China`s economic miracle is a combination of several factors, including globalization, openness and cooperation, a prominent Chinese national stated.
Speaking during a high-level business talk in Dar es Salaam, board member, deputy secretary and member of the party committee at Moutai Group, Wang Yan, said 40 years ago, China was poorer than most African countries at present.
The business talk, which was graced by former Prime Minister, Mizengo Pinda held in Dar es Salaam, was part of the `Cultural Moutai, Colourful Guizhou` – China Kweichow Moutai Belt and Road Branding Initiative in Tanzania.`
The business talks also coincided with the launch of Moutai liquor in Tanzania.
`Africa is still developing. China`s development miracle from being the poorest country in the world to today has showcased the profound power globalization, openness and cooperation have over people`s lives……I remember vividly that over 40 years ago, the income of these families was extremely low and televisions were not yet popular,` he said.
He said national brands such as Hitach, Panasonic, Cocacola and Renmao began to advertise and promote their business cultures in mainland China.
To date, the companies have not only changed Chinese people`s way of life, but they have also gained great commercial success by contributing to China`s development.
`As Maotai, we choose Africa for both the beautiful past between China and Africa and the bright future lie ahead, ` he said. On the Maotai liquor, he said as China`s most influential brand comes top in various international lists such as WPP and Kantar Millward Brown, Forbes and Financial Times.
`Just like in China , people here love good liquor or wine because they bring happiness. We also hope that arrival of Moutai would bring more joy and happiness to the people in Tanzania,` he said.
In 2018, the revenue of Moutai Group hit Tshs.28.9 trillion ($12.6 billion), net profit reached Tshs.13.3 trillion ($5.6 billion). The total assets exceeded Tshs.69 trillion ($30 billion)
The event comes at a time when China is marking the 6th anniversary of its Belt and Road Initiative. With the growing number of model projects of China-Africa cooperation, as an active participant and supporter, Africa has rapidly become a demonstration zone for the Belt and Road Initiative.
The Belt and Road Initiative is a development strategy adopted by Chinese government involving infrastructure development and investments in 152 countries and international organizations in Europe, Asia, Middle East, America and Africa.