Jiang said China-Africa cooperation on industrialization, trade, and infrastructure will be the major topic during the meeting. "Resources for our cooperation are not to be spent on any vanity projects but in places where they count the most", he said.
Xi said China would set up a China-Africa peace and security fund and that a total of 50 "security assistance" programs will be carried out, such as United Nations peacekeeping missions, fighting piracy and combating terrorism.
"It's hard to think of any country in Africa that has not been touched by China", he said, adding that China rejects the claim of "debt-trap diplomacy".
According to data from John Hopkins University's China Africa Research Initiative, China has already loaned around $125 billion to the continent between 2000 and 2016.
Ramaphosa said Africa embraced China's "Betl and Road Initiative", an ambitious plan by China to boost trade and stimulate economic growth across Asia and beyond.
Focac will bring together 52 African countries, the African Union (AU) Commission and the People's Republic of China, as equal partners in fostering greater unity and cooperation.
Standard Bank represents the biggest Chinese investment in Africa to date, after state-owned Industrial and Commerce Bank of China Ltd. agreed in 2007 to buy 20 percent of the African lender for $5.5 billion.
The number of Chinese tourists to Africa is rapidly growing as African countries are trying to attract more visitors from China.
Abiy said China is a reliable friend in the course of Ethiopia's development, and China's precious assistance has always been crucial to his country's economic restructuring and achievements.
On trade facilitation, Xi said China will increase imports, especially non-resource products, from Africa and support African countries in participating in China International Import Expo.
Over the past 18 years, FOCAC has become a significant platform for collective dialogue between China and African countries and a leading mechanism for worldwide ties with Africa and also South-South cooperation.
Ramaphosa said the Sino-Africa relationship was "premised on the right of African people to determine their own future [towards] an Africa we want, where the guns would have been silenced and all its people live in peace an security".
Chinese state media has been aggressively explaining why such investment is good for the continent - and positioning Xi as the champion of the African people. "Is China unfairly exploiting Africa like the others before it?"
Liu said China-Africa people-to-people exchanges should pay special attention to the needs of young Africans since they account for a large percentage of the population and face challenges such as unemployment.
Take Sri Lanka, which last year had no choice but to grant China a 99-year lease for a Belt and Road Initiative port, after it failed to attract enough business to make its loan payments.