On September 3rd and 4th, 2018 Beijing summit of the Forum on China-Africa Cooperation (FOCAC) was held in Beijing, attracting great attention of media. As the Executive President of Institute for African Studies, GDUFS, Prof. Liu Jisen accepted interviews from GRT Satellite Channel, Guangdong Yangcheng Evening News, China Daily, etc., and expressed his opinions towards the new ideas proposed at the summit, the current situation of China-Africa cooperation, and Guangdong enterprises' entry into African market.
In the report, Characteristic of Tolerance of Cantonese Culture Promote China-Africa Cooperation, Prof. Liu mentioned that Guangdong was faced with great opportunities, and how to seize opportunities was of great importance. Therefore, think tanks for African studies shall do well in research on African regions and national differences so as to promote more Chines enterprises' entry into African market, and to build a closer common community of a common destiny. As for agricultural cooperation, Prof. Liu thought there would be a new wave of Chinese enterprises' investment in Africa. As for economic and trade cooperation, he reckoned that Chinese state-owned enterprises shall support African countries in improving their infrastructure and developing their economies, while private enterprises shall play their roles in specific field. Guangdong enterprises now are challenged by cultural differences. Prof. Liu suggested that enterprises should carry out a thorough research, especially a filed trip before investment, cooperate with institutes for African studies and business consulting organizations, and give play to the advantages of the industrial chain.
Nowadays, more and more African businessmen choose to do business in Guangdong, and there are more and more Guangdong enterprises taking the opportunity of the "Belt and Road Initiative" and developing in Africa. For the topic of Guangdong enterprises' entry into African market, Prof. Liu stated, "Africa has a vast territory, rich resources, potential market but backward industrialization. Guangdong province performs well in reform and opening up with outstanding manufacturing capacity. The cooperation between Guangdong and Africa is very complementary." He added, "In response to the 'eight major actions' put forward at the summit, Guangdong can make good use of its strong capacity in manufacturing and abundant resources in capital, technology and personnel so as to promote Africa' industrialization and agricultural modernization and improve Guangdong-Africa cooperation."
With the improvement of infrastructure in Africa, it is more convenient for Guangdong enterprises to enter the African market. In an interview with GRT Satellite Channel, Prof. Liu said, "China helps Africa build the railway network across the entire African continent, which will promote the flow of factors of production."
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The development of China-Nigeria relation is promoting China-Nigeria cooperation to reach a new level. In April, 2018, China and Nigeria signed China-Nigeria Currency Swap Agreement. Prof. Liu thought, "Exchange rate instability was Chinese enterprises' biggest concern in trading with Africa. Therefore, it's of great significance to realize currency swap between China and Nigeria. Trading directly with RMB will avoid the exchange rate risk and benefit Chinese and Nigerian businessmen."
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