Your Excellency President of the Republic of Rwanda
Business Executives,
Distinguished Guests,
Ladies and gentlemen,
Good morning.
I am very much honored to speak at the Golden Business Forum, a forum which will be enabling the business partners over mountains, across rivers, even across oceans to engage, discover opportunities, strategize, advocate and share experience on how the private sector-led economy can be effective in Africa. On behalf of the Chinese Embassy in Rwanda and the Chinese Government, I would like to extend utmost congratulations on the opening of the forum and pay high tribute to all those who are committed to the friendly relations and productive cooperation between China and the African countries, Rwanda, in particular.
I am additionally delighted this morning because among the participants in this grand event there are more than 50 Chinese private business executives and investors, who desire to chase business opportunities and unfold win-win economic cooperation. I think you have made a right choice and decision to come to Africa, to Rwanda. Admittedly, the African continent has proven to be the most promising continent in the new century, rich in hundreds of millions of vigorous youths, abundant in diverse natural resources, fast-tracking industrialization, catching up with the prime time of internet era and digital economy. Please congratulate yourself on coming to Rwanda, an ideal investment and business destination, a combination of cleanness, tidiness, safety, discipline, harmony, good governance, incorruptible government, hard-working, ambitions and visions, and, most important of all, great leadership.
I am hoping that during your business trip to Africa, to Rwanda, you will establish partnership with the local businesses, and join hands to achieve mutual prosperity.
Ladies and gentlemen,
For a long period of time in the history both China and Africa encountered similar ordeals and traumas of being colonized and semi-colonized, being exploited. And at present we are facing missions and challenges alike to improve our economies, eradicate poverty and better livelihood of our population. In recent years China-African cooperation has been growing with a strong momentum under the framework of FOCAC and One Belt and One Road Initiatives. We have seen strong exchanges in all areas, including the expanding business ties, which has enjoyed stable progress over the past decade. In 2018 China's trade volume with Africa registered 204 billion USD, a sharp increase of 20% compared with in 2017. China also accelerates its investment into Africa, by the end of 2018, there had been more than 3700 Chinese companies, which registered in Africa and started their production and services. Among them, Chinese private sector has become the principal force, taking account of 70% of both the total investment amount and overall number of companies. Not to speak of, at the FOCAC Beijing Summit held in September 2018 the Chinese President proclaimed to provide a package of 60 billion USD financing to Africa to propel China-Africa comprehensive cooperation.
Ladies and Gentlemen,
Now in all corners of the globe, we have observed flashing warning signs about the state of the economy. IMF has, for several times since last year, downgraded its forecast for global economic growth. And as IMF forecasts, some 70% of the global economy will experience a slowdown, and that would make it the most extensive synchronized slowdown since 2011.
Despite the global difficulties and challenges, the Chinese economy is still growing at a relatively high and healthy speed. In the first half of 2019, China's GDP increased by 6.3%. This speed is indeed slower than before, but solidity and quality is the most important parameter for an economy under reform and restructuring. The total value of imports and exports saw accelerated growth for the first half this year at about 2.14 trillion USD, with exports increasing by 6.1% and imports by 1.4%. We are confident that the main targets for this year, including a 6-6.5% GDP growth, can be achieved. And China, as the largest developing economy, will take the attitude of a great nation of responsibility and justice, together with other peace-loving, fairness-seeking and forward-looking countries, to safeguard the international trade system and multilateral economic order, and fight against economic hegemony, bullying, protectionism, and unilateralism.
This year marks the 70th anniversary of the founding of the People's Republic of China. Today's China is the world's second-largest economy, accounting for 16% of the world GDP, ranking No.1 in terms of merchandise trade, manufacturing capacity and foreign exchange reserves. With its own development, China remains committed to win-win cooperation and stands ready to share its development opportunities through further opening up, and make its positive contribution to boost the confidence in the inclusive and balanced economic growth in the world. Last November in Shanghai China hosted the First International Import Expo, the first-ever in the world, in June of this year China held China-Africa Trade and Economic Forum in central China, the first-ever for Africa, China is keen to purchase more African products and services, and accelerate and diversify China-African bilateral trade and two-way investment
Ladies and gentlemen,
In the face of the existing and looming challenges, such as climate change, overpopulation, the 4th industrial revolution, corruption, all the countries need to renew the spirit of partnership as we are all passengers in the same boat. The rules of jungle and the zero-sum game are doomed to fail in modern world and will never prevail among human kind. We are all residents of the global village. When we respect each other and treating each other equally, we become friends and partners. When we unite and help each other, we uproot obstacles and become prosperous. Therefore, what do we need to do? What we need to do is to respect each other's home-grown solutions and self-tailored path of development, maintain equal consultations, shelve and manage differences, seek common ground, and forge synergies. I hope the business leaders present today and those absent ones but supporting us will carry forward the spirit of openness, cooperation, consultation and partnership. In that spirit, I believe we will work together and make more contribution to our economic and trade cooperation as well as the friendship between our peoples.
In conclusion, I wish the Forum a complete success!
Muracoze. Thank you.