The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
Awards

China in MEA: more than bricks and mortar

Five years after China launched its Belt and Road Initiative, its ambitions in the Middle East and Africa are beginning to go beyond infrastructure and oil.

Xi Jinping made a few calculated stops on his way to the 10th Brics leaders’ summit in South Africa this July. The trip – his first since he was reappointed as president of the People’s Republic of China in March – took him to the UAE, Senegal and Rwanda, with a final stop in Mauritius once the summit ended.

When Xi touched down in Dakar, he was given a hero’s welcome. A brass band played while Senegalese and Chinese flags waved high in the air. A couple of deals were signed during Xi’s whistle-stop trip, and what did become clear is that Senegal, a country that lies on the Atlantic Coast far beyond the original reach of the Belt and Road Initiative (BRI), is now firmly part of it.

“In the Middle East and Africa, Chinese involvement is becoming much broader, much more diversified,” says Carmen Ling, global head of renminbi internationalization and Belt and Road at Standard Chartered. Today, China’s interest in the region has few limits.

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree