China premier’s landmark Zambia trip signals intensifying investment race

China’s Premier Li Qiang visits Zambia for the first time in 28 years, signalling intensified global competition for investment as the country emerges from a debt crisis and seeks renewed growth in mining and infrastructure (image source)

Zambia will host a Chinese premier for the first time in 28 years this week, a symbolic visit that underscores Beijing’s bid to deepen ties with the copper-rich nation as global partners including Western countries compete for an investment foothold in the recovering economy. The trip, led by Premier Li Qiang, comes as Zambia emerges from a bruising financial crisis and seeks new capital to support mining, infrastructure and industrial expansion.

Chinese officials have framed the engagement as part of a broader effort to secure commodity access and expand markets for Chinese exports, while positioning Zambia as a key participant in the Belt and Road Initiative. Analysts note that China is already Zambia’s largest official creditor, with approximately US$5.7 billion owed, making the debt relationship and restructuring outcomes pivotal to future cooperation. The renewed interest follows Zambia’s improved debt position under a more sustainable repayment plan, which has revived attention from multiple global partners and could unlock projects in transport, energy and industrial zones.

For Zambia, the stakes are substantial. Copper and associated minerals remain central to fiscal revenue and foreign exchange, and additional investment could accelerate efforts to expand mining output, modernise logistics and diversify the economy beyond extractives. The premier’s itinerary is expected to include high-level meetings and sectoral discussions aimed at consolidating existing partnerships and exploring new avenues of collaboration in mining, infrastructure and industrial development. The optics are equally important: after nearly three decades without a visit at this level, the trip signals renewed strategic importance and a recalibration of Zambia’s place in regional investment flows.

Western actors are also vying to re-establish influence through development financing, private capital and regulatory support, setting the stage for multi-actor competition that could benefit Zambia if managed transparently and competitively. Officials and observers say the challenge will be balancing speed with scrutiny — ensuring that major projects come with robust local content, skills transfer, and clear tariff or access rules that protect national interests while drawing in long-term capital.