Browsing: Xi Jinping

• China reopening after lifting restrictions under the zero-Covid-policy
• 2023 to be a tough recovery year for Beijing
• President Xi Jinping to lead China recovery

As China is about to finish the Year of the Tiger in January in what was meant to be a year of recovery, what is in store for Sino-Africa relations?

President Xi Jinping has had his hands full this past few years the least of reasons not been the Covid-19 that has severely slumped China’s otherwise skyrocketing economic trajectory.

To keep its people safe and to some extent, to show the world that it is taking all measures to prevent the mistakes of 2019 that led to the spread of the Covid-19 pandemic. Whether it is a US-Euro politically triggered compliance, or its own strong arm, China has gone over and above the general world’s response post the pandemic.

Beijing, initiated its zero-Covid-policy, characterized by widespread …

The signal coming from the CCP congress is that the world should not expect a change in policy against Covid anytime soon despite its important ramifications for the global economy. On the domestic front, the economy of China has not been doing well. Ever since its economy started to slow down, unemployment has been on the uptick, with at least 20% of young people in China said to be unemployed. 

China is also in the throes of a housing crisis, with several large property developers on the brink of financial ruin and or bankruptcy. The case of the Evergrande Group is the most prominent. The property company rose to prominence by developing massive housing projects fueled by the availability of cheap credit from the government first and from private lenders.

The urbanization of China through the migration of citizens to urban areas drove demand for apartments. Developers eager to satisfy …

Chinese President Xi Jinping on Monday agreed in principle to a restructuring of Congo’s vast debts, an issue that was blocking negotiations with the International Monetary Fund, a minister said.

Acknowledging this Congolese Prime Minister Anatole Collinet Makosso on moday June 21 said that the financial difficulties his country has faced, delayed servicing of the debt and promised to reduce a debt that has recently increased.

The prime minister says the health crisis brought about by the Covid-19 led to an increase in borrowing that was aimed at cushioning its citizen without the ability to service it and thus it was time to make their debt sustainable going forward.

“Our debt currently stands at nearly $10,892,454,000 as of 31 December 2020, or 98% of GDP. Our objective is to bring it down to below the CEMAC community standard set at 70% of GDP,” Anatole Collinet Makosso said to the National …

The Tanzania Trade Development Authority (TanTrade) said in a statement issued on Wednesday that the country is set to participate in the first China-Africa Economic and Trade Expo to be held in Changsha, the capital of central China’s Hunan province between 18^th and 20^th June, 2019.

The body has also urged the local companies to grab the `golden chance` provided by the trade expo which will focus on trade, investment, finance, agriculture, mining, energy, tourism and infrastructure.

Officials will sign bilateral agreements during the exhibition, engage in investment promotions, and establish a “new mechanism” for future economic cooperation.

The expo is part of a slew of promises made by president Xi Jinping during last September’s Forum on China–Africa Cooperation (FOCAC) in Beijing. During his speech to African leaders, President Xi proposed eight initiatives aimed at pursuing a “win-win” strategy giving new impetus to economic, political, and security collaboration. …