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South African President Cyril Ramaphosa (l) and Alibaba chairman Jack Ma (r) Photo: VCG/VCG via Getty Images

Xi Jinping and his colleagues spent the last week feting the leaders from 53 of 54 African nations at the Forum of China-Africa Cooperation (FOCAC) summit.

What's happening: Xi promised another $60 billion in financing to Africa along with eight initiatives for PRC-Africa cooperation. The $60 billion amount was the same as promised in 2015, but with changes to the composition, as Yun Sun wrote in Brookings Institution note.

The volume and composition of China's 2018 FOCAC financial pledges to Africa indicates China's commitment remains strong, Sun writes, but it also appears to be "more cautious and calculating" than past pledges.

What we're hearing: South African President Cyril Ramaphosa spoke to reporters after the summit, telling them China's relationship with Africa has "now entered a golden age," according to Caixin.

Quick take: Much of Western media coverage about the summit has been critical, but we shouldn't forget that the African leaders have agency. Plus, there doesn't seem to be a better offer/plan for them coming from the West.

Go deeper

Capitol review panel recommends more police, mobile fencing

Photo: Olivier Douliery/AFP via Getty Images

A panel appointed by Congress to review security measures at the Capitol is recommending several changes, including mobile fencing and a bigger Capitol police force, to safeguard the area after a riotous mob breached the building on Jan 6.

Why it matters: Law enforcement officials have warned there could be new plots to attack the area and target lawmakers, including during a speech President Biden is expected to give to a joint session of Congress.

Financial fallout from the Texas deep freeze

Illustration: Annelise Capossela/Axios

Texas has thawed out after an Arctic freeze last month threw the state into a power crisis. But the financial turmoil from power grid shock is just starting to take shape.

Why it matters: In total, electricity companies are billions of dollars short on the post-storm payments they now owe to the state's grid operator. There's no clear path for how they will pay — something being watched closely across the country as extreme weather events become more common.

U.S. Chamber decides against political ban for Capitol insurrection

A pedestrian passes the U.S. Chamber of Commerce headquarters as it undergoes renovation. Photo: Andrew Harrer/Bloomberg via Getty Images

The U.S. Chamber of Commerce revealed Friday it won't withhold political donations from lawmakers who simply voted against certifying the presidential election results and instead decide on a case-by-case basis.

Why it matters: The Chamber is the marquee entity representing businesses and their interests in Washington. Its memo, obtained exclusively by Axios, could set the tone for businesses debating how to handle their candidate and PAC spending following the Jan. 6 Capitol attack.