China’s economy made positive and steady progress in the first half of the year (H1), bringing tangible benefits to Africa, a Zimbabwean policy expert said here Tuesday.
According to China’s National Bureau of Statistics, the country’s gross domestic product (GDP) grew 5.3 percent year on year in H1.
China has managed to exceed expectations despite multiple challenges, demonstrating the resilience and robustness of its economic framework, Munetsi Madakufamba, executive director of the Southern African Research and Documentation Center, a Zimbabwe-based think tank, told Xinhua in an interview.
“The steady growth of China’s economy presents substantial opportunities for Africa, especially regarding trade dynamics. As the largest international market for Africa, China’s growth provides a vital destination for African exports,” he said.
The current positive performance of the Chinese economy has several positive implications for African countries, including Zimbabwe, the executive director said, noting that the increased investment, infrastructure development, technology transfer and human capital development can help Africa unlock its vast economic potential and contribute to its development aspirations.
The expert hailed China’s zero-tariff measures covering all taxable products for 53 African countries, saying it represents a significant development that has the potential to enhance China-Africa trade relations.
“For Zimbabwe, this signifies enhanced access to the Chinese market, which could result in a rise in exports and revenue earnings. This move also has the potential to enable Zimbabwe to diversify its economy and mitigate reliance on traditional markets,” Madakufamba said.
The enhancement of Zimbabwe’s economy through China’s investment across multiple sectors is poised to bolster the nation’s economic competitiveness and attract further investment opportunities, he added
Xinhua
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