African leaders meet in Beijing for summit

Chinese President Xi Jinping and his wife, Peng Liyuan, hosted a lavish banquet for more than two dozen African leaders on Wednesday, inaugurating the Forum on China-Africa Cooperation (FOCAC) in Beijing.

At the forum, which runs through Friday, African leaders will explore possible investments and loans as Beijing seeks markets for its products – from household goods to green technologies – and to deepen China’s ties with Africa.

On Wednesday morning, China, Tanzania and Zambia signed an initial agreement to revive a decades-old railway project that aims to boost trade between the two African countries. The Tanzania-Zambia Railway Authority, or TAZARA, project aims to connect landlocked Zambia to Tanzania’s access to the sea by linking it to the main port of Dar es Salaam.

China rolls out the red carpet for African leaders

Beijing helped launch the TAZARA railway project in the 1970s, when Mao Zedong was China’s leader.

“China is willing to use this summit to make new progress in revitalizing the Tanzania-Zambia railway, cooperate to improve the rail-sea intermodal transport network in East Africa, and build Tanzania into a demonstration area for deepening high-quality China-Africa cooperation under the Belt and Road framework,” Xi said, according to state media.

China is Africa’s largest trading partner, and Beijing relies heavily on the continent for its natural resources, including copper, gold, lithium and rare earths. Zambia is Africa’s second-largest copper producer.

Ahead of the forum, Chinese state media described Xi Jinping as “a true friend of Africa,” saying China’s relations with Africa have reached “new heights” under his leadership.

At the last FOCAC summit in 2021, Beijing pledged to purchase more than $300 billion worth of African goods. According to the Chinese Foreign Ministry, China has already exceeded that target, purchasing $305.9 billion worth of African goods in about two and a half years.

Beijing has provided billions of dollars to African countries for infrastructure projects and analysts expect debt restructuring to be discussed at the meeting.

Chinese lending to Africa increased for the first time in years in 2023 to $4.61 billion, according to a new study released by Boston University’s Global Development Policy Center.

The study found that the increase in Chinese investment was largely due to risk reduction and China’s increased commitment to energy lending. China invested in three renewable energy projects in Africa last year, in the areas of solar and hydropower.

Analysts say Africa offers Beijing access to many new markets that could help it offset some of the resistance it currently faces from the West and elsewhere over subsidies and cheaper products. The transition to green energy is also expected to be a major theme at the summit.

Another factor at play is the West’s recent crackdown on Chinese green tech imports, which has imposed steep tariffs on some Western countries. Last week, Canada imposed a 100% tariff on Chinese-made electric vehicles, and the United States is considering imposing a similar tax on Chinese green tech.

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