Since China put forward the Belt and Road Initiative in 2013, what achievements have been reached in Sino-South African cooperation in this regard? What are the future plans on strengthening bilateral partnerships under the initiative?
With a well-developed economy, South Africa is one of the most attractive destinations of tourism and investment from China. It is also a country of choice for China’s international production capacity cooperation program, and a foothold to align the African continent with the Belt and Road Initiative. Bilateral cooperation to promote connectivity of policy, infrastructure, trade, finance and people has achieved fruitful outcomes.
As for policy coordination, state leaders of both countries and personnel at all levels maintain close and frequent exchanges. As comprehensive strategic partners, China and South Africa share a similar stance on international affairs and important issues like the 2030 Agenda for Sustainable Development and climate change. The two countries keep close coordination and cooperation in international organizations and multilateral platforms like the UN, G20, BRICS and FOCAC in an effort to improve global governance and safeguard the common interests of developing countries. Our bilateral cooperation in this regard also contributes to African unity, economic integration and the shared development of China and Africa.
As for connectivity of infrastructure and facilities, there are several direct flights and shipping lanes between the two countries. Locomotives made in China have been exported to South Africa on a large scale. Chinese IT firms like Huawei and ZTE have been actively participating in the construction of telecommunications infrastructure in South Africa.
As for unimpeded trade, China has been the largest trade partner of South Africa for eight consecutive years, and South Africa has been China’s largest trade partner in Africa for seven years in a row. During this period, bilateral trade took up about a quarter of the total ChinaAfrica trade.
As for financial integration, South Africa attracts the most Chinese investment in Africa. Bilateral financial cooperation is fruitful and beneficial. The ICBC, CCB, BOC, China Development Bank and CADFund have set up branches or launched businesses in South Africa. China’s first bank for renminbi settlement businesses in Africa is located in South Africa. Renminbi has been made South Africa’s reserve currency. Offshore renminbi-bonds have been issued in South Africa.
On the topic of closer people-to-people ties, Chinese has been included in the national education system of South Africa. The China-South Africa High-Level People-to-People Exchange Mechanism was established earlier. The Year of South Africa was celebrated in China in 2014 and the Year of China was held in South Africa the following year.
South Africa has the most Chinese sister cities and Confucius Institutes and classrooms, and receives the most overseas Chinese and Chinese students.
South Africa approves of the Belt and Road Initiative and expects more cooperation under this mechanism. With shared interests and complementary economies, the two countries could further enhance win-win cooperation in sectors of tourism, agriculture, industry, maritime economy, infrastructure, education, human resources, medical service and technology.