China-Africa Summit Kicks Off, Xi Jinping Pledged $60 Billion in Funding | Firstpost Africa

China-Africa Summit Kicks Off, Xi Jinping Pledged $60 Billion in Funding | Firstpost Africa

The China-Africa Summit has officially kicked off in Beijing with Chinese President Xi Jinping hosting a grand banquet and a welcome dinner for leaders of 50 African nations. Xi Jinping will open the 9th Forum on China-Africa Cooperation on Thursday where he will deliver a keynote address. Ahead of the summit, China pledged $60 billion in funding for Africa over the next three years. Xi Jinping added there were no political strings attached to the funding. Why has China renewed its race for Africa? What is China offering? What is Africa seeking from this summit in Beijing? The summit is expected to be watched closely by Beijing's competitors in Africa, the US, Europe, and Russia, as they fight for influence in the resource-rich continent. Watch this video for details.

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