Beijing’s ambassador to Cairo praises the comprehensive strategic partnership between China and Egypt

By Manal Abdel Fattah

China’s Ambassador to Egypt, Liao Liqiang, said that the past year witnessed the deepening of practical cooperation between China and Egypt, amid the expansion of China’s openness to the outside world.
The Chinese ambassador pointed out the attendance of Prime Minister Dr. Mostafa Madbouly at the third Belt and Road International Cooperation Forum in China, where China and Egypt signed a memorandum of understanding in the field of debt swaps for the implementation of development projects.

Liao Liqiang added that Egypt, as the first country in the Middle East and Africa, issued sustainable international “panda” bonds in the Chinese financial market, worth 3.5 billion yuan.

The Chinese ambassador pointed out the successful launch of the Egyptian Satellite 2 in China, stressing that Chinese-Egyptian cooperation has broader scope and higher quality.

The ambassador said that this year marks the 75th anniversary of the founding of New China, and the tenth anniversary of the establishment of the comprehensive strategic partnership between China and Egypt.

Liao Liqiang stressed that we will continue to make concrete efforts to achieve effective qualitative improvement and reasonable quantitative growth of the economy, enhance the momentum of economic recovery, and share the opportunities resulting from the typical Chinese modernization with Egypt and other countries, bringing proven elements and positive energy to the global economy full of uncertainty.

The Chinese Ambassador, Liao Liqiang, stressed that his country is keen to strengthen practical cooperation between Beijing and Cairo, especially since this year marks the tenth anniversary of the establishment of a comprehensive strategic partnership between China and Egypt.
Regarding growth opportunities for his country, the Chinese ambassador to Egypt said that the Chinese economy withstood external pressures last year, 2023, and achieved continuous recovery and steady progress for high-quality development, and the gross domestic product exceeded 126 trillion yuan, an increase of 5.2%, ranking advanced among the major economies. In the world.
Liao Liqiang added that the 5% economic growth target presented in the government work report for 2024 is not only higher than previous IMF and World Bank expectations, but also much higher than the International Monetary Fund’s expectations for growth in the United States and Europe, which sends a positive signal for development.
The ambassador cited the expectations of the International Monetary Fund representative in China, that the Chinese economy will contribute to a third of global economic growth in 2024, as well as the expectations of the British Economist Intelligence Unit that the fundamentals of China’s economy will be more solid in 2024, while the American Center for Strategic and International Studies believes that China has Strong exports of electric car batteries, electronic products and metals, and possesses industries with strong international competitiveness, in addition to the expectations of many international media that China has a huge economy, mature industries, and a broad middle class, and that it is an indispensable market for foreign investors.

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