China-sa partnership bears fruit
China’s ambassador to SA, Lin Songtian, on the historic relations between the two countries
This year marks the 20th anniversary of the China-sa diplomatic relations. Thanks to our joint efforts over the past two decades, the China-sa relations now enjoy four major advantages, namely political mutual trust, mutually beneficial economic co-operation and trade, people-to-people friendship, and co-operation on international affairs.
Driven by the four pillars, namely the Forum on China-africa Co-operation (Focac), Brics, the
Belt & Road Initiative, and Southsouth Co-operation, China-sa cooperation has yielded fruitful results across the board, bringing concrete benefits to our two countries and two peoples, making China-sa relations a great example of unity and co-operation for all of the developing countries at large.
China has for nine consecutive years remained SA’S largest trading partner, contributing to SA’S economic and social development. In 2017, China-sa trade registered Us$39.17bn, marking a 25-fold increase from the beginning of our diplomatic ties. SA has for eight consecutive years emained China’s largest trading partner in Africa, and has been a major African destination for Chinese exports such as textiles, light industrial products, and small commodities.
China is also a major market for SA export of mineral resources such as chromium and manganese. SA exports of beef, red wine, rooibos tea, apple and other agricultural products to China has also been growing rapidly. SA is the first African country to export beef to China.
SA has become the number one destination for Chinese direct investment in Africa, creating tremendous job opportunities for the local population. According to available statistics, by the end of 2017, China had in accumulative terms invested over $25bn in SA, equivalent to a 250-fold increase from the beginning of our diplomatic relations. SA is the biggest recipient of Chinese investment in Africa. There are over 13,000 Chinese invested companies in SA, creating over 400,000 jobs for the local population.
China-sa financial co-operation
What it means: For 20 years China-sa relations have built a strong partnership that puts China at the heart of Africa’s development