The establishment of the China-Africa Development Fund is an important measure for practical cooperation with Africa announced by the Chinese government at the 2006 Forum on China-Africa Cooperation, aiming to encourage and support Chinese enterprises to invest in Africa.

Since its establishment in 2007, the China-Africa Development Fund has invested nearly US$6 billion in decision-making in 37 African countries, leveraging US$27 billion in Chinese enterprises' investment and financing in Africa. The investment projects involve infrastructure, production capacity cooperation, agriculture and people's livelihood and other urgently needed development in Africa. field.

Vigorously carry out investment in Africa

For example, Hisense South Africa Home Appliance Park project adheres to localized production, provides local residents with a large number of energy-saving refrigerators and smart home appliances, and at the same time drives the overall upgrading of local manufacturing and supporting industries, adding 2,000 local jobs and 5,000 technical trainings; Ghana Power Plant Project Power generation from local natural gas resources has been operating stably for 10 years and can meet 15% of Ghana's national electricity demand.

At the same time, a new round of technological revolution and industrial transformation is accelerating. my country proposes to build a new development pattern and is committed to expanding opening to the outside world at a higher level. The China-Africa Fund is developing in emerging industries such as healthcare, digital economy, education and people's livelihood, and green development. We will step up efforts to explore new fields and explore new investment opportunities. Since last year, China-Africa Fund has cooperated with China Telecom and China Mobile to deepen the construction of digital infrastructure in Africa, help Africa's digital economy and new infrastructure, and benefit more African people through online education and community connectivity.

Lou Wenjian said that at the Johannesburg Summit of the Forum on China-Africa Cooperation in 2015, President Xi Jinping announced to increase the capital of the China-Africa Development Fund by US$5 billion, reaching a scale of US$10 billion. As a product of the Forum on China-Africa Cooperation and China's first equity fund focusing on investment in Africa, the China-Africa Development Fund solves the bottleneck of lack of capital for China-Africa cooperation projects through direct investment, and drives China's capital, technology, standards, production capacity and management experience Entering Africa, sharing African development opportunities, creating local jobs, increasing exports and tax revenue, effectively achieving mutual benefit and win-win results and common development, have played a leading role in the China-Africa joint construction of the Belt and Road Initiative and the building of a China-Africa community with a shared future.

Strengthen China-Africa economic and trade cooperation

Lou Wenjian pointed out that in the future, the China-Africa Fund will further focus on Africa's concerns and better play its role as the main investment platform. Focusing on the implementation of the "Nine Projects" and the requirements of the "Dakar Action Plan", it will focus on promoting health, digital economy, education and people's livelihood, Cooperation in green and low-carbon fields, strengthen innovation in PPP and other models, and provide new impetus, reflect new responsibilities, and demonstrate new achievements in the process of promoting China-Africa high-quality joint construction of the Belt and Road.

At the same time, it will further deepen cooperation with local governments such as Hunan, support the construction of a pilot zone for China-Africa economic and trade cooperation, pool more resources to support the development and revitalization of Africa, and boost the quality and upgrade of China-Africa economic and trade cooperation.Editor/XuNing