President Edgar Lungu arrives in Beijing China

President Edgar Lungu arrives in Beijing China

President Edgar Lungu arrives in Beijing China

The event will be co-chaired by President Cyril Ramaphosa and China's President Xi Jinping.

Even the Americans and the British admitted they couldn't compete with that type of development financing, and some diplomats were aghast at the type of commitments that the Chinese made.

"China does not interfere in Africa's internal affairs and does not impose its own will on Africa", he said.

The Chinese projects in Africa include the Ethiopia-Djibouti railway and Kenya's standard gauge railway from Mombasa to Nairobi.

"President Xi Jinping will deliver an important keynote speech, comprehensively expounding on China's new ideas and proposals for enhancing its relations with Africa, announcing China's new actions, and measures for its practical cooperation with Africa", the release said.

Speaking at a business forum ahead of the start of a once-every-three-years China Africa summit, Xi said: "Resources for our cooperation are not to be spent on any vanity projects, but in places where they count the most".

Chinese and African leaders will have close interchanges, create stronger strategic guidance for cooperation as well as add new substance to the community considering new circumstances, which will also contribute to the building of a community with shared future for mankind.

Another pledge that Beijing has fulfilled from its 2015 summit is expanding the renminbi settlement and currency swap operations with African countries, a pledge under its financial plan.

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China has a wealth of experience in the use of ICT's by small and medium enterprises for example, and could provide them to African enterprises.

"I am satisfied that everyday we are improving our competitiveness in the region and internationally in terms of attracting investment into the country to grow our economy, modernise our economy".

Plans are afoot to strengthen tripartite collaboration between the International Telecommunication Union, China and Africa.

Djibouti has become heavily dependent on Chinese financing after China opened its first overseas military base in the Horn of Africa country past year, a powerful signal of the continent's strategic importance to Beijing.

At the summit's conclusion, South Africa will hand over the co-chairship of Focac to a new African country, having served six years (2012 to 2018) in this role.

There certainly is good reason for African countries to buy into China's development cooperation grand strategies. China-Africa trade volume amounted to 170 billion US dollars in 2017, up from just over 10 billion dollars in 2000, according to data from China's Ministry of Commerce.

This is similar to China's development trajectory decades ago. A cooperation mechanism between the developing countries has also been dubbed as that Asian country's largest home-field diplomatic activity. The action plan focuses on issues of political, economic, cultural, media and global cooperation among a host of others between China and Africa. World Bank President Jim Yong Kim has called it a "great story in human history".

Liberian President George Weah has said that his country is ready to align its "pro-poor agenda" with the China-proposed initiative.

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