Collaboration transcends economic development

In a world characterized by complex challenges, China and Africa will embrace globalization and trade facilitation even more, and open up broader horizons for mutually beneficial cooperation in trade, infrastructure, agriculture and other areas, an African studies expert said.

"In a unified stance against unilateralism and protectionism, China and Africa should remain steadfast to uphold an open world economy and a multilateral trading system," Ye Hailin, dean of the China-Africa Institute at the Chinese Academy of Social Sciences, told China Daily in an exclusive interview.

The collaboration between the world's largest developing country and the continent with the highest concentration of developing nations transcends mere economic development, Ye said, with its impact extending far beyond the borders of the two regions to benefit the global community at large.

For the 15th consecutive year, China has solidified its status as Africa's leading trade partner, with the volume of trade between China and Africa steadily increasing its share of the continent's overall foreign trade, Ye said.

Data from the Ministry of Commerce showed that trade between China and Africa was worth a record $282.1 billion last year, nearly 35 percent more than in 2013.

While the economic partnership between China and Africa continues to strengthen, Ye said there are underlying issues that need to be addressed — particularly the need to diversify the trade structures between the two regions.

"Fields such as e-commerce and green development present promising opportunities for future growth in China-Africa cooperation," he said.

While trade serves as a cornerstone of China-Africa cooperation, another significant aspect that underscores the depth of the partnership is the surge in direct investment, particularly from China into Africa, Ye said.

By the end of last year, China's cumulative direct investment in Africa totaled more than $40 billion, solidifying its position as one of the primary sources of foreign capital for countries across the continent, according to the China Council for the Promotion of International Trade.

To foster even stronger economic ties between China and Africa, Ye said enhancing Africa's infrastructure and connectivity stands out as a focal point for progress.

However, financing infrastructure projects in Africa continues to pose a significant challenge. The African Development Bank estimates that between $130 billion and$170 billion is required for infrastructure development across the continent each year, with a financing gap ranging from $68 billion to$108 billion.

While infrastructure investment is encountering bottlenecks in various parts of the world, Africa's infrastructure landscape presents a unique opportunity for China to exhibit its expertise and contribute to the continent's development journey, Ye said.

Rather than focusing solely on grandiose structures, the key lies in matching infrastructure with local realities, so it serves as a catalyst for economic progress and enhances Africans' quality of life, he added.