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中非发展基金董事长杨宝华: 以投资为纽带助力中非命运共同体

以投资为纽带助力中非命运共同体

文I杨宝华  中非发展基金董事长



2013年,习近平主席访问坦桑尼亚时明确指出,中国和非洲从来都是命运共同体。如今,构建更加紧密的中非命运共同体,已成为新时代中国对非合作的目标与基石,也成为构建人类命运共同体进程中不可或缺的组成部分。今年9月,备受期待的中非合作论坛北京峰会即将召开,中非双方将围绕“合作共赢,携手构建更加紧密的中非命运共同体”这一主题,共同规划前行路径,为中非合作翻开新的历史篇章。

作为上届中非合作论坛北京峰会的重要成果之一,中非发展基金刚刚度过了第11个生日。从破茧而出到发展壮大,中非发展基金通过投资方式服务中非合作大局,见证了中非合作的蓬勃发展,引领了中国企业“走出去”赴非拓展的步伐,成长为中国对非投资的主力平台。中非合作论坛北京峰会的再次召开,将为中非携手构建命运共同体注入新的动力,中非发展基金也将在这一进程中承担新的历史使命、发挥新的作用。 


投资合作是中非命运共同体的重要内容和有效手段

新世纪以来,在中非合作论坛机制的推动下,中非利益融合持续深化,中非经贸合作规模不断扩大,涌现出了新的契合点和增长点。自2009年起,中国连续九年成为非洲最大贸易伙伴,2017年中非贸易额达1700亿美元。非洲是中国企业第二大海外承包工程市场,2017年中国企业在非洲完成承包工程营业额512亿美元。中国对非投资从无到,2017年对非直接投资存量突破400亿美元,十年间增长了15倍。中非经贸合作正在经历着重要的转型升级:从贸易和承包工程为主导逐渐发展转向全方位的投资与立体化的产能合作。

非洲最大的优势是自然资源和人口资源丰富,最大的愿望是将潜在优势转化为实实在在的发展优势,最大障碍是资金和技术缺乏,市场狭窄和政策不配套。大多数非洲国家的负债能力有限,通过投资具有价值潜力的企业或项目,自身产生效益并带动当地就业、出口、税收及产业升级,能够有效地提升所在国经济“造血”功能和可持续发展能力。中国具有30多年快速发展的经验以及生产要素方面的相对优势,通过对非投资,在不增加非洲当地财政负担的条件下,为非洲工业化增加资金来源,引进技术、设备和管理,开展产业对接和产能合作,无疑将有助于推进非洲大陆的工业化进程,也有利于促进中国供给侧结构性改革,更有益于构建愈加紧密的中非命运共同体。


中非发展基金11年实践

为鼓励和支持更多的中国企业到非洲投资,在2006年中非合作论坛北京峰会上,中国政府宣布设立中非发展基金。可以说,中非发展基金的诞生和发展,即契合了中非携手构建命运共同体的需要,也有力对接和促进了这一进程。中非发展基金2007年6月开业,由国家开发银行承办,初始设计规模50亿美元。2015年12月,习近平主席在中非合作论坛约翰内斯堡峰会上宣布,为实施中非“十大合作计划”,为中非发展基金增资50亿美元,基金总规模达到100亿美元。

作为中国第一支专注于非洲的股权投资基金,中非发展基金按照市场化原则运作,把有意愿到非洲投资的中国企业和非洲的投资项目连接起来,成为中非投资合作的桥梁和纽带,为中非共建“一带一路”发挥了先行先试作用,也是构建中非命运共同体的探索者和践行者。11年来,中非发展基金已在非洲36个国家决策投资92个项目,决策金额超过46亿美元,投资领域遍及农业民生、基础设施、产能合作、资源开发等,可带动中国企业对非投资超过230亿美元,可增加非洲当地出口58亿美元、税收10亿美元,惠及非洲超过870万民众。中非发展基金与中国企业共同投资的很多项目都已成为中非务实合作的典范,充分体现了构建中非命运共同体“合作共赢、休戚与共”的理念。

一是支持非洲改善基础设施,破解发展瓶颈。中非发展基金紧密围绕基础设施互联互通、对非“三网一化”等战略,在非洲港口、航空、电力等基础设施领域投资了一批典型项目,也有力带动了中国装备制造业“走出去”。如加纳安所固电厂,如非洲世界航空公司(AWA)项目,以及联合6家国内大型工程企业发起设立“中国海外基础设施开发投资公司”,专注基础设施项目前期开发,破解非洲基础设施项目融资难、配套难的困境。

