News

October 26, 2022

Chinese modernisation means opportunities—China’s Consul General in Lagos

China will work to ease Africa’s debt burden — Chinese Foreign Minister

LAGOS—The 20th National Congress of the Communist Party of China, CPC, has summarized its achievements over the first 10 years and at the same time, unveiled a blueprint for advancing the rejuvenation of the Chinese nation on all fronts. The congress took place  in Beijing.

Concerning the congress, Chu Maoming, China’s Consul General in Lagos quoted President Xi Jinping  as saying: “This has been a congress of holding our banner high, pooling our strength, and promoting solidarity and dedication”. President Xi Jinping  was   the re-elected General Secretary of the CPC’s central committee. “President Xi also expressed China’s commitment to promoting the building of a human community with a shared future. We will work with people  of  all other countries to champion humanity’s shared values of peace, development, fairness, justice, democracy, and freedom to safeguard global peace and promote global development, and keep promoting the building of a human community with a shared future”.

He noted that a prosperous China will create many more opportunities for the world.

domestic product has come to account for 18.5 percent of the world economy. It has become a major trading partner for over 140 countries and regions, leading the world in total volume of trade in goods. Since the COVID-19 pandemic broke out, China, which has managed to coordinate pandemic control and economic development, still maintains a stabilizer of the global supply and industrial chains, and is keeping driving the world economic recovery.”

Maoming further stated that Chinese modernization contains elements common to the modernization processes of all countries, but more importantly, it features the Chinese context. 

“It is the modernization of a huge population, of common prosperity for all, of material and cultural-ethical advancement, of harmony between humanity and nature and of peaceful development.

“China will accelerate creating a new development pattern and pursue high-quality development, according to the blueprint produced by the Congress. Obviously, China’s future development direction focus more on high-quality and sustainable development.

This is good news for Nigeria and other countries throughout the world. For example, in the past few years, many Chinese companies have been involved in developing Nigeria’s digital economy in various of fields, which is exactly what Nigeria needs. China’s Huawei and ZTE have been building 5G network infrastructure in Nigeria for many years. OPay, one of Chinese fastest growing fin-tech companies in Nigeria, is providing consumers with a wide range of services including mobile payments and transfers.

In 2019, OPay raised 120 million USD of series B funding, including several Chinese investors like Meituan-Dianping, DragonBall, GaoRong, Source Code, Redpoint China and so on. Currently, OPay has over 18 million registered app users in Nigeria who rely on its services to send and receive money, pay bills and many more. Egatee, a Chinese e-commerce start-up, is determined to consolidate main actors in the retail market in Nigeria, and to provide cross-border logistics, online payment and settlement and other whole process services. They are just a few examples of cooperation between Chinese companies and Nigerian companies. Definitely, with the participation of Chinese companies, it will help Nigeria’s economy to transform and upgrade, and enhance its competitiveness.”