Mr Wang: Since the establishment of diplomatic relations between China and Zambia 60 years ago, the two countries has always adhered to the principles of “mutual respect, equality and common development” to develop their bilateral relations. Political mutual trust between the two countries has been continuously enhanced, economic cooperation has been flourishing in an all-round manner, and people-to-people exchanges have become more and more frequent. When people talk about China-Zambia relations, the first impression that comes to mind is the all-weather friendship, which was forged by the founding fathers of the two countries, including Chairman Mao Zedong and President Kenneth Kaunda, and has continued to flourish, beaming with new vitality as time goes by.

President Hichilema paid a historic and successful State Visit to China last September, at the invitation of President Xi Jinping. The two Heads of State decided to upgrade the bilateral relationship to Comprehensive Strategic and Cooperative Partnership, charting a new course for greater development of China-Zambia relations in the new era. At the beginning of this year, China tried its best to help Zambia fight against the cholera epidemic, which is a concrete action to implement the important consensus reached by the two Heads of State to work together to build a community with a shared future for mankind.

In addition to the 60th anniversary of the establishment of our diplomatic relations, this year is also the Year of Business Cooperation as well as the Year of Culture and Tourism designated by the two Heads of State. The new session of the Forum on China-Africa Cooperation (FOCAC) will also be held this year. The two countries will exchange delegations and jointly host a series of economic, trade, culture and tourism activities, which will definitely bring more opportunities for the bilateral cooperation and benefit the two peoples. As far as I know, the China-Zambia High-Quality Development Forum will be held in Lusaka in mid-May, and the Technology Empowers Mining Development Forum will be held in the Copperbelt Province in late May. At the same time, China and Zambia will further deepen cooperation in various fields under the framework of FOCAC. Therefore, this year will definitely be a colorful and fruitful year in the history of China-Zambia relations. I am full of confidence and expectations that China-Zambia relations will achieve greater development in 2024.

Ms Kalenga: What are the key areas of Chinese investment in Zambia? What is the significance of China’s announcement of the TAZARA revitalization project for bilateral relations?

Mr Wang: During President Hilema’s State Visit to China last September, the two countries signed 16 bilateral cooperation documents covering agriculture, mining, green energy and other areas. At this stage, the working teams of the two countries are stepping up coordination, to accelerate the implementation of the consensus reached by the two Heads of State and promote bilateral cooperation in various fields.

For example, shortly after the Sate Visit, on 27th September 2023, the Chinese mining giant China Non-Ferrous Metals Mining Company (CNMC) announced a plan to invest $1.3 billion in the next five years in Zambia across a range of sectors. On 13th September 2023, Zambia Jiangxi Economic Cooperation Zone (the Jiangxi Multi-Facility Economic Zone, MFEZI) in Chibombo district of the Central Province had been officially commissioned by President Hakainde Hichilema. Chinese companies are also actively looking for cooperation opportunities in large-scale agricultural development in Zambia.

The story of China’s assistance to the construction of TAZARA is well known in the three countries, and TAZARA is hailed as a Monument of China-Africa friendship. On 7th February 2024, the Chinese side officially submitted to the Zambian side the commercial plan of the TAZARA revitalization project, marking an important step in the TAZARA revitalization. China will continue to work with Zambia and Tanzania to push for the early implementation of the TAZARA revitalization project. As a flagship project of the Belt and Road cooperation between China and Zambia, the revitalization of TAZARA will strongly promote the development of Zambia’s transport infrastructure, enhance regional connectivity and economic development along the railway line, and turn the “road of freedom” into a “road of development and prosperity”, continuously providing internal impetus for the development of China-Zambia relations.

Ms Kalenga: Does China feel threatened with US interest in critical minerals in Zambia and Africa as a whole? How do you view the competition between China and US?

Mr Wang: There is no denying that China needs critical minerals for its development. There are two ways for China to obtain these key minerals. One is to purchase them at competitive prices in the international market, and the other is to carry out investment cooperation in the mining producing countries, which bring a lot of tax revenue and employment opportunities to the local communities. For example, the Luanshya copper mine in Zambia invested by China Non-Ferrous Metals Mining Company (CNMC) contributes 90% of local tax revenue and creates 70% of local jobs. The competition between major countries in Africa should not be a zero-sum game, but work together to promote Africa’s development. Certain countries should pay more attention to making good use of their advantages to promote the Zambian and African development agenda, instead of doing everything possible to slow down and hinder the China-Africa cooperation. Otherwise it will have a negative impact on Africa’s development, and the African people will not allow it.

Ms Kalenga: Does the Kwacha exchange rate fluctuation affect Chinese investment? How to promote China-Zambia economic, trade and investment cooperation?

Mr Wang: China hopes to see the Kwacha exchange rate remain stable and the Zambian economy continue to rebound with good posture. The Kwacha exchange rate fluctuations are influenced by a number of factors, including the high interest rate of US dollar resulting in a lack of US dollar supply in the market, putting pressure on the Zambian economy.

We are pleased to note that with concerted efforts of the Official Committee of Creditors (OCC), including China, Zambia has made significant progress in the debt restructuring process recently, which has laid a solid foundation for macroeconomic stability and national development. We hope that the economic, trade and investment cooperation between China and Zambia will be further expanded and the two sides make greater use of local currencies in trade and investment, and help businesses of both countries reduce costs of currency exchange and lower exchange rate risks. The two sides are working together to create a favorable policy environment for promoting settlements in local currencies.