BEIJING, CHINA – Media OutReach Newswire – 31 December 2024 – CGTN publishes an article on a special interactive page named “Chinese Modernization, People’s Well-being Matters Most,” which details China’s modernization drive and high-quality development in various areas in 2024 through visual effects and in-depth stories. The article summarized Chinese President Xi Jinping’s domestic tour in 2024, and highlighted his care for improving people’s well-being in various areas and promoting high-quality development, stressing that “the people’s well-being matters the most in Chinese modernization.”
As 2025 draws near, China’s consumption has shown signs of revitalization as various regions and departments have enhanced the supply in the country’s consumption market.
Official data showed that the country’s popularity index for offline consumption increased by five percent year on year, and the popularity index of services showed a year-on-year jump of 10.6 percent.
The boom in consumption highlights the improvement of people’s livelihoods. “As far as Chinese modernization is concerned, the people’s well-being matters the most,” Chinese President Xi Jinping said while inspecting Chongqing Municipality in April.
During Xi’s domestic tours in 2024, “people” was one of the most frequently mentioned keywords, according to an analysis by CGTN, joined in the top 10 by others such as “development,” “modernization,” “economy,” and “ecology,” underscoring the direction and key elements of China’s path to modernization.
“Chinese Modernization, People’s Well-being Matters Most,” a special interactive page launched by CGTN, details China’s modernization drive and high-quality development in various areas in 2024 through visual effects and in-depth stories.
People’s well-being matters most
Xi has often stressed that every issue that affects the people, big or small, deserves the utmost care and attention.
During his inspection tours around China this year, he visited ordinary people to learn about their lives, from their incomes and housing to healthcare, education, and elderly care services.
“The Communist Party of China (CPC) is dedicated to serving the people, and the well-being of the people of all ethnic groups and every household is my concern,” Xi said while visiting a multi-ethnic residential community in Yinchuan, northwest China’s Ningxia Hui Autonomous Region in June.
According to China’s Ministry of Finance, 70 percent of the government’s expenditure in 2024 has gone toward ensuring the people’s well-being.
The country has raised its expenditure in the national general public budget to about 28.55 trillion yuan ($3.91 trillion) this year, up 4 percent from the previous year, with projected budgets for education, social insurance and employment each surpassing 4 trillion yuan in 2024.
A bumper harvest
Grain security and rural revitalization have also been high on Xi’s agenda in 2024.
He has frequently visited the countryside during his inspection tours, engaging with workers in fields, greenhouses and orchards and asking in-depth questions about various aspects of rural and agricultural life, from crop production to incomes.
When visiting a village in Hunan Province in March, Xi inspected preparations for spring farming. He emphasized that, with a population exceeding 1.4 billion, China must secure its own grain supply.
The latest National Bureau of Statistics of China data showed that in 2024 the country’s total grain output exceeded 706 million tonnes, an increase of 1.6 percent over the previous year, hitting a new record high.
This year’s bumper harvest was accompanied by a rise in grain planting areas in the country, which stood at over 119 million hectares, up 0.3 percent year on year. Additionally, grain output per unit area increased by 1.3 percent, the data showed.
In another positive development, China’s food security law, aimed at ensuring the supply of grain and related products, took effect in June.
Accelerating rural revitalization
Since China’s elimination of absolute poverty in 2021, the country’s focus on rural work has shifted to rural revitalization. Xi has stressed that to advance Chinese modernization, efforts must be made to accelerate rural revitalization.
China has identified 160 major counties for national rural revitalization assistance and allocated over 177 billion yuan in subsidies to support their development in 2024.
In the first three quarters of this year, the per capita disposable income of rural residents reached 16,740 yuan, a real-term annual increase of 6.3 percent.
Meanwhile, the central government allocated development funds of 7.4 billion yuan to improve production and living conditions in ethnic minority dominant villages and to protect and develop such villages.
The country has also launched monitoring and support mechanisms to prevent once-poor populations from falling back into poverty.
Work-relief programs to boost employment were also implemented this year. As of the end of October, the total scale of employment for poverty-stricken people in China had reached 33.079 million, exceeding the annual target by 2.888 million, providing strong support for consolidating and building on the achievements of poverty alleviation.
This year’s U.S.-Africa Energy & Minerals Forum in Houston signals a strategic shift toward integrated energy and critical minerals investment, strengthening U.S. partnerships across Africa’s resource and industrial value chains
HOUSTON, United States of America, February 26, 2026/APO Group/ –The U.S.-Africa Energy & Minerals Forum (USAEMF) has relaunched with a dedicated focus on critical minerals, marking an important evolution in its role as a platform for U.S.-Africa commercial engagement. Building on its foundation in energy, power and industrial projects, the forum’s expanded scope positions it at the center of investment conversations shaping the future energy economy.
