Advertise with

SA, China relations mutually beneficial
SA, China relations mutually beneficial

SA, China relations mutually beneficial


Fin24 - Oct 26th 2012, 07:39

Johannesburg - Relations between South Africa and China are of mutual economic benefit, trade and industry director general Lionel October said on Thursday.

"The current position is of a win-win economic benefit.... This will further deepen relations between the two countries," October told an investment seminar in Shanghai, China, according to a statement issued by his department.

He said China's investment in Africa had "significantly" grown.

"In South Africa alone, Chinese manufacturer First Automobile Works has invested $100m [about R870.5m] to build a vehicle assembly plant in Coega.

"So far, the project has produced 1000 jobs, with some of the vehicles destined... for other African countries."

A memorandum of understanding signed this week between the Beijing International Brand Management Centre and Trade and Investment SA, would help South African enterprises gain access to the Chinese market, October said.

At least 68 South African companies from different industries were represented at exhibitions at the seminar. 

Related News

Alibaba set for new era as flamboyant Jack Ma departs
11/09/2019 - 09:33
Alibaba chair