue to send agricultural technology experts to support Senegal, support Senegal in building industrial parks, expand cooperation in emerging fields such as new energy, and help advance Senegal’s industrialization and agricultural modernization. China and Senegal have similar positions on many major international issues. China is willing to work closely with Senegal in multilateral cooperation to jointly safeguard international fairness and justice and the common interests of developing countries. 习近平指出，中方愿同塞方加强治国理政经验交流，深化政治互信，继续在涉及彼此核心利益和重大关切问题上相互支持。加强发展战略对接，促进共同发展。中方将继续派遣农业技术专家，支持塞方建设工业园区，拓展新能源等新兴领域合作，助力塞方工业化和农业现代化进程。中塞在很多重大国际问题上立场相近，中方愿同塞方密切多边协作，共同维护国际公平正义和发展中国家共同利益.
As per the report, Faye said:
“Senegal firmly adheres to the one-China principle, opposes the politicisation of human rights issues, is committed to consolidating and deepening the friendship between Senegal and China, and is willing to learn from China’s successful experience in Party and state governance, promote cooperation in agriculture, industry, digitalization, vocational training, youth and other fields, and push the comprehensive strategic partnership between Senegal and China to a higher level…Senegal highly appreciates the Belt and Road Initiative and the Global Development Initiative, Global Security Initiative and Global Civilization Initiative proposed by President Xi Jinping, appreciates China's commitment to promoting common development and fairness and justice, and is willing to strengthen multilateral communication and cooperation with China.” 塞方坚定恪守一个中国原则，反对将人权问题政治化，致力于同中方巩固深化塞中友谊，愿学习借鉴中方治党治国成功经验，推进农业、工业、数字化、职业培训、青年等领域合作，将塞中全面战略合作伙伴关系推向更高水平...塞方高度评价习近平主席提出的共建“一带一路”倡议和全球发展倡议、全球安全倡议、全球文明倡议，赞赏中方致力于推动共同发展和公平正义，愿同中方加强多边沟通协作.
A joint statement was issued after the meeting. Deals were also struck in the fields of implementing GDI, investment and economic cooperation, information and communication technology, human resources, and green development.
Finally, there’s a very brief report on China, Tanzania and Zambia signing an MoU on the revitalization project of the Tanzania-Zambia Railway Authority (TAZARA) railway.
Page 2: This page carries all the reports on Xi’s bilateral meetings.
First, Xi’s meeting with Sierra Leonean President Julius Maada Bio. Xi told him that “The Third Plenary Session of the 20th CPC Central Committee made systematic arrangements for further deepening reform and promoting Chinese-style modernization, which will bring more opportunities to countries around the world, including African countries”.
“Xi Jinping stressed that China and Sierra Leone should continue to stand firmly together on issues involving each other’s core interests and major concerns. China is willing to exchange experiences in governance with Sierra Leone, strengthen the alignment of development strategies, deepen cooperation in agriculture, infrastructure, resources and energy, implement economic and livelihood projects, and continuously improve people’s well-being. China is willing to strengthen coordination and cooperation with Sierra Leone under multilateral frameworks such as the United Nations, promote solidarity and cooperation among countries in the Global South, advocate an equal and orderly multipolar world, and inclusive economic globalization, and jointly safeguard the interests of Africa and the vast number of developing countries.” 习近平强调，中塞两国要继续在涉及彼此核心利益和重大关切问题上坚定站在一起。中方愿同塞方开展治国理政经验交流，加强发展战略对接，深化农业、基础设施、资源能源等领域合作，实施好经济和民生项目，不断增进民众福祉。中方愿同塞方在联合国等多边框架下加强协调配合，促进全球南方国家团结合作，倡导平等有序的世界多极化、普惠包容的经济全球化，共同维护非洲和广大发展中国家利益.
As per the report, Julius Maada Bio thanked China for its support, and hoped to further strengthen cooperation in agriculture, security and other fields. He added:
“President Xi Jinping has proposed a series of major global initiatives, made important contributions to promoting world peace and development, and demonstrated outstanding leadership. Sierra Leone highly appreciates this. He thanked China for its support for Sierra Leone in fulfilling its duties as the rotating presidency of the UN Security Council and was willing to strengthen international multilateral cooperation with China. Sierra Leone firmly adheres to the one-China policy and is willing to be a trustworthy friend of China.” 习近平主席提出系列重大全球倡议，为促进世界和平和发展作出重要贡献，展现出卓越领袖风范，塞方高度赞赏。感谢中方支持塞拉利昂履行联合国安理会轮值主席国职责，愿同中方加强国际多边协作。塞方坚定奉行一个中国政策，愿做中国值得信赖的朋友.