二是推动对非产能合作先行先试,增强“造血”机能。中非发展基金围绕非洲工业化需求,带动中国汽车、电器、机械、水泥、玻璃等优势产能赴非投资,形成年产中重卡6.85万辆、空调30万台、冰箱45万台、电视56万台及水泥160万吨,为非洲制造业发展和经济增长提供持续动力,并为中国优势产业对非产能合作积累了宝贵投资经验。

三是以投资方式支持非洲减贫事业。中非发展基金注重参与农业、卫生等薄弱环节发展,通过投资增加就业和改善民生。其中,马拉维、莫桑比克、赞比亚等国棉花种植加工项目,采用“公司+农户”运作模式,带动三国近20万农户就业和增收。埃及苏伊士园区项目,带动本地就业近2000人,吸引对埃投资9.5亿美元。华友刚果金铜矿项目,成为当地纳税大户,投资的配套农业项目被联合国粮农组织列为现代农业示范园。马里制药厂项目,可年产4000万瓶大输液、3000万瓶糖浆剂,成为西非地区现代化程度最高的药厂。


把握机遇,应对挑战

中国的发展与非洲发展紧密关联,中国越来越重视和支持非洲,不仅是源于半个多世纪以来结下的深厚友谊,也源于中非日益紧密、休戚与共的命运共同体关系。当前,全球贸易保护主义、单边主义抬头,世界经济下行压力加剧,中非经济发展均面临更加复杂的外部环境。在此背景下,中非携手同行、优势互补,对于推动双方乃至世界经济应对发展挑战、挖掘增长新动能都具有重要意义。

当然,中非投资合作也面临一些挑战。从中国方面看,对非投资政策支持、金融服务等有待完善,一些中国企业对国际规则不熟悉,对非洲缺乏了解,尤其是对所在国法律制度、文化理念和行为习惯等。从非洲方面看,投资合作的软硬环境都亟待改善,投资项目普遍面临当地政策不连续、汇率风险、市场风险等问题。一方面需要中国企业进一步提升国际化运作能力,增强海外投资风险管控能力;另一方面也希望非洲政府在投资环境、外资政策方面进一步改善,持续支持外来投资,保持政策的延续性。

今年以来,非洲经济已走出低谷,显现了较强的复苏韧性与良好的发展前景。据国际货币基金组织(IMF)最新预测,撒哈拉以南非洲地区2018年GDP增速将从去年的2.8%升至3.4%,45个国家中将有29个实现增长加速,创下2010年以来最好局面。麦肯锡最新报告指出,非洲将成为全球城市化最快的地区,未来30年每年有2400万人进入城市;非洲产业发展也极具潜力,未来10年制造业产出有望从6430亿美元增至9300亿美元。可以看出,非洲发展的动力和活力依然强劲,长期向好的趋势没有改变。

新时代中国向高质量发展阶段的转型将与非洲工业化与自主发展的诉求更加紧密地对接,中非合作将进入历史性机遇。中国与非洲各国领导人在9月的北京再次聚首,共襄盛举,为中非合作共建“一带一路”开辟新愿景,为中非携手推动构建人类命运共同体谋划新篇章。中非发展基金将把握机遇,利用自身积累的投资经验和专业技能,在支持中国企业对非投资、服务国内经济结构调整的同时,帮助非洲国家完善基础设施、推动产业升级,提升自主发展能力,为促进中非共同繁荣、构建中非命运共同体做出新的更大贡献。(编辑:杨海霞)


⬆加纳安所固电厂项目,总装机容量约占加纳全国发电量20%以上,有效缓解了当地电力紧缺局面


英文版:

Investment, a Contribution to a Closer China-Africa Community of Common Destiny

By Yang Baohua, Chairperson of China-Africa Development Fund


  • Investment is a major component and effective means of constructing China-Africa community of common destiny

  • CADFund’s investment in Africa 

  • Seize opportunities, rise to challenges and contribute to a closer China-Africa community of common destiny



During the visit to Tanzania in 2013, President Xi Jinping made a point that China and Africa were always a community of common destiny. Now, building an even closer China-Africa community has become the goal and cornerstone of China-Africa cooperation in the new era, and an indispensable part of constructing a community of common destiny for all mankind. The widely anticipated Beijing Summit of Forum on China-Africa Cooperation (“FOCAC”) will be held this September, when China and Africa will focus on "win-win cooperation for a closer China-Africa community of common destiny" and jointly build the roadmap, so as to open a new chapter for China-Africa cooperation.

