The 9th China-Africa Cooperation Forum (FOCAC 9) began on Wednesday in Beijing, bringing together over 50 African leaders, international organizations, and UN Secretary-General António Guterres.

The forum, running until September 6, 2024, focuses on strengthening partnerships under the theme "Promoting Modernization and Building a High-Level China-Africa Community with a Shared Future."

Chinese President Xi Jinping announced $50.7 billion in funding for African projects over the next three years, aiming to create one million jobs and enhance cooperation in infrastructure and trade. Over half of this funding will be in the form of loans, with $11 billion in aid and $10 billion to encourage Chinese companies to invest in Africa.