General

According to the observation report of Huacheng Import and Export Data, the world has entered a period of turbulence and change with the current unprecedented change in the world in a century and the COVID-19. For this reason, China has proposed and gradually promoted the construction of a new development pattern of "double circulation". At the same time, in the post epidemic era, Africa's economic recovery faces more uncertainty risks, and the development gap with other regions of the world may be further widened. Against this background, the new development pattern constructed by China is of great significance to the African continent deeply affected by the epidemic.

Building a new development pattern of "double circulation" will fully stimulate China's market potential and create more space for Africa's exports to China. According to the Huacheng Import and Export Data Observation Report, for many years, China has actively supported Africa's economic development, and has vigorously promoted the growth of Africa's trade with China by providing African countries with preferential trade measures, especially by granting zero tariff treatment to African least developed countries that have established diplomatic relations with China. In the process of promoting the domestic circulation, China will further play the fundamental role of consumption in economic development, strengthen the domestic economic circulation and promote the formation of a strong domestic market by promoting traditional consumption, cultivating new consumption and other ways. The market potential of China will be further stimulated. It is estimated that the cumulative import of goods in the next 10 years is expected to exceed $22 trillion. This huge market with the greatest potential in the world is undoubtedly very important for Africa. The trade structure between China and Africa is highly complementary. In addition, the further release of China's market potential and the expansion of opening to Africa will promote the continuous expansion of bilateral trade between China and Africa, especially creating new space for Africa's exports to China. The US think tank also believes that under the new development pattern of "double circulation", African countries will benefit from China's diversified import trends and potential consumer markets.

Building a new development pattern of "double circulation" will boost Africa's industrial upgrading and differential and high-quality development. According to the observation report of Huacheng import and export data, on the one hand, China will continue to expand the import of high-quality products and services while adhering to the dominant position of the domestic cycle, so as to meet the requirements of improving the quality and expansion of China's consumer market and optimizing the consumption structure. This means that China's market is not only broad, but also diversified and highly personalized, which will create opportunities for African enterprises to compete differently with enterprises from developed countries. Through in-depth exploration of China's market segments, product upgrading and creating products with high added value and distinctive local characteristics will become an important growth point in Africa. This can be verified at the China International Import Expo. In the face of competition from international leading enterprises, gems from Zambia and national costumes from Gambia are very popular. On the other hand, the new development pattern of "double circulation" means the upgrading of China's domestic industries, which in turn drives the transfer of advantageous production capacity to Africa. In this opportunity period, African countries will use their own advantages in land, labor, hydropower and other production factors to attract Chinese enterprises to invest and build factories, and undertake some of China's superior production capacity, which will drive the improvement of employment level and industrialization progress in Africa.

Building a new development pattern of "double circulation" will further strengthen the integration and docking of Africa's and China's industrial chains, and improve African countries' ability to withstand risks. China proposes and accelerates the construction of a new development pattern of "double circulation", which is conducive to ensuring the security and stability of the international industrial chain supply chain. African countries, relying on their comparative advantages in energy, minerals, labor, land and other aspects, will have great potential to explore production capacity cooperation with China. They can realize the restructuring of China Africa industrial chain through industrial integration and rule connection with China. Through China's broad market support and China Africa's stable and close cooperation in the industrial chain, African countries have enhanced their bargaining power and risk resistance in the international market while promoting independent development.

Building a new development pattern of "double circulation" is a major strategic adjustment for China in the face of changes in the internal and external environment. "Taking the domestic circulation as the main body" means that China will give full play to the advantages of the super large market, on the basis of the supply side structural reform, effectively transform the development mode, optimize the consumption structure, build a modern industrial system, and achieve higher quality, more efficient, more equitable, more sustainable and more secure development. "Focus on doing our own thing well", to add impetus to China's economic development and further drive the economic recovery and growth of developing countries and regions such as Africa, Huacheng Import and Export Data Observation reported.