As an important achievement of the last Beijing Summit of FOCAC, China Africa Development Fund (“CADFund”) has just marked its 11th birthday. From the birth to growing-up, the fund has served China-Africa cooperation through investment, witnessed the flourishing development of the cooperation, and grown to the main platform for China’s investment in Africa which supported Chinese enterprises to “go global”. The 2018 Beijing Summit of FOCAC is expected to bring new impetus in building China-Africa community of common destiny, and CADFund will get involved by undertaking new historic missions and roles.


Investment is a major component and effective means of constructing China-Africa community of common destiny

Since the beginning of 21st century, the FOCAC mechanism has powered the deepening interest convergence of both sides and the expanding of bilateral economic and trade cooperation; in the meantime, new opportunities for cooperation and growth have sprung up. China has been Africa's largest trade partner for nine consecutive years since 2009, with trade worth US$170 taking place in 2017. In terms of contracting projects, the turnover of Chinese contractors in Africa reached US$51.2 billion in 2017, making Africa the second largest contracting market of China. On the other hand, China’s investment in Africa has grown from scratch. Its direct investment in Africa has increased 15 times in ten years and exceeded US$40 billion in 2017. Now, China-Africa economic cooperation is undergoing critical transformation and upgrading from traditional cooperation dominated by trade and contracting to a new type of cooperation including investment and stereoscopic capacity cooperation.

Africa is endowed with abundant natural and demographic resources, and hopes to turn the resources into advantages that fuel its development. However it has long been hindered by lack of capital and technology, underdeveloped market and unsuitable policies. As most African countries cannot stand rising burden debts, investments in enterprises or projects with growth potential could generate profits; promote local employment, exports, tax revenue and industrial upgrading; and therefore effectively support the self-reliance and sustainable economic development of host countries. China has experience of rapid development throughout 30 years and comparative advantages of production factors. Without rising local financial burden, investment in Africa not only supported Africa’s industrialization with China’s capital, technology, equipment, and management expertise, but also promoted industrial capacity cooperation between China and Africa. Such engagement will undoubtedly accelerate Africa’s industrialization, foster supply side reform of China, and contribute to constructing a closer China-Africa community of common destiny.


CADFund’s investment in Africa 

At the Beijing Summit of FOCAC in 2006, the Chinese government announced the establishment of CADFund, aiming to encourage and support more Chinese companies to invest in Africa. The birth and development of CADFund meet the needs of China and Africa to jointly build a community of common destiny, and strongly facilitate the process. Operated by China Development Bank, CADFund was launched in June 2007 with capital of US$5 billion. To implement the China-Africa “Ten Cooperation Plans”, President Xi Jinping announced an additional US$5 billion to CADFund at the Johannesburg Summit of FOCAC in December 2015, which makes the fund reach a designed total capital of US$10 billion.

As China's first equity investment fund focusing on Africa, CADFund operates in a market-oriented approach, connecting Chinese companies willing to invest in Africa with African projects, and becomes a bridge and link for China-Africa investment cooperation. It acts as a pioneer in China and Africa’s joint construction of “Belt and Road”, and also an explorer of building China-Africa community of common destiny. In 11 years, CADFund has invested US$4.6 billion in 92 projects in 36 African countries, covering areas including agriculture and livelihood, infrastructure, capacity cooperation and resource development. The fund’s investment has leveraged Chinese enterprises’ investment of US$23 billion, increased exports of US$5.8 billion and tax revenues of US$1 billion, and benefited more than 8.7 million people in Africa. A number of projects jointly invested by CADFund and Chinese enterprises have become copybook examples of pragmatic cooperation between China and Africa, giving full expression to the idea of "win-win cooperation and common prosperity" in constructing China-Africa community of common destiny.

1. Support Africa in improving its infrastructure and breaking the bottleneck of development

Focusing on infrastructure interconnection in Africa and China’s commitment to assist Africa in developing "three networks and industrialization", CADFund has invested in a dozen of representative projects in infrastructure such as port, airlines, power plant, etc. and encouraged China's equipment and manufacturing industry to “go global”. Among the projects, the Ghana-based African World Airlines (AWA) is the first African passenger airline invested by Chinese enterprises. With three domestic air routes in Ghana and four international routes, the project effectively promoted the interconnection of West Africa. The Ghana power plant is another example. With installed capacity accounting for more than 20% of the whole country’s power generation, the power plant effectively alleviated the power shortage in Ghana. Moreover, the fund, jointly with six Chinese construction companies, established China Overseas Infrastructure Development and Investment Company, focusing on the early stage development of infrastructure projects in Africa, so as to make the projects more feasible and bankable.

