The 7th WCIFIT｜Chongqing Automotive and Motorcycle Enterprises Forge Partnerships with African Companies, Signing Contracts Worth Over RMB1.6 Billion

On the afternoon of May 22, the Supply and Purchase Matchmaking Event of Chinese Automotive and Motorcycle Brands into the African Market, a key thematic event of the 7^th WCIFIT, was successfully held. During the event, the Chongqing Municipal Commerce Commission and the China-Africa Business Council signed a memorandum of understanding on enhancing economic and trade exchanges and cooperation with Africa. Three Chongqing-based enterprises signed project agreements with companies from Nigeria, Rwanda and Kenya, totaling RMB1.65 billion in contract value. The agreements primarily cover projects related to automotive and motorcycle assembly, as well as supporting components.

The matchmaking event also released two authoritative reports. Among them, the Digital Talent Committee of the UNIDO Fourth Industrial Revolution Alliance presented the report titled Building a Global AI and Digital Talent Ecosystem to Empower Africa's Automotive and Motorcycle Industry. The report highlights that the global AI market size in manufacturing is projected to grow from USD2.1 billion in 2021 to USD16.5 billion by 2028, and the global automotive intelligence market is expected to reach USD14.92 billion by 2030. China, with its complete industrial chain, advanced technology, and abundant talent pool, leads the world in sectors such as new energy vehicles (NEVs) and intelligent connected vehicle (ICV) technologies, while Africa, with its vast market demand, rich natural resources, and growing industrial dynamism, is emerging as a new force in the global automotive and motorcycle industry.

Chongqing Modern Open Economy Research Institute and the China-Africa Business Council jointly released the Research Report on Chongqing's Automotive and Motorcycle Exports to Africa. The report predicts that by 2027, Chongqing's automobile exports to Africa will exceed RMB35 billion, and motorcycle exports to Africa will surpass RMB3 billion. The report recommends that Chinese enterprises conduct precision market research, implement deep localization operations, swiftly seize opportunities in green transportation development, and cultivate the African market with a "long-termism" approach.

Additionally, the Alliance on Chinese Automobile and Motorcycle Exports to Africa was officially launched. The alliance, jointly established by 11 organizations including China-Africa Business Council, China Chamber of Commerce for Motorcycle, Chongqing Changan Automobile Co., Ltd. and Seres Group Co., Ltd., will serve as a cooperation bridge between Chinese automotive/motorcycle enterprises and the African market in the future. Through resource integration, information sharing, policy coordination, and industrial collaboration, it will provide services such as market research, policy interpretation, and business matchmaking. These initiatives aim to reduce overseas expansion costs and enhance market competitiveness for enterprises.

At the matchmaking event, representatives from governments and enterprises of both China and Africa engaged in vibrant discussions under the theme "New Era for Automotive and Motorcycle Brands 'Leaping into Africa'", sharing insightful perspectives and exploring new opportunities for industrial cooperation between China and Africa in the automotive and motorcycle sectors.

Participants from China and abroad unanimously acknowledged that the matchmaking event provided think-tank analyses to decode industry trends, facilitated practical experience-sharing, addressed AI and digital talent ecosystem development, and highlighted supply chain finance solutions. Through a systematic approach, the event mapped out a roadmap for the China-Africa automotive and motorcycle industry to transition from "trade-oriented exports" to "ecosystem-based exports".

Source: New Chongqing - Chongqing Daily