Africa’s debt burden: China urges development-driven solutions

Du Xiaohui, Director-General, Department of African Affairs, Chinese Foreign Ministry

Sustainable development is key to overcoming Africa’s debt burden, Du Xiaohui, Director-General, Department of African Affairs, Chinese Foreign Ministry, said on Wednesday.

He spoke during a meeting with foreign journalists in Beijing. Du said that development required financing which would, in turn, generate debt.

According to him, debt is not terrible but a part of development.

The discussion followed the Ministerial Meeting of Coordinators on the Follow-up Actions of the Forum on China-Africa Cooperation (FOCAC) held recently in Changsha.

At the meeting, China had reaffirmed its commitment to African development through expanded tariff-free access and investment support.

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Du attributed the current high debt burdens and financing costs in Africa not only to domestic challenges but also to global monetary dynamics.

“Selfish monetary policies of a superpower have worsened financing difficulties for developing countries.

“China, as the world’s largest developing country, views Africa’s debt crisis fundamentally as a development challenge rather than solely a fiscal one.

“China has grown through reform and opening-up, and understands the importance of development-led solutions,” he said.

Du highlighted China’s efforts within the G20 Debt Service Suspension Initiative, saying that China had been the largest contributor to the programme and had gone beyond its proportionate share in suspending or restructuring debt owed by several African countries.

The News Agency of Nigeria (NAN) reports that a major outcome of the Changsha ministerial meeting is the expansion of a zero-tariff treatment to all 53 African countries with diplomatic ties to China, excluding Eswatini.

At the event, Foreign Minister Wang Yi had announced that China would sign agreements on economic partnership for shared development with African nations and deliver on the zero-tariff treatment across 100 per cent of tariff lines.

This step is intended to boost exports from Africa to China, helping to reduce trade deficits and stimulate industrialisation on the continent.

Du said that addressing trade imbalances would go beyond adjusting tariff rates.

According to him, trade follows market forces.

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He said that deficits could not be entirely solved by imposing or removing tariffs.

Du said that China operated an import tariff-free policy, encouraging global products into the Chinese market.

He added that the benefits extended beyond trade into investment.

“Many Chinese companies are investing in Africa with capital and technology.

“The zero-tariff policy makes it easier for them to bring goods back into the Chinese market, increasing both trade and value-added investment.

“China continues to implement zero-tariff policies and reduce debt obligations even under external pressure.

“This is because we believe in standing with our African brothers and the Global South to overcome development challenges together,” he said.