China to Promote Green Tech Exports to Africa at Beijing Summit Amid Western Curbs

Sep 2, 2024, 04:59 AM

China is set to promote its green technology exports to African leaders at a summit in Beijing, as Western restrictions on these exports loom. The Chinese government aims to encourage over 50 African nations to increase imports of its goods, including electric vehicles and solar panels, by offering more loans and investments. This initiative is part of China's broader strategy to enhance its global influence through decarbonization efforts, which have already led to brisk sales of electric vehicles, solar panels, and wind turbines. China's trade with Africa reached a record high of 1.19 trillion yuan ($163.5 billion) in the first seven months of this year, marking a 5.5% increase year-on-year. Over 50% of China's exports to Africa are mechanical and electrical products, which have seen a 4.9% growth.