China, Africa trade in intermediate goods grows 6.4 percent in Jan-July

By: XINHUA 1 min read
China, Africa trade in intermediate goods grows 6.4 percent in Jan-July
Photo shows a view of Nansha Port in Guangzhou, South China's Guangdong province. [Photo provided to chinadaily.com.cn]

BEIJING, Aug. 14 (Xinhua) — China’s trade with Africa in intermediate goods posted 6.4 percent year-on-year growth in the first seven months of 2024, official data showed Tuesday.

Trade in intermediate goods between China and Africa accounts for 68 percent of the total value of bilateral trade, helping Africa in its process of industrialization and economic diversification, said Lyu Daliang, an official with the General Administration of Customs. 

During the January-July period, bilateral trade totaled 1.19 trillion yuan (about 166.48 billion U.S. dollars), with China’s exports to Africa hitting 697.93 billion yuan, while imports reached 490.89 billion yuan, customs data revealed. 

The 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) will be held in Beijing from Sept. 4 to 6, and a further deepening of economic and trade cooperation between the two sides is expected, Lyu said. 

The theme of the 2024 FOCAC is “Joining Hands to Advance Modernization and Build a High-Level China-Africa Community with a Shared Future,” according to an announcement made by the Chinese foreign ministry on July 30. 

XINHUA

XINHUA

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