CHINESE ACADEMY OF INTERNATIONAL TRADE
AND ECONOMIC COOPERATION
MINISTRY OF COMMERCE, P. R. CHINA

Wed.29/10/2014

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Song Wei

Against the background of China-Africaindustrial capacity cooperation, financing is the key to strengtheningconnections with African countries' development strategies and facilitating thesmooth launch of production capacity cooperation projects.

Nigeria is a large oil-producing country, with a considerable sovereign wealthfund and sizeable investment strength. Since the US shale gas revolution,Nigeria has felt a lot of pressure from falling oil prices, so it has anincreasing desire for investment diversification.

Meanwhile, Chinese enterprises have "gone global" for many years,often with the support of State funds, but they don't have enough confidence intheir own ability to achieve profits. Moreover, there are lots of pessimisticviews toward China's overseas projects at home and abroad, such as thecontinuous criticism over the Lagos-Ibadan railway project. As such, Chineseenterprises are over-cautious about international operations. However, giventhe comprehensive and in-depth development of the Sino-Nigeria relationship,subjective and objective conditions are ripe for cooperation between bothparties' sovereign wealth funds.


The author is the associate research fellowof the Institute of International Development Cooperation.

This article is published on Global Times (April24, 2017).


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