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National Development and Reform Commission: Encourage enterprises to focus on manufacturing and invest more in basic components and other areas

09-24

On September 24, at a press conference on supporting enterprises and alleviating difficulties held by the National Development and Reform Commission (NDRC), Huo Fupeng, deputy director-general of the NDRC's Department of Industry, stated that enterprises should be encouraged to increase investment in manufacturing's fundamental components, materials, processes, and software.

Huo Fupeng stated that manufacturing is the foundation and cornerstone of a strong nation. Stabilizing investment in manufacturing plays a crucial role in solidifying the foundation of the real economy, accelerating the development of a modern industrial system, and promoting the dual upgrade of industry and consumption. Since the beginning of this year, investment in manufacturing has continued to grow strongly, with a year-on-year increase of 15.7% in the first eight months, 6.8 percentage points higher than the overall investment growth rate. Next, in accordance with the relevant deployments of the Central Committee of the Communist Party of China and the State Council, and focusing on promoting high-quality development in manufacturing, the NDRC will actively encourage and guide social capital to increase investment, focusing on five areas to maintain a good growth momentum in manufacturing investment.

First, consolidate the industrial foundation. Encourage enterprises to focus on increasing investment in manufacturing's fundamental components, materials, processes, and software, striving to break through key technologies, achieve engineering and industrialization, and make up for shortcomings in the foundation of industrial development.

Second, promote the transformation and upgrading of traditional industries. Encourage enterprises to increase investment in technological transformation, apply advanced technologies, update production equipment, improve product quality, strengthen brand building, and accelerate the transformation to high-end, intelligent, and green development, using high-quality supply to adapt to, lead, and create new demand.

Third, accelerate the development of advanced manufacturing. Encourage enterprises to target future industrial transformation directions, continuously expand effective investment, accelerate the industrialization of major technological innovation achievements, cultivate new technologies, products, formats, and models, and enhance the core competitiveness of the entire industrial chain.

Fourth, promote the integrated development of advanced manufacturing and modern services. Encourage enterprises to cultivate and develop specialized service institutions, enhance industrial innovation capabilities, improve the efficiency of factor allocation, and enhance the competitiveness of the entire industrial chain.

Fifth, optimize the regional layout of industries. Encourage enterprises to increase investment in central, western, and northeastern regions, making good use of China's strategic depth of development, optimizing the regional layout of the industrial chain, achieving orderly domestic industrial transfer, and enhancing the rootedness of industries. (Zhongxin Jingwei APP)

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Zhenghe Exhibition visited Nigerian automotive technology and other industry associations to promote cooperation on the 2025 Nigeria (Lagos) China Goods Expo.

From January 3rd to 6th, 2025, representatives of Zhenghe Exhibition's overseas staff successively visited the secretariat of the Nigerian Automotive Technicians Association (NATA), the Amalgamated Union of Automobile Motor Mechanics and Technicians of Nigeria (AUOMMATON), and the Motor Mechanics and Technicians Association of Nigeria (MOMTAN). This visit primarily focused on in-depth discussions and exchanges regarding cooperation for the 2025 Nigeria (Lagos) China Commodities Fair. During the meetings, representatives of Zhenghe Exhibition's overseas staff introduced the basic situation of the Nigeria (Lagos) China Commodities Fair to the heads of the business associations. The heads of the various business associations acknowledged the significant achievements made by the exhibition in recent years. During the discussions, the three industry association leaders provided detailed information about their respective associations. As leaders and promoters of associations related to the automotive industry in Nigeria, these three associations have a wide influence in Nigeria and even West Africa. Against the backdrop of continuously deepening and upgrading China-Africa cooperation, they expressed high expectations for actively promoting trade cooperation between Nigeria and China in the automotive industry. The heads of the associations also stated their willingness to work with Zhenghe International Exhibition to jointly promote the continuous development of the Nigeria (Lagos) China Commodities Fair, uniformly organize member units to participate in the exhibition, and conduct one-on-one matchmaking discussions with Chinese exhibitors. As Africa's second-largest economy and most populous country, Nigeria has a huge demand for automotive and auto parts products, largely relying on imports. In Nigeria, over 90% of Nigerians tend to choose 'tokunbo' (used cars), which makes the 'tokunbo' distribution business very profitable in Nigeria. With the Nigerian government relaxing age restrictions on imported used cars, the volume of used car imports will further increase. Consequently, the auto parts market, both upstream and downstream of Nigeria's used car industry chain, will also see more opportunities. After years of operation by Chinese automakers, Chinese cars have established considerable 'prestige' in Nigeria. At the same time, the scarcity of local car repair outlets and the high cost of spare parts in Nigeria also indicate immense potential for Chinese auto parts exports to the Nigerian market.

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Deep cultivation of fertile soil ensures abundant blossoms - The 2025 Nigeria Lagos China Commodities Fair embarks on a new journey!

