adminLovemore Hungwe Correspondent
China reported that the country’s GDP grew by 3.2 percent in the second quarter of this year, compared to a year ago, rebounding from the first quarter’s contraction. China has become the first major economy to resume positive growth.
Amid the huge economic fallout of the Covid-19 pandemic, China’s economy has withstood the test and demonstrated strong resilience and growth potential.
China has brought the epidemic under control with timely and effective measures and then went all out with resumption of economic activities to restore life and work back to normalcy.
Economists said that trade numbers in June showed that China’s dollar-denominated exports and imports rose. Manufacturing activity in June also expanded compared to May. During the first half of the year, many foreign companies further expanded their investment in China, with 320 major projects drawing more than US$100 million input each.
The fast recovery of Chinese economy is attributed to the fact that its government and people are committed to opening-up and building an open platform with a better business environment.
Chinese President Xi Jinping delivered a very important speech recently on China’s economic development and opening up. He reiterated that facing the impact of Covid-19 and the global economic downturn, China will not shut its door but will instead open it wider to the outside world. Leading international institutions are optimistic about China’s economic prospects, seeing China’s success as a source of confidence and positive energy for fighting Covid19 and promoting economic recovery.
Following China’s footsteps, African countries, including Zimbabwe, can also beat coronavirus. China and Africa enjoy a comprehensive strategic partnership and it always stands ready to provide its assistance within its capacity. Since the extraordinary China-Africa Summit on Solidarity Against Covid-19 was held two months ago, the two sides have coordinated closely to implement the consensus of the leaders and the outcomes of the summit, with new progress achieved in China-Africa cooperation in various fields.
Chinese and African leaders have maintained close exchange and the interaction between political parties, legislature and localities on the two sides have gradually been resumed. China continues to provide urgently needed medical supplies to African countries, including Zimbabwe. The incomplete statistics show that since March, around 1.4 million PPEs, 51 thousand testing kits, and 65 ventilators or oxygenators and 200 thermometers and other medical supplies, have been donated by China to Zimbabweans from all walks of life. Count is ongoing and more is set to come.
China has sent medical expert teams to 13 countries in Africa including Zimbabwe. A list of paired-up Chinese and African hospitals is being compiled. A Zimbabwean hospital will join this cooperation and bring the much needed help to the Zimbabwean patients. China has implemented the G20 debt service suspension initiative and signed agreement or reached consensus on debt payment suspension with over 10 African countries.
The implementation agreement on the construction of the headquarters of the African Centre for Disease Control and Prevention has been signed with preparatory work underway.
Africa will benefit not only from China’s assistance, but also from its investment and cooperation. China’s non-financial direct investments in countries along the Belt and Road (B&R) stood at US$10.27 billion in the first seven months, up by 28.9 percent year on year, data showed. The us$60 billion finances including grants, loans and investments will continue to be channelled to the projects in African countries under the framework of China-Africa Cooperation Forum.
Many Chinese companies have flown their employees back to Africa by commercial flights or charter flights to resume work and production and Chinese investments in Africa are growing. These days some Chinese investors have arrived in Zimbabwe to start their project in Agriculture and manufacturing sector.
More technicians and experts will come. The construction of Harare International Airport expansion project and Hwange Thermal Power Station rehabilitation Project will be accelerated and completed with the set time frame. The bilateral cooperation is booming with fruitful results in sight. China’s recovery and comeback is a great opportunity for Zimbabwe and African countries. Going forward, China stands ready to work with Africa to advance epidemic control and resumption of work and production in a coordinated manner and fully implement the outcomes of the extraordinary summit, in particular strengthening exchange and cooperation on vaccine development and deployment, trade and investment facilitation, localisation of industries, and e-commerce so as to address the concerns and meet the needs of the African side.
China will join hands to see to it that the China-Africa cooperation prevails over the epidemics and continues to recover and move ahead.
The opportunity is there. We have to work hard to grasp it.
Online Reporter