Second, Xi’s meeting with Teodoro Obiang Nguema Mbasogo, president of the Republic of Equatorial Guinea. Xi said:
“China is willing to firmly support Equatorial Guinea, expand practical cooperation, deepen defense and security cooperation, help facilitate the diversified development of Equatorial Guinea's economy, and open up new prospects for the comprehensive strategic partnership of cooperation between the two countries.”
Obiang reportedly said that “the relationship between Equatorial Guinea and China is based on deep friendship and high mutual trust, and the cooperation between the two sides has yielded fruitful results, with close coordination in international affairs. Chinese investment and cooperation have brought about a transformation in Equatorial Guinea, and China has made significant contributions to promoting world peace. Equatorial Guinea is willing to further strengthen bilateral and multilateral cooperation with China. Equatorial Guinea firmly adheres to the One-China principle and supports the efforts of the Chinese government to achieve national reunification.” 奥比昂表示，我抵达北京伊始即感受到中国人民对于赤道几内亚和非洲人民的真挚友好。这次峰会组织工作周密细致，主题设计契合非洲国家追求现代化的梦想，相信一定会取得圆满成功。赤道几内亚同中国的关系基于深厚友谊和高度互信，双方合作成果丰硕，在国际事务中保持密切协调。中国企业的投资和合作帮助赤道几内亚面貌焕然一新，中国为促进世界和平作出重要贡献。赤道几内亚愿同中方进一步密切双多边合作。赤道几内亚坚定恪守一个中国原则，支持中国政府为实现国家统一所作努力.
Third, Xi’s meeting with Tanzanian President Samia Suluhu Hassan. Xi said that:
“China is willing to work with Tanzania to comprehensively promote and deepen the China-Tanzania comprehensive strategic cooperative partnership, so that ties can benefit the two peoples more and the traditional friendship between China and Tanzania can be passed on from generation to generation. The two sides should strengthen exchanges of experience in state governance, enhance political and strategic mutual trust, and deepen mutually beneficial and pragmatic cooperation. China is willing to take this summit as an opportunity to push for new progress in the revitalization project of the Tanzania-Zambia Railway, and jointly improve the rail-sea intermodal transport network in East Africa, and build Tanzania into a demonstration zone for deepening China-Africa high-quality cooperation in jointly building BRI.” 中方愿同坦方一道，全面推进和深化中坦全面战略合作伙伴关系，让中坦关系更多造福两国人民，让中坦传统友好代代相传。双方要加强治国理政经验交流，增进政治战略互信，深化互利务实合作。中方愿以本次峰会为契机，推动坦赞铁路激活取得新进展，合作完善东非铁海联运网，将坦桑尼亚打造成深化中非高质量共建“一带一路”合作示范区.
“Talking about the China-Africa Dar es Salaam Consensus jointly issued by Chinese and African scholars in Tanzania in March, Xi said that it reflects the consensus among Global South countries on development path and philosophy. The China-Tanzania relations are in line with the historical trend of development of the Global South, holding significant values and playing a leading role. China is willing to work with Tanzania to make China-Tanzania relations a model for China-Africa relations and Global South cooperation, and make greater contributions to promoting the building of a community with a shared future for mankind.” 今年3月，中非学者在坦桑尼亚共同发布“中非达累斯萨拉姆共识”，体现了全球南方国家发展道路和理念共识。中坦关系契合全球南方发展壮大的历史潮流，具有重要的理念价值和引领作用。中方愿同坦方将中坦关系打造成中非关系和全球南方合作的样板，为推动构建人类命运共同体作出更大贡献.
Hassan said that “China is a trusted and indispensable partner of Tanzania.” She added that Tanzania’s ruling party, Chama Cha Mapinduzi, “has a deep brotherly friendship with the Communist Party of China. Tanzania is willing to make good use of the Mwalimu Julius Nyerere Leadership School, deepen party building training and exchanges of experience in governance with China, and continuously expand practical cooperation in various fields”. 中国是坦桑尼亚信赖和不可或缺的合作伙伴。坦桑尼亚革命党对中国共产党有着兄弟般深厚情谊，坦方愿用好尼雷尔领导力学院，同中方深化党建培训和治国理政经验交流，不断扩大各领域务实合作. She also backed BRI.