Scheduled for July 21–22, 2026, in Houston, Texas, USAEMF comes at a time of surging global demand for copper, cobalt, lithium, manganese and rare earth elements, driven by electrification, battery storage, AI infrastructure and advanced manufacturing. Africa is increasingly critical to securing these materials, highlighting how energy and minerals are now interconnected pillars of industrial growth, geopolitical stability and decarbonization.
The forum’s minerals mandate deepens engagement with African producers – particularly the Democratic Republic of Congo (DRC), home to some of the world’s largest copper and cobalt reserves. Momentum is building through the U.S.–DRC strategic minerals framework and the U.S.-backed Orion Critical Mineral Consortium, a major investment platform supported by the DFC and private partners. The consortium is pursuing a 40% stake in the Mutanda and Kamoto copper-cobalt operations in a $9 billion transaction, securing long-term supply for allied markets while reinforcing cooperation on infrastructure, security and supply-chain governance.
Placing critical minerals at the center while maintaining strong hydrocarbons engagement strengthens U.S.-Africa commercial ties
U.S. financing is also expanding across the region, with the DFC managing a continental portfolio exceeding $13 billion to support mining, processing and transport infrastructure for critical mineral supply chains. Recent commitments include rare earth, graphite and potash projects in Malawi, Mozambique and Gabon; broader investments in Uganda, Tanzania, Zambia and South Africa; and $553 million linked to the development of the Lobito Corridor. The DFC is also a major backer of TechMet, a U.S.-supported investment firm valued at over $1 billion, which is raising up to $200 million to expand copper, cobalt, lithium and rare earth assets and pursue new opportunities across the DRC and Zambia. Together, these initiatives underscore Washington’s push to diversify battery-mineral supply while positioning Africa as a long-term partner in clean energy and industrial value chains.
Houston’s role as host city reflects the alignment between American industrial capacity and African resource development. Long established as a global energy hub, the city is expanding into energy transition technologies, advanced materials, carbon management and industrial innovation. By convening African governments with U.S. private equity, development finance institutions, exporters, insurers and technical service providers, the forum creates a commercial platform capable of converting mineral potential into bankable projects.
“The evolution from USAEF to USAEMF reflects a broader shift toward integrated energy and mineral development,” states Nadine Levin, Portfolio Director at Energy Capital & Power, forum organizers. “Placing critical minerals at the center while maintaining strong hydrocarbons engagement strengthens U.S.-Africa commercial ties and advances projects that deliver long-term shared value.”
While critical minerals define the forum’s strategic expansion, the U.S.’ longstanding role in Africa’s energy sector remains central to the platform’s value proposition. American energy companies continue to advance exploration and development across key upstream markets, support gas monetization in the Gulf of Guinea and revitalize mature production in North Africa. U.S. export credit and development finance are also helping unlock large-scale LNG capacity in Mozambique while supporting optimization and expansion across existing gas infrastructure in West Africa – demonstrating how American capital, engineering expertise and risk-mitigation tools convert resource potential into delivered energy systems.
USAEMF is the leading platform connecting U.S. capital and technical expertise with Africa’s energy and minerals sectors. For more information or to participate at the upcoming forum, please contact sales@energycapitalpower.com
Distributed by APO Group on behalf of Energy Capital & Power.
The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders
NAIROBI, Kenya, February 26, 2026/APO Group/ —
Instant 24/7 bank-to-bank transfers across African borders in local currencies.
Simpler cross-border payments for individuals, businesses, and SMEs.
80 plus Pesalink network participants now linked to 160 plus PAPSS participating banks.
Pesalink, Kenya’s de facto instant payment network, has partnered with the Pan-African Payment and Settlement System (PAPSS) to ease cross-border payment and speed up regional financial integration.
The partnership enables instant 24/7 cross-border payments from PAPSS participants into banks and mobile money operators within the Pesalink network in Kenya, all settled in local currencies. This reduces complex correspondent banking requirements and reliance on foreign reserve currencies.
Kenyan banks will now be able to offer faster, cheaper cross-border payments
PAPSS, an initiative of the African Export-Import Bank (Afreximbank) in collaboration with the African Union and the AfCFTA Secretariat, enables cross-border payments between African countries. Pesalink is now a Technical Connectivity Provider. It means that 80 plus Kenyan bank, fintech, SACCO and telco participants on the Pesalink network will be connected to 160 plus commercial banks and fintechs on the PAPSS platform.
Cross-border payments remain expensive and slow for many African businesses. The 2023 (http://apo-opa.co/4baDSh7) World Bank Remittance Prices report indicates that sending money across African borders incurs on average 7-8% of the total value sent (above the global average of 6–7%). Settlement can also take three to seven business days.
The Pesalink–PAPSS partnership will reduce costs, speed up settlements, and help individuals, SMEs and businesses send money more efficiently across borders.
