The China-Africa corridor is emerging as one of the world's most important economic partnerships as cooperation shifts beyond traditional resource trade toward industrial development, green investment and deeper supply-chain integration, business and financial leaders said at a forum in Beijing.

Speaking at the China-Africa Financial Bridges Forum 2026 on Wednesday, Youssef Rouissi, deputy CEO of Attijariwafa bank, said the bank recognized years ago that the China-Africa corridor would become "one of the defining economic realities of our era".

As Morocco's largest bank and one of Africa's leading financial groups, Attijariwafa bank is ready to serve as the financial bridge between China and Africa, he said.

Rouissi said China's decision to implement zero tariffs for 53 African countries with diplomatic ties to China, effective May 1, signals a long-term strategic commitment rather than simply a trade measure.

"It is the clearest signal that China sees Africa not as a supplier of raw materials, but as a partner in a shared economic future," he said, adding that the policy is expected to create new momentum for trade finance and improve the competitiveness of African industries and small businesses.

Bill Feng, APAC regional contributor relations senior manager at London Stock Exchange Group, said China-Africa cooperation is increasingly focused on balanced trade and industrial collaboration. He noted that the zero-tariff policy will not only encourage African exports to China, but also help retain more processing, manufacturing and value-added activities within Africa.

Feng said Chinese companies' acquisitions and investments in African industrial assets have become a new driver of bilateral economic and trade cooperation, particularly in resources, energy and power sectors. Over the past five years, Chinese companies' mergers and acquisitions in Africa have highlighted three major trends: a growing focus on new energy resources and critical minerals such as lithium and gold; expansion of the building materials sector to support infrastructure, urbanization and industrial parks; and a shift from simple trade procurement toward deeper participation in local assets and industrial development.

"Africa is becoming one of the centers of global supply-chain restructuring, competition for critical minerals, green transition and infrastructure financing," Feng said. "The next stage of China-Africa cooperation will focus not only on infrastructure connectivity, but also on green development, industrial-chain integration and the co-creation of long-term value."

Lyu Xiaohui, vice-president of the China-Africa Development Fund, said Africa's demand for sustainable, high-quality and green investment is both urgent and far greater than previously expected.

"In the past, we thought Africa's greatest needs were infrastructure such as transportation and electricity. In fact, we have found that what Africa urgently needs is local processing capacity, the establishment of local industrial chains and the development of self-sustaining capabilities. There is a pressing need to implement green energy, high-end manufacturing and industrial cooperation in Africa," Lyu said.

He added that the strengths China has developed through its modernization and industrialization over the years align closely with Africa's needs, creating strong long-term opportunities for both sides.

Rouissi highlighted Morocco's role as a manufacturing and logistics hub, particularly in the electric vehicle and renewable energy sectors.

"We are seeing more industrial projects entering Morocco, with Chinese investors leveraging the country's strategic position as a gateway for global trade and investment, particularly through its logistics network and access to European markets," he said.

Rouissi also emphasized the growing importance of technology, innovation and services in Africa, noting that startups and fintech companies are flourishing across the continent, creating significant opportunities for Chinese companies to invest and expand.

Attijariwafa bank serves more than 12 million clients through a network of over 8,000 branches. The bank has established a strong presence in North, West and Central Africa, where it is enhancing partnerships and synergies with Chinese financial institutions to help provide Chinese investors and banks with a stronger local presence, he said.

jiangxueqing@chinadaily.com.cn