Fourth, Xi’s meeting with Zambian President Hakainde Hichilema. Xi said:
“both sides should continue to maintain close exchanges at all levels, enhance mutual learning and exchanges, deepen political mutual trust, firmly support each other, expand pragmatic cooperation, and strengthen international coordination. China is willing to share development opportunities with Zambia and encourage more enterprises to actively participate in cooperation in areas such as new energy, water resources development, and electricity in Zambia, contributing to Zambia's and Africa's industrialization and modernization process.” 习近平强调，双方要继续密切各层级交往，加强交流互鉴，深化政治互信，坚定相互支持，扩大务实合作，加强国际协作。中方愿同赞方共享发展机遇，鼓励更多企业积极参与赞比亚新能源、水资源开发、电力等领域合作，助力赞比亚和非洲工业化现代化进程.
Hichilema reportedly said: “The African side admires the great achievements made in China’s development and congratulates the successful convening of the Third Plenary Session of the 20th CPC Central Committee. It hopes to learn from China's successful experience and bring more benefits to the African people…The Zambian side firmly adheres to the one-China principle and is willing to comprehensively deepen cooperation with China, continuously enhance the level of the comprehensive strategic cooperative partnership between the two countries, and welcome more Chinese companies to invest in Zambia. China is committed to promoting peace and dialogue and has played an important constructive role in promoting global peace and stability. The Zambian side appreciates China's outstanding leadership in international affairs and is willing to work closely with China in multilateral cooperation.” 非方钦佩中国发展取得的伟大成就，祝贺中共二十届三中全会成功召开，希望学习借鉴中国成功经验，为非洲人民带来更多福祉...赞方坚定恪守一个中国原则，愿全面深化对华合作，不断提升两国全面战略合作伙伴关系水平，欢迎更多中国企业赴赞投资。中方致力于劝和促谈，为促进全球和平稳定发挥了重要建设性作用。赞方赞赏中方在国际事务中展现的杰出领导力，愿同中方密切多边协作.
The two sides signed deals related to soybean export to China, medical and health care, and development cooperation.
Fifth, Xi’s meeting with Mozambican President Filipe Jacinto Nyusi. Xi said that:
“The two sides should be good brothers who support and trust each other, good partners for mutually beneficial cooperation and common development, and good friends who help each other and work together in solidarity. China is willing to expand cooperation with Mozambique in the fields of infrastructure, energy and minerals, agriculture, digital economy, etc., to help Mozambique’s industrialization and economic diversification…China supports Mozambique in combating terrorism and maintaining national stability, and is willing to work closely with Mozambique on multilateral platforms such as the United Nations. 双方要做相互支持、相互信任的好兄弟，互利合作、共同发展的好伙伴，守望相助、团结协作的好朋友。中方愿同莫方拓展基础设施、能源矿产、农业、数字经济等领域合作，助力莫桑比克工业化和经济多元化...中方支持莫方打击恐怖主义、维护国家稳定，愿同莫方在联合国等多边平台密切合作.
As per the report, Nyusi expressed his congratulations on the successful convening of the Third Plenary Session of the 20th CPC Central Committee. The CPC’s strategic deployment on further deepening reform and promoting Chinese-style modernization fully reflects President Xi Jinping’s foresight. Mozambique firmly adheres to the one-China principle, supports China’s position on core interests such as Taiwan and the South China Sea, supports China’s ‘one country, two systems’ policy, and opposes groundless accusations against China on human rights and other issues. It hopes to deepen cooperation with China in the fields of economy, trade, agriculture, connectivity, and security. Mozambique highly appreciates the series of global initiatives proposed by President Xi Jinping and the major propositions put forward for improving global governance. It is willing to increase mutual support with China on multilateral issues and promote the building of a more fair and reasonable international order.” 纽西表示，祝贺中共二十届三中全会成功召开，中共有关进一步全面深化改革、推进中国式现代化的战略部署充分体现了习近平主席的远见卓识。莫方坚定恪守一个中国原则，支持中方在台湾、南海等核心利益问题上的立场，支持中方“一国两制”政策，反对在人权等问题上对中国无端指责。希望同中方深化经贸、农业、互联互通、安全等领域合作。莫方高度赞赏习近平主席提出的系列全球倡议以及为改善全球治理提出的重大主张，愿同中方在多边议题上加大相互支持，推动构建更加公平合理的国际秩序。预祝此次中非合作论坛北京峰会取得圆满成功.
