Guangdong Image Pavilion at the 3rd China-Africa Economic and Trade Expo. (Source: the Department of Commerce in Guangdong)
The 3rd China-Africa Economic and Trade Expo was unveiled in Changsha, the Capital of Hunan Province in Central China. Dozens of Guangdong companies, organized by the Department of Commerce, participated in the expo, looking for more business opportunities in African countries.
As the largest province in terms of economy and foreign trade in China, Guangdong plays an essential role in China-Africa economic and trade cooperation. "Made in Guangdong" products, including motorcycles from Jiangmen, lamps from Zhongshan, mobile phones from Shenzhen and furniture from Foshan, have become popular in the African market.
"Almost every African has a relative in Guangzhou. Guangzhou is the most famous Chinese city in Africa." Yang Tao, the founder and chief executive of Kilimall, the Chinese start-up now one of Africa's leading e-commerce players, indicated the importance of Guangzhou in the China-Africa trade.
"Guangdong's supply chain advantages are unparalleled. More than one-third of the suppliers on our platform are from Guangdong," added Yang.
Guangdong companies seek more business at the 3rd China-Africa Economic and Trade Expo. (Source: the Department of Commerce in Guangdong)
In 2022 and the first five months of this year, the import and export volume of goods between Guangdong and Africa reached 265.26 billion RMB and 123.77 billion RMB, respectively, accounting for 14.1% and 15.1% of the country's total, according to Guangdong Sub-administration of GACC. In the first five months of this year, the import and export of goods between Guangdong and Africa increased by 24.8% year-on-year.
Africa is also a primary destination for Guangdong's overseas investment. According to the Department of Commerce in Guangdong, as of May this year, Guangdong has established 380 non-financial enterprises (institutions) in Africa, with an actual investment of 779 million USD.
Four of the first seven identified Guangdong provincial-level overseas economic and trade cooperation zones are located in Africa, including the Ogun-Guangdong Free Trade Zone in Nigeria and the Huajian Light Industry City in Ethiopia.