2. Take proactive measures to promote the China-Africa production capacity cooperation and help Africa enhance self-reliant development

Focusing on the needs of industrialization in Africa, CADFund drives Chinese competitive production capacities, such as automobile, electric appliances, machinery, cement and glass, to invest in Africa. The projects with annual capacity of 68,500 heavy trucks, 300,000 air-conditioners, 450,000 refrigerators, 560,000 televisions and 1.6 million tons of cement consistently fuel manufacturing development and economic growth in Africa, which is valuable experience for China-Africa production capacity cooperation. Take South Africa Home Appliances Industrial Park for example, with a staff localization of 90%, the project boosts the development of local supporting industries and improves the management of upstream and downstream industries, logistics and after-sales service through "made in Africa ".

3. Support poverty reduction in Africa by investment

With a strong emphasis on the improvement of weak areas such as agriculture and healthcare, CADFund has made great efforts to increase employment and improve people’s livelihood through investment.

Our cotton plantation and processing projects in Malawi, Mozambique, and Zambia operate in a “company + farm household” approach and benefit 200,000 farm households in the three countries. Another example is the Suez Economic and Trade Cooperation Zone in Egypt, which provided nearly 2000 jobs for local people and attracted investment of US$950 million. Moreover, Mozambique Agricultural Park, operating along the entire value chain ranging from scientific planning to large-scale cultivation, food processing and warehousing, is expected to yield 7500kg of rice per hectare in 2018. The project benefits 450 farm households and makes great contribution to local food supply. Furthermore, the Gold and Copper Mining Project in D. R. Congo not only contributes to the local community with substantial tax revenue, but has invested supporting agricultural project, which was named as modern agricultural demonstration park by the Food and Agriculture Organization of United Nations. In Mali, our pharmaceutical factory with annual capacity of 40 million bottles of infusion and 30 million bottles of syrup has become the most modernized pharmaceutical facility in western Africa. 

 

Seize opportunities, rise to challenges and contribute to a closer China-Africa community of common destiny

The development of China has been closely tied with that of Africa, and China has been putting more and more attention and support to Africa, not only because of the deep friendship established over the past half century, but also from the increasingly closer China-Africa community of common destiny. At present, as the global trade protectionism and unilateralism are rising and downward pressure is placed on world economy, both China and Africa are facing complicating external environment. Therefore, the cooperation of China and Africa is of great significance for both sides and even the whole world to meet the challenges and seek new growth momentums.

There are also challenges in investment cooperation between China and Africa. For China, policy support and financial services need to be improved, as some Chinese companies are unfamiliar with international rules and lack of understanding of legal systems, cultural concepts and conventions in African countries. For Africa, improvement of soft and hard environment for investment cooperation is pressing, since investment projects generally face problems such as inconsistent local policies, exchange rate fluctuation and market risks. On the one hand, Chinese companies need to further lift their capacities in internationalization and overseas investment risk control. On the other hand, we hope that African governments will further improve their investment environment and policies, continue to support foreign investment, and maintain policy consistency.

This year, the African economy has bounced off bottom, showing strong resilience and favorable prospects. According to the latest forecast by the International Monetary Fund (IMF), the GDP growth of sub Saharan Africa will rise from 2.8% in 2017 to 3.4% in 2018, and 29 out of 45 African countries will witness economic growth, which is Africa’s best performance since 2010. As per the latest McKinsey report, Africa will be the fastest urbanizing region in the world with yearly 24 million people moving to cities in the following 30 years; industrial development in Africa also shows great potential as manufacturing output is expected to increase from $643 billion to $930 billion over the next 10 year. We can see that African economy remains vigorous and promising.

China’s transformation towards high-quality development in the new era will be more closely connected with the demands of industrialization and independent development in Africa, and China-Africa cooperation will enter into a new period of opportunities. The upcoming Beijing Summit of FOCAC will gather the leaders of China and African countries together again in Beijing this September, expected to create a new vision of "belt and road" and a new chapter for China and Africa to work together in building a community of common destiny for all mankind. CADFund will seize these opportunities and make full use of its accumulated investment experience and professional skills, to support Chinese enterprises to invest in Africa and serve China’s reforms on economic structure, as well as to support African countries to improve their infrastructure, promote industrial upgrading and enhance their capacity of independent development. CADFund will also make new greater contributions to the common prosperity of China and Africa and the construction of China-Africa community of common destiny. 

⬆莫桑比克农业园项目,通过科学规划、规模种植、加工仓储的全产业链经营模式,2018年预计亩产近千斤,受益农户达450户,为提高当地粮食生产供应做出了积极贡献。