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Agricultural cooperation with China to provide food security for Africa: Angolan minister

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Agricultural cooperation with China to provide food security for Africa: Angolan minister

2024-09-08 21:27 Last Updated At:22:07

Closer cooperation between China and Africa on agriculture will boost yields and provide food security for Angola and broader Africa, according to António Francisco de Assis, Angola's Minister of Agriculture and Forestry.

In a keynote speech delivered to the opening ceremony of the 2024 Summit of the Forum on China-Africa Cooperation (FOCAC) on Thursday, Chinese President Xi Jinping unveiled 10 partnership action plans aimed at boosting bilateral and multilateral cooperation between China and African countries in various sectors, including agriculture, trade and infrastructure.

"These initiatives call for closer cooperation between China and Africa. It allows African countries and China to define new goals and criteria for their development. As the minister of agriculture and forestry, I want to say that President Xi's speech was quite assuring. One of the points he mentioned - which is very important - is related to technology transfer and capacity building. The establishment of trial centers or pilot zones will enhance our agricultural technology, increasing our yields and providing food security for Angola and the continent," he said.

António Francisco de Assis noted that Angola looks forward to deepening agricultural cooperation with China.

"This is a very important area for China and Angola to cooperate together. We already have some Chinese companies in partnership with us, planting rice in Angola. We need many more because Angola consumes a lot of rice. We want to reduce import of these crops and produce them locally, so we can consume them locally and export the surplus to supply developing countries. We need to develop the supply chain. It's very important. We also need fertilizers, seeds, pesticide. We need commercial processing of the products to give added value to the products when we get them from the field," he said.

The minister also rejected the claim that the Belt and Road Initiative is a debt trap, noting that countries critical of the initiative should see for themselves the tangible benefits the initiative has brought to African people.

"I would say that's not a debt trap. We are very happy with the support China has given to us, including infrastructure such as railway, electricity, water channels, and dams. Chinese companies are very well incorporated in our local community. For every Chinese company that has been set up in Angola, they always employ local people. People work there, got their own salaries and build their houses. They can pay for tuition fees for their children. Many of these countries that point fingers do not help. Those who criticize the Belt and Road Initiative should go and see for themselves the real results on the ground," he said.

Inaugurated at its first Ministerial Conference in Beijing in October 2000, FOCAC now has 55 members comprising China, the 53 African countries that have diplomatic relations with China, and the African Union Commission.

The FOCAC summit, which took place from Wednesday to Friday, was the largest diplomatic event hosted by China in recent years, with the highest attendance of foreign leaders.

Agricultural cooperation with China to provide food security for Africa: Angolan minister

Agricultural cooperation with China to provide food security for Africa: Angolan minister

Agricultural cooperation with China to provide food security for Africa: Angolan minister

Agricultural cooperation with China to provide food security for Africa: Angolan minister

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Beijing consumer gold market remains hot despite rising prices

2024-09-17 04:15 Last Updated At:07:27

Beijing's consumer gold market has been running hot during the Mid-Autumn Festival holiday, despite recent rises in the gold price on international markets.

Last week, the main contract for gold futures on the New York Mercantile Exchange (COMEX) has risen to over 2,600 U.S. dollars per ounce.

At a gold shop in Beijing's Xicheng District, the price of pure gold jewelry went up to about 737 yuan (about 104 U.S. dollars) per gram, but many shoppers are still looking to buy gold jewelry especially during the Mid-Autumn Festival holiday and the end-of-summer wedding season.

"It is now more than 700 yuan (about 98.7 U.S. dollars) per gram, but when we were here about two months ago, it was only just above 600 yuan (about 84.6 U.S. dollars) per gram," said a customer.

"I'm getting married, so I came to have a look. Even if the price goes up, we still have to buy it," said another customer.

"I had nothing to do during the holidays, so I came here to take a look [at the gold jewelry]. I just bought a lucky charm bead and now I want to take a look at the bracelet," said another customer.

At the shop's gold investment counter, many consumers have been making inquiries about gold bars, which has long been considered a safe investment, although experts recommend caution in the rising gold market.

At the shop's gold investment counter, many consumers have been inquiring about gold bars, which have long been considered a safe investment. However, experts recommend caution in the rising gold market.

"Many investors will buy gold bars for medium- to long-term investment based on their expected price as part of their overall family asset allocation. We suggest that investors be more rational in their decisions," said Li Yang, a senior gold investment analyst.

Beijing consumer gold market remains hot despite rising prices

Beijing consumer gold market remains hot despite rising prices

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