"African countries prioritize industrialization over infrastructure, says China"

1 min read
Source: Reuters
"African countries prioritize industrialization over infrastructure, says China"
Photo: Reuters
TL;DR Summary

African countries are urging China to shift its focus from infrastructure development to local industrialization, according to Wu Peng, China's director-general of African affairs. This request comes in light of the Africa Continental Free Trade Agreement (AfCFTA), which aims to promote tariff-free trade among African nations. China will discuss its plans for African industrialization with African leaders during a special roundtable at the BRICS summit. Chinese investments in Africa, particularly from small and medium-sized companies, are expected to increase, as Chinese companies are willing to take risks in the African market.

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