The 2024 Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) has been highlighted as a major diplomatic event for China this year. The Chinese government has placed significant importance on the summit, dedicating resources and implementing measures such as road closures and heightened security to host African delegations.

FOCAC Summits, which occur every three years, alternate between Beijing and an African capital. Announcements made at these gatherings are often viewed as indicators of the future direction of China-Africa relations. At this year’s event, President Xi Jinping outlined 10 partnership initiatives for the years 2025-2027. These initiatives span areas like trade, industrial cooperation, civilizational exchanges, health, agriculture, green development, and security, among others.

China's financial commitment to Africa has seen substantial growth since the first FOCAC in 2006, starting at $5 billion and peaking at $60 billion by 2018. The impact of post-pandemic economic struggles led to a reduced commitment of $40 billion at the 2021 Dakar FOCAC. Despite current economic challenges, China pledged $50.7 billion at this year's summit. This package includes $10 billion in investments, $10.7 billion in aid, and $30 billion in unspecified credit lines.

The focus of China’s financial efforts has shifted over time from large-scale infrastructure to capacity-building and development projects. Collaboration with African partners is now emphasized, reflecting a change from hard infrastructure investments to development-based cooperation.

Trade continues to be a critical issue, with China working to remove tariffs on imports from least developed countries and increase access for African agricultural goods. However, concerns persist about trade imbalances, as Chinese exports have surpassed African imports since 2015.

The summit also emphasized "exchanges of governance experience," highlighting China's desire to promote its governance model in Africa. This initiative includes the establishment of study centers and leadership training programs for African political figures. Since FOCAC's founding in Beijing 24 years ago, both sides have benefited from their partnership, though challenges such as debt stress and trade imbalances remain. Nonetheless, leaders are optimistic about addressing these issues together, aiming for mutually beneficial, long-term outcomes.