Hon. Christopher Yaluma, Minister of Commerce, Trade and Industry of Zambia,

Mr. Herman Kasekende, Chief Executive Officer of Standard Chartered Bank Zambia

Executive members of Standard Chartered Bank Zambia,

Representatives from the Chinese communities,

Friends from the Press, Distinguished guests,

Ladies and Gentlemen,

Good evening.

It is a great pleasure for me to attend today's Chinese New Year Dinner. In the Chinese lunar calendar, we have just celebrated the "Year of the Pig" which symbolizes happiness in the Chinese zodiac culture. We are very delighted that Standard Chartered Bank Zambia is hosting this meaningful function to celebrate the Chinese New Year with representatives from the Chinese enterprises and communities in Zambia. On behalf of the Chinese Embassy, please allow me to express our sincere gratitude as well as appreciation to the Bank, and wish all distinguished guests here a happy Chinese New Year.

Ladies and gentlemen,

In the past year of 2018, the China-Zambia relationship opened a new chapter and the traditional friendship between the two countries stepped onto a new stage. The bilateral exchanges and cooperation in various fields stood out as new highlights and made rewarding great achievements. The public support for China-Zambia friendship was further consolidated, and the high-level frequent exchanges of our two countries enhanced mutual trust and understanding.

Last September, H.E. President Edgar Lungu headed a high-level delegation to visit China for the Beijing Summit of FOCAC. President Xi Jinping and President Lungu held a bilateral meeting in Beijing. The two heads of state witnessed the signing of a series of important bilateral cooperation documents, including the MoU on Cooperation within the Framework of Belt and Road Initiative and Agreements on Economic and Technological Cooperation between China and Zambia. This visit fully reflects the high-level political mutual trust and friendly cooperation between our two countries.

Last November, the first China International Import Expo was held in Shanghai. Hon. Minister Christopher Yaluma led a delegation of government and business representatives to China to attend the expo, marketing Zambia's high-quality products and huge market potential to the rest of the world. Last year, the economic and trade cooperation between China and Zambia also made significant progress. Our bilateral trade volume reached 5 billion US dollars for the first time with a year-on-year growth of 33.9%. China's direct investment in Zambia maintained a constant growth with an increase of 327 million US dollars, once again ranking second among African countries. A number of key projects of practical cooperation in the fields of energy, infrastructure, livelihood and manufacturing also made remarkable progress, which provides strong support to Zambia's industrialization and the 7th National Development Plan.

Ladies and gentlemen,

We just bid farewell to the achievement of 2018, and look forward to the good prospect of 2019. This year marks the 55th Anniversary of the establishment of China-Zambia diplomatic relations. China is dedicated to work with Zambia to take the opportunity of implementing the FOCAC Beijing Summit plans.

The financial collaboration between China and Zambia enjoys a solid foundation. Since 1990s, the Bank of China Zambia set up the first branch in Africa. This has become a bridge for financial cooperation between the two countries. Over the past 20 years, our financial institutions and enterprises has constantly deepened the cooperative relationship, supported each other and implemented a series of key projects in the principle of mutual benefit, obtained rapid growth and made great contributions to the economic and social development of Zambia.

Last September, Zambia officially announced to join the Belt and Road Initiative. The joint efforts of our two countries for the Belt and Road Initiative will surely offer more diversified resources and opportunities for the Zambia financial market. I would definitely believe that Standard Chartered Bank Zambia and other financial institutions will seize this rare opportunity, and grow together in the process of economic development of Zambia.

Finally, may I wish you all good health and prosperity in the New Year!

Thank you.