China’s ‘One Belt, One Road’ initiative and its implications for Sino-African investment relations

Since 2000, China carried out the ‘Going Global Strategy’ to encourage outward investment. Now it is one of the world’s major capital-export countries and has concluded many bilateral investment treaties (BITs) with most of the countries in the world. The One Belt, One Road Initiative is the continuing and deepening of the ‘Going Global Strategy’. This study argues that Chinese investments in Africa in the past 10 years have increased rapidly, however it has not been proportionate to the increase in pace and volume of Chinese outward investment. As far as foreign investment is concerned, African states should take action in order to grasp the opportunities to benefit from China’s Belt and Road Initiative. Improving Sino-African BITs is a necessary and effective step to take, among others.