The two sides signed agreements on export of agricultural products like macadamia nuts and cashews to China and news media cooperation.
Sixth, Xi’s meeting with President of the Libyan Presidency Council Mohamed al-Menfi. They announced the establishment of a strategic partnership between the two countries. Xinhua reports:
“China has a traditional friendship with Libya, and China’s stance of supporting Libya's stable development and boosting friendly bilateral cooperation will not change no matter how the situation evolves, Xi said. He said China supports Libya in safeguarding national sovereignty, independence and territorial integrity, and finding a path for peace, stability and prosperity through dialogue and consultation. China supports Libya in rebuilding its economy and improving people's livelihood, and hopes that Libya creates a sound business environment for Chinese enterprises, he said. Xi added that China is ready to work with Libya to strengthen dialogue and cooperation with African and Arab countries, strengthen communication on multilateral platforms including the United Nations, boost solidarity and coordination among Global South countries, and safeguard the common interests of developing countries and international fairness and justice.”
Among other things, al-Menfi said that “Libya is willing to strengthen economic, trade and investment cooperation with China within the framework of jointly building the BRI and FOCAC. Libya welcomes Chinese companies to participate in Libya’s economic reconstruction, and Libya is willing to provide a good environment for this. Libya firmly adheres to the one-China principle and will not change under any circumstances.” 利方愿同中方在共建“一带一路”和中非合作论坛框架内加强经贸投资合作，欢迎中国企业参与利比亚经济重建，利方愿为此提供良好环境。利方坚定恪守一个中国原则，任何情况下都不会改变.
Seventh, Xi’s meeting with Gabonese President Brice Clotaire Oligui Nguema. Xinhua reports:
“Xi mentioned that the projects jointly implemented by China and Gabon, such as those involving vocational education and the upgrading of the power grid in Gabon's capital, have been welcomed by the Gabonese people. China is willing to deepen bilateral cooperation in infrastructure, agriculture, health and digital economy to assist Gabon's efforts in economic diversification and transformation, Xi said. China will also strengthen cooperation with Gabon in anti-terrorism and security areas to promote domestic stability in both countries and regional peace and security, he added.”
The Gabonese president said that his country “firmly adheres to the one-China policy and is willing to celebrate the 50th anniversary of the establishment of diplomatic relations between the two countries with China, actively participate in the joint construction of the BRI…”
The two sides inked deals on investment and economic cooperation, infrastructure construction, and other areas.
Eighth, Xi’s meeting with Cameroonian President Paul Biya. Xinhua reports:
“The two leaders announced the elevation of bilateral ties to a comprehensive strategic partnership… (Xi said that) China has always supported Cameroon in safeguarding national unity and ethnic solidarity, fighting terrorism, as well as achieving peace and development. China is willing to advance bilateral cooperation in fields such as infrastructure, industrial development, connectivity, agriculture and health, and to assist Cameroon in diversifying its economy.”
Biya said that “Cameroon enjoys a favourable geographical location and high-quality talent resources, and welcomes more Chinese enterprises to invest in Cameroon, helping to transform its advantages in mineral resources into development momentum. Cameroon firmly adheres to the One China principle, appreciates and supports the series of global initiatives proposed by President Xi Jinping, and is willing to strengthen multilateral cooperation with China to promote global governance that better upholds world peace and international fairness”. 喀拥有优越地理位置和高素质人才资源，欢迎更多中国企业赴喀投资，帮助喀方把矿产资源等优势转化为发展动能。喀方坚定恪守一个中国原则，赞赏并支持习近平主席提出的系列全球倡议，愿同中方加强多边协作，推动全球治理更加有利于维护世界和平和国际公平正义.
