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The initiative offers development opportunities for Africa, in addition to experiences to learn from, especially for countries like Tanzania that are pursuing industrialization, Honest Prosper Ngowi, an economics professor at the Mzumbe University, Tanzania, said.

First, let us build a China-Africa community with a shared future to assume our joint responsibility. We could increase political and policy dialogue at various levels, enhance mutual understanding and support on issues involving each other's core interests and major concerns, and boost coordination on major international and regional issues. Such efforts will enable us to uphold the common interests of China and Africa as well as other developing countries.

With the economy on firm footing and fiscal revenue increasing, China lowered its fiscal deficit target for 2018 to 2.6 percent of GDP, down by 0.4 percentage points compared with 2017.

The future of China-Africa relations lies in our young people. Many of the measures in the eight initiatives I just outlined are designed to help young people in Africa. These measures will provide young Africans with more training and job opportunities and open up more space for their development. Last October, I wrote back to the exchange students of the Institute of South-South Cooperation and Development. Most of them were from Africa. I encouraged them to make the best of what they have learned, aim high, and keep working hard to promote China-Africa cooperation and South-South cooperation. I believe they have new roles to play and new accomplishments to make in this regard.

Under the current pricing mechanism, if international crude oil prices change by more than 50 yuan per tonne and remain at that level for 10 working days, the prices of refined oil products such as gasoline and diesel in China will be adjusted accordingly.