FOCAC is creating the platform for more opportunities that lead Africa to industrialization and modernization with increasing Chinese investment.
Under the action plans, announced by Chinese President Xi Jinping at the FOCAC Johannesburg Summit December last year, with a US$60 billion fund support, about 243 cooperation agreements have been signed between Chinese government, institutions and African countries.
Chinese State Councilor Yang Jiechi made the disclosure at the the Coordinators' Meeting on the Implementation of the Follow-up Actions of the FOCAC Johannesburg held July 29, 2016, in Beijing, China.
Yang said the agreements worth US$50.725 billion, including US$46 billion of Chinese direct investment in and commercial loans to Africa, accounting for 91% of the total value of the agreements.
While efforts are being made to implement the Johannesburg Summit outcomes, Yang said the Beijing event was aimed at taking stock of the delivery of the outcomes, to align their thinking, build consensus, overcome challenges and difficulties, share experience and promotion cooperation, among other.
The Chinese State Councilor stated that both sides are committed to win-win cooperation and common development.
However, he stressed the need for collective efforts in the implementation if the Chinese and African people must show to the world their strong determination to promote solidarity through cooperation.
“We Chinese often say that planning contributes 10 percent to the success of an undertaking while 90 percent of the success lies in implementation. In this first year after the Johannesburg Summit, it is our shared expectation to see the early implementation of its outcomes so as to deliver more benefits to the Chinese and African people,” Yang said.
Yang was quick to point out that more than 30 African countries have established internal coordination mechanisms and designated ministerial-level coordinators to implement the outcomes, adding, “Presidents and prime ministers of several countries have even taken on the responsibility themselves.”
He also highlighted five pillars of FOCAC to strengthen in working with Africa, including sharing weal and woe; remaining good partners for common development; increasing inter-civilization exchanges; promoting peace and stability; and broadening cooperation in international affairs.