Ninth, Xi’s meeting with Ethiopian Prime Minister Abiy Ahmed. Xi said:
“The two countries have a solid foundation of political mutual trust, and cooperation in various fields is constantly moving towards a higher level. China is willing to continue to deepen solidarity and cooperation with Ethiopia, promote the continuous development of the all-weather strategic partnership between the two countries, and make greater contributions to promoting China-Africa friendship. Xi Jinping emphasized that for a long time, China and Ethiopia have always firmly supported each other in defending their respective core interests, resolutely opposed external interference, and forged an unbreakable iron-clad friendship…China supports Ethiopia’s post-war reconstruction and development and revitalization. It is willing to take this FOCAC as an opportunity to expand practical cooperation between the two countries, support Ethiopia to give full play to its regional transportation hub advantages, promote the integrated development of infrastructure construction and industry, and build a rail-sea intermodal transport network in East Africa and a demonstration zone for high-quality China-Africa joint construction of BRI. China is willing to strengthen communication and cooperation with Ethiopia at the regional level and within the framework of the United Nations, BRICS and other frameworks, promote the implementation of the ‘Outlook on Peace and Development in the Horn of Africa’, and jointly safeguard international fairness and justice.” 习近平指出，埃塞俄比亚是非洲国家谋求独立解放和自主发展的榜样，中埃塞关系堪称中非友好合作的榜样。两国政治互信基础牢固，各领域合作不断迈向更高水平。中方愿同埃塞持续深化团结合作，推动两国全天候战略伙伴关系不断向前发展，为推动中非友好作出更大贡献。习近平强调，长期以来，中埃塞两国始终坚定支持彼此捍卫各自核心利益，坚决反对外部势力干涉，锻造了坚不可摧的铁杆友谊。双方要做高度互信、共同发展、团结互助、文明互鉴的好伙伴，以高水平政治互信提升双边合作的战略性和引领性。中方支持埃塞战后重建和发展振兴，愿以此次中非合作论坛峰会为契机，扩大两国务实合作，支持埃塞发挥地区交通枢纽优势，推动基础设施建设同产业联动融合发展，打造东部非洲地区铁海联运网络和中非高质量共建“一带一路”合作示范区。中方愿同埃塞在地区层面和联合国、金砖等框架内加强沟通协作，推进落实“非洲之角和平发展构想”，共同维护国际公平正义.
Page 3: There’s a report on Chen Min’er’s visit to the UAE. He met with Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE. Xinhua says:
“Chen noted that China is willing to work with the UAE to take the 40th anniversary of diplomatic relations as an opportunity to actively implement the important consensus reached by the two heads of state, strengthen exchanges and mutual learning of experience in governance and modernization, and advance the high-quality Belt and Road cooperation. Chen, who is also the secretary of the CPC Tianjin Municipal Committee, said that Tianjin is ready to give full play to its advantages to strengthen cooperation with the UAE, especially Dubai, in fields such as economy, trade, investment, free trade zone and port construction, thereby contributing to the development of bilateral relations. For his part, the UAE vice president and prime minister said that his country attaches great importance to developing relations with China and is satisfied with the sound development momentum of bilateral exchanges and cooperation in fields such as politics, economy, trade, investment, and people-to-people exchanges. The UAE, especially Dubai, is willing to further deepen the docking of development strategies and mutually beneficial cooperation in various fields with China, so as to promote greater development of bilateral relations, added Mohammed bin Rashid, who is also ruler of Dubai.”
The report adds: “During the visit, Chen also attended the 2024 ‘Invest China’ Tianjin Session and facilitated the signing of several cooperation agreements, including a memorandum between the Tianjin Free Trade Zone and the UAE's Jebel Ali Free Zone, and a cooperation agreement between Tianjin Port Group and DP World”.
Page 8: There’s a report on the publication of a new notice clarifying specific measures for the work related to new infrastructure development. This was issued by the Ministry of Industry and Information Technology, the Central Cyberspace Affairs Commission and 11 other departments. New infrastructure covers 5G networks and fiber broadband networks; computational infrastructure, such as data centers and general-purpose computing centers; and new technological facilities, such as artificial intelligence and blockchain infrastructure.
Finally, although this isn’t in the paper. Below is some useful data on RMB’s use in international trade.
SWIFT data shows that the RMB accounted for 4.74% of global payment currencies in July, the highest level on record.
Standard Chartered Global Research also showed that the Standard Chartered RMB Global Index maintained its upward momentum for the fifth consecutive month in July, with an increase of 17% since the beginning of the year.
Data from the People’s Bank of China showed that from January to July this year, 27% of all cross-border settlements of goods trade in China were settled in RMB, an increase of 2 percentage points from the whole year of 2023.
As of the end of July, overseas institutions held 4.5 trillion yuan in RMB bonds in China, a year-on-year increase of 37%.
Data released by the Bank for International Settlements (BIS) show that as of the end of March, the stock of RMB international debt securities was $219.5 billion, an increase of 77% over the same period in 2022.
Data from SWIFT shows that in July, the share of RMB in global trade financing reached 6% for the first time in recent years; the RMB has now been in second place for two consecutive months, surpassing the Euro.
So far, PBOC has authorized 33 RMB clearing banks in 31 countries and regions, and signed 29 effective bilateral local currency swap agreements.