Nigeria is an important trade partner and investment destination for China in Africa, and also China's largest contracted project market in Africa. In 2023, the new contract value for Chinese enterprises' contracted engineering business in Nigeria reached 10.45 billion USD, with a turnover of 3.98 billion USD. On September 3, 2024, China and Nigeria issued a joint statement announcing the establishment of a comprehensive strategic partnership, promoting the building of a high-level China-Nigeria community with a shared future, and explicitly strengthening cooperation in areas such as infrastructure construction. Chinese Products are Hot-selling in the Nigerian Market under the Framework of China-Africa Cooperation According to data from the General Administration of Customs, from January to July 2024, China's imports and exports with Africa totaled 1.19 trillion CNY, a year-on-year increase of 5.5%. In 2023, China-Africa trade reached a historical peak of 282.1 billion USD, a year-on-year increase of 1.5%, demonstrating the strong resilience of China-Africa trade. Among them, trade between Nigeria and China is booming. In 2023, the total trade volume between China and Nigeria soared to an astonishing 281.777 billion USD, with China's exports to Nigeria reaching 172.469 billion USD, highlighting the immense appeal of Chinese products in the Nigerian market. The main hot-selling products fall into the following major categories: 1. Electromechanical Products and Agricultural Machinery Products From efficient power generation equipment to reliable electrical products, China's electromechanical products have continuously met Nigeria's growing needs and directly promoted the rapid development of its infrastructure construction. In addition, hardware tools, power tools, construction machinery, and other electromechanical products are also very popular. The import of agricultural machinery, food machinery, and packaging machinery has adapted to the development needs of Nigeria's agriculture and food processing industries. At the same time, industrial manufacturing-related electromechanical products such as machine tools provide strong support for Nigeria's industrial development. 2. Textile and Garment Products Nigeria is Africa's most populous country, with a current population exceeding 227 million, leading to huge domestic market demand. Textiles and clothing are major export items from China to Nigeria, accounting for 15% of China's total exports to Nigeria. Statistics show that in 2022, Nigeria's textile and garment imports reached 110 million USD, with China being its largest source country, accounting for approximately 47% of the total imports, almost half. As Nigeria's urbanization accelerates, more young people are eager to express themselves. In terms of fabrics, wax prints with unique craftsmanship and patterns, and brightly colored African jacquard fabrics are popular; for finished garments, shirts and sportswear with Chinese cultural elements or designs that align with local aesthetic preferences are highly sought after; regarding accessories, exquisite embroidery and unique buttons could also be among the featured products. 3. Auto Parts Products Nigeria is considered Africa's largest potential automotive market. In Nigeria, over 90% of Nigerians prefer "tokunbo" (used cars), making the "tokunbo" distribution business very profitable in Nigeria. With the Nigerian government relaxing age restrictions on imported used cars, the volume of used car imports will further increase. Therefore, the auto parts market, both upstream and downstream of Nigeria's used car industry chain, will also see more opportunities. 4. Wigs and Hair Products Eight out of every 10 Nigerian women wear wigs. Nigerian women have a particular preference for wigs and hair extensions, creating a substantial market for hair products of various sizes and prices. Furthermore, there is also significant demand for hair care products such as shampoos, relaxers, hair creams, and detangling brushes. 5. Building Materials, Hardware Accessories With the acceleration of urbanization and the continuous advancement of infrastructure construction in Africa, the African building materials and hardware market is showing vigorous development. 70% of hardware products in the African market rely on imports. The demand for hardware products is mainly concentrated in saw blades, steel pipes, and various types of mechanical hardware. From "Whether to Go" to "How to Go," Enterprises "Have a Soft Spot" for the African Market From surveying the Nigerian market in 2002 to bringing the Nigeria (Lagos) China Commodities Expo to the public's attention in 2007. In the blink of an eye, Zhenghe Exhibition has been organizing the Nigeria (Lagos) China Commodities Expo for over 17 years. Throughout the 53 years of China-Nigeria diplomatic relations, Zhenghe Exhibition has made every effort to actively assist in deepening the economic and trade relations between enterprises of both countries! Over these 17 years, we have organized thousands of enterprises from over 20 provinces and cities, including Hebei, Jilin, Liaoning, Shandong, Fujian, Zhejiang, Henan, Hubei, Hunan, Jiangsu, Anhui, Guangdong, Beijing, Shanghai, Tianjin, and Chongqing, to participate in the exhibition. Exhibits covered various fields such as agricultural machinery, vehicles and parts, construction machinery, hardware building materials, power equipment and new energy products, textiles and garments, beauty products, and daily necessities. With the strong support of the nation, we worked together with the participating enterprises to overcome difficulties, enabling each exhibiting enterprise to take root, blossom, and bear fruit in Nigeria! According to incomplete statistics, the 2024 Nigeria Lagos China Commodities Expo achieved an intended transaction volume of 82 million USD on-site, with many popular products signed on the spot. 2025, Embarking on a New Journey In nearly two decades of deeply cultivating Africa, we have witnessed the beautiful scenery and unique charm of the African continent, and even more strongly felt the African people's fervent aspiration and passionate pursuit of a better life. We have also jointly witnessed the transformation of Chinese enterprises in Africa from scratch to growth, from daily necessities to steel, aluminum, and mechanical equipment. The African market has demonstrated unprecedented investment potential and development opportunities. At this critical period in the development of China-Africa relations, Zhenghe Exhibition will actively combine our "first-mover advantage" with "African endowments," act as a bridge, and facilitate more "Made in China" products entering and becoming popular in Africa.