The first China-Africa trade comprehensive index in China was released at the opening ceremony of the 2022 China (Zhejiang) Forum on China-Africa Economic and Trade Relations and China-Africa Cultural Cooperation and Exchange Week in Jinhua, Zhejiang province on Nov 21.
The China-Africa Trade Jinhua Index was developed by a team from the China-Africa International Business School of Zhejiang Normal University after two years of research. Since its establishment in 2010, the school has been committed to cultivating scholars in Sino-African economy and trade.
Trade is an important part of China-Africa cooperation. China has been Africa's largest trading partner for the past 13 years. In 2021, trade between the two countries was valued at $250 billion.
Zhejiang in East China has been playing an important role in China-Africa trade. In recent years, the province has promoted its cooperation with Africa by forming a unique Zhejiang-Africa economic and trade cooperation model. A number of enterprises based in the province are doing business with African countries.
In 2021, Zhejiang's exports to Africa increased by 12.2 percent to 225.56 billion yuan ($31.55 billion). Among them, Jinhua's exports to Africa topped the province with a value of 84.57 billion yuan, accounting for 37.5 percent of the province's exports to Africa and nearly 10 percent of the country's exports to Africa over the past seven years.
The China-Africa Production Capacity Cooperation Development Report (2021-22), made by the school, also discussed new developments and problems related to the digital economy and clean energy in Africa, aiming to explore new solutions to China-Africa production capacity cooperation.