Be consistent with investment policies, China tells African governments

China has called on governments in Africa to be consistent in their investment policies. 

China is Africa’s largest trade partner, a position it has maintained since 2010.

In 2017, trade volume between China and Africa reached $170 billion, a 200-fold increase from the volume in 1978. In the first seven months of 2018, it reached $116 billion.

Over 10,000 Chinese enterprises are currently operating in Africa in various fields but constant change of investment policy is “quite troublesome” for them, said Vice Chairman, All-China Federation of Industry and Commerce, Nan Cunhui.

Cunhui stated this on Wednesday in Beijing while responding to a question on the role of Chinese companies in African development at a press briefing on the sidelines of the ongoing National People’s Congress (NPC), China’s national legislature.

“The governments’ policy should be consistent. When some leaders assume office, they change the policy. That’s quite troublesome for us,” Cunhui, who is also a member of China’s top advisory body, said.

He also appealed to the governments in Africa to improve business environment for foreign investments, especially improving market access and friendly policy.

Cunhui, however, said Chinese firms had contributed to the development of African countries in the fields of job creation and bridging gaps in infrastructure.

“A lot of Chinese companies are making greater efforts in multiple aspects. Not only they help to improve infrastructure, they also create jobs, increase income, improve living conditions and enhance exchanges,” he said.

Cunhui said Chinese firms’ technologies are “for global competitiveness” and “meet international standard”.

He said Chinese enterprises maintain the same global standards in their overseas operations in Africa.