Gao Yan, president of the China Council for the Promotion of International Trade (CCPIT), said at the 7th China-Africa Entrepreneurs Conference on Monday that the business communities of China and Africa have worked hard to overcome the dual impact of COVID-19 and the global economic downturn, pushing china-africa economic and trade cooperation against the trend, with trade volume reaching a record high for the same period in history and investment cooperation achieving rapid development.

The China-Africa Business Conference is an important supporting economic and trade event under the framework of focAC and a dialogue and exchange mechanism at the highest level between the Chinese and African business communities. The conference was held online and offline in Beijing. Political and business representatives from China and Africa had in-depth discussions on deepening trade and investment cooperation, promoting industrialization and digital development, accelerating post-COVID-19 economic recovery and promoting sustainable development.

Since the inception of focAC 20 years ago, China-Africa trade and China's stock of direct investment in Africa have increased 20-fold and 100-fold respectively, bucking the trend despite the impact of COVID-19. Vice Minister of Commerce Ren Hongbin said in a video address that China-Africa trade continues to expand and will reach 187 billion US dollars in 2020, with cross-border e-commerce and other new forms and models of foreign trade booming. Chinese enterprises' direct investment in Africa continues to grow, and a number of major infrastructure projects such as railways and electricity and livelihood projects jointly implemented by Chinese and African enterprises have been completed and put into operation.

Gao yan said that The Chinese business community has actively supported and organized the resumption of work and production of enterprises invested in Africa to help Africa ensure the stability of industrial and supply chains and promote African economic recovery. On the other hand, China will be deeply involved in the development and changes of the African market, participate in Africa's industrialization process, actively invest in infrastructure, digital economy and other fields, help African countries enhance their capacity for independent development and industrial development, and inject new impetus into Africa's sustainable development.

In 2018, the Beijing Summit of the Forum on China-Africa Cooperation was successfully held, ushering china-africa economic, trade and investment cooperation into a new stage of development. Ren said that in the past three years, 46 African countries and the African Union Commission have signed cooperation agreements with China on jointly building the Belt and Road, and cooperation mechanisms such as the Silk Road E-commerce are also actively advancing. China attaches importance to and gives full play to the top-level design and strategic guidance of focAC. We have worked for the high-quality implementation of the eight Major initiatives adopted at the Beijing Summit, and the US $60 billion matching fund has been put in place, delivering benefits to the Chinese and African people.

Ren hongbin said That China will continue to provide vaccines and anti-epidemic supplies to African countries in need, and guide companies to carry out vaccine production cooperation in African countries. We will strengthen communication and coordination with African countries and promote various investment facilitation arrangements. We should synergize our strategies with African countries and make our economic and trade cooperation policies more targeted and timely. We will actively participate in the development of green and circular economy in Africa and make green the underlining of China-africa Belt and Road Cooperation. We will support Chinese and African enterprises in upgrading cooperation in maritime transport, aviation, railways and highways through trade and investment, and strengthen cooperation in informatization of logistics infrastructure.