Luanda: Angola's debt with China recorded a reduction of up to 12.9 billion dollars, in 2025, in a total of around USD 24 billion, according to the Chinese ambassador accredited in the country, Zhang Bin.
According to Angola Press News Agency, the diplomat, who was speaking on Wednesday, in Luanda, during a press conference that served to address Sino-African and Sino-Angolan relations, as well as the application of zero tariffs by the Chinese State, noted that the reduction in debt is due to the Angolan Government's continuous effort to amortize liabilities and renegotiate payment terms, allowing the release of revenue previously captive in escrow accounts.
The ambassador also mentioned that after more than six months, he believes the current debt tends to decrease to around US$11 billion. He recalled that the recent visit of the Angolan Finance Minister, Vera Daves de Sousa, to China allowed her counterpart to reach a consensus on debt services that satisfy the needs of both parties.
Discussions are ongoing about developing other forms of financing between the two Governments after the end of the current loan. Zhang Bin also highlighted efforts to enable Chinese banks to provide quotas or budgets to local banks for direct credits to local entities.
Chinese investment in Angola is significant, with over 600 companies operating in various sectors. The turnover between Angola and China in 2025 experienced a slight drop, amounting to approximately 20.88 billion dollars, largely due to the volatility of oil prices on the international market. In agriculture, rice produced with Chinese investment represents 1.4% of Angola's total national production, and in aquaculture, Chinese investment accounts for 1.3% of all local production.
Since May 1st this year, China has applied a zero-tariff policy on 98% of imports from 53 African countries with diplomatic relations, including Angola. This policy will remain in force until 2028 and aims to diversify African exports and promote industrialization across the continent. The exemption from customs duties represents a milestone in Sino-Angolan relations and serves as an incentive for Angola to export agricultural products, processed minerals, and manufactured goods, facilitating economic diversification away from oil dependence.
Bilateral cooperation between Angola and China is a critical strategic partnership in Africa, marked by strong commercial links that focus on the export of Angolan crude oil and the import of Chinese manufactured products and equipment.
