Xi Jinping plays up roles for private sector in China-Africa trade and finance

Chinese President Xi Jinping appears to be banking on the private sector to drive the next phase of China-Africa cooperation as China’s policy banks take a cautious approach to lending.

Speaking via a video link from Beijing during the Forum on China-Africa Cooperation (FOCAC) on Monday, Xi outlined nine initiatives China planned to implement in the next three years, most of them relating to providing coronavirus vaccines, growing trade and encouraging private Chinese companies to invest in Africa.