Speaking during the partnership signing held at Pesalink offices in Nairobi, PAPSS CEO Mike Ogbalu III said, “For PAPSS to deliver true impact, collaboration with national and private switches like Pesalink is essential. Pesalink is the first switch we’ve piloted for transaction termination in Kenya, and we are already seeing greater adoption by opening more channels for seamless, local-currency cross-border payments across Africa.”
Pesalink CEO, Gituku Kirika, said “Kenyan banks will now be able to offer faster, cheaper cross-border payments. They will be helping their customers grow more regional trading relationships and thrive in a more integrated digital economy.”
Distributed by APO Group on behalf of Afreximbank.
Second edition convenes global policymakers, business leaders, and innovators to accelerate Africa’s integration into global trade
CAPE TOWN, South Africa, February 26, 2026/APO Group/ –Access Bank Plc (www.AccessBankPLC.com) is proud to announce the distinguished line-up of speakers for the second edition of the Africa Trade Conference (ATC 2026), scheduled to take place on March 11, 2026, at the Cape Town International Convention Centre, Cape Town, South Africa. Building on the strong foundation of its inaugural edition, ATC 2026 will convene an exceptional assembly of global and African leaders, policymakers, investors, and business executives committed to shaping the future of trade on the continent.
The Africa Trade Conference has rapidly emerged as a premier platform for advancing dialogue and action around Africa’s evolving role in global commerce. The 2026 edition will feature influential voices from across finance, government, development institutions, and the private sector, who will share insights on unlocking trade opportunities, strengthening intra-African commerce, enabling business expansion, and positioning African enterprises for global competitiveness.
The confirmed speakers represent a powerful cross-section of leaders driving Africa’s economic transformation.
Building on the momentum of its maiden edition, which convened senior decision-makers from 28 countries, the 2026 conference with the theme “Turning Vision into Velocity: Building Africa’s Trade Ecosystem for Real-World Impact”, will have the keynote address delivered by Kennedy Mbekeani, Director General, Southern Africa Region, African Development Bank (AfDB), alongside Kwabena Ayirebi, Managing Director, Banking Operations at the African Export-Import Bank. Their joint keynote will address the evolving financing landscape for African trade and the strategic pathways for unlocking continental prosperity.
The welcome address will be delivered by Roosevelt Ogbonna, CEO/GMD, Access Bank Plc, who will set the tone for discussions centered on trade transformation, financial inclusion, and regional competitiveness, while Tolu Oyekan, Managing Director & Partner at Boston Consulting Group, will deliver insights on “Africa Trade Outlook 2026”, examining emerging macroeconomic trends, supply chain shifts, and growth opportunities across key sectors. The CEO of Pan-African Payment and Settlement System, Mike Ogbalu, will be engaging the conference participants on the topic, “Building a Connected Africa Through Trade, Payments & Technology”, focusing on how payment interoperability and digital infrastructure can accelerate the African Continental Free Trade Area (AfCFTA) agenda.
The calibre of speakers confirmed for this year’s conference underscores the urgency and opportunity before us
The conference will also host a High-Level Ministerial Panel that features Elizabeth Ofosu-Adjare, the Minister for Trade, Agribusiness & Industry, Ghana; Tiroeaone Ntsima, Minister of Trade and Entrepreneurship, Botswana; Mr. Florian Witt, Divisional Head, International & Corporate Banking Oddo-BHF, Ms. Nathalie Louat – Global Director, International Finance Corporation (IFC), Dr Isaiah Rathumba – Head of Department, Limpopo Economic Development, Environment and Tourism and Mr. Alfred Idialu – Chief Rep Officer, Deutsche Bank among other policymakers shaping trade policy across the continent.
Commenting on the announcement, Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank Plc, said: “The Africa Trade Conference reflects our unwavering commitment to advancing Africa’s economic transformation by creating a platform that brings together the leaders, institutions, and ideas shaping the future of trade. The calibre of speakers confirmed for this year’s conference underscores the urgency and opportunity before us. Africa is not only participating in global trade, it is helping to redefine it. Through this convening, we aim to catalyse partnerships, unlock new opportunities for businesses, and accelerate Africa’s integration into global value chains.”
“At Access Bank, we see ourselves not just as financiers, but as connectors of markets, ideas, and opportunities. Our role is to help African businesses move from ambition to impact, from local relevance to global competitiveness.”
With operations in 24 countries globally, including 16 across Africa, Access Bank’s expansive footprint places it in a unique position to facilitate cross-border trade, unlock regional value chains, and simplify the complexities of doing business across markets.
“Our presence across Africa and key global corridors gives us a front-row seat to the realities of trade. It also gives us the responsibility to design solutions that are inclusive, scalable, and future facing. ATC 2026 is part of that commitment, Ogbonna added.
ATC 2026 is expected to catalyze partnerships, enable policy dialogue, and provide actionable strategies for businesses operating within and beyond the continent.
The Access Bank Chief puts it thus, “Africa will not be a spectator in the remaking of global trade. We will be one of its architects. ATC 2026 is where those blueprints will be drawn.”
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