Hunan Province, located in central China, has announced an 11-point policy package to deepen China-Africa economic and trade cooperation. Released on February 14 by the province’s commerce and finance departments, this package aims to enhance collaboration in areas such as supply chain integration, logistics, and financial support.
The policy measures focus on facilitating trade, promoting investment, improving financial services, and strengthening economic relations. As of 2024, China’s total trade volume with Africa reached 2.1 trillion yuan (approximately 293 billion USD), marking a 6.1% increase from the previous year. The new package emphasizes five key areas: strengthening China-Africa industrial and supply chain integration, establishing independent logistics systems, ensuring a stable supply of key resources, increasing financial support, and building long-term cooperation mechanisms.
Additionally, concrete steps such as supporting testing laboratories and public warehouses in Africa, encouraging imports from the continent, and creating a China-Africa trade cooperation fund are included.
Hunan Province remains a leader in China’s central and western regions in trade with Africa, surpassing an annual trade volume of 50 billion yuan for three consecutive years since 2022. The fourth China-Africa Economic and Trade Expo, scheduled for June 2025, is expected to further enhance bilateral trade and investment relations.
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