Luanda:Angolan President João Lourenço held discussions with Chinese ambassador Zhang Bin at the Presidential Palace in Luanda to evaluate and enhance the economic, commercial, and financial ties between Angola and China.
According to Angola Press News Agency, the conversation centered on broadening investments and advancing industrialization, energy, agriculture, and infrastructure development. Following the meeting, Ambassador Zhang did not issue any public statements.
Bilateral trade between the two countries reached 20.83 billion US dollars in 2025, with the trade for the first half of 2026 amounting to 10.8 billion US dollars, as per the data from Chinese authorities. By September, accumulated Chinese investments in Angola nearly hit 28 billion US dollars, with around 600 Chinese-backed enterprises present in the country.
Beyond the petroleum sector, Chinese investments in Angola extend into mining, energy, agriculture, manufacturing, information technology, transportation, and logistics. These are key sectors identified by Luanda for economic diversification. Prominent joint projects include the Caculo Cabaça Hydroelectric Project, with participation from China Gezhouba Group Corporation, the Quilonga Grande Water Supply Project, and the Caio Deepwater Terminal in Cabinda.
Additionally, energy officials are considering a proposal to implement battery energy storage systems with a total capacity of about 360 megawatts at solar parks located in Benguela. Under trade agreements initiated in December 2024, Angola enjoys zero-tariff access to the Chinese market across all tariff lines, aimed at boosting domestic exports. Financial cooperation is also advancing to support cross-border settlements and transactions in Chinese Yuan through banking and corporate networks in both countries.
The relationship between Angola and China was elevated to a Comprehensive Strategic Cooperation Partnership during President Lourenço's state visit to Beijing in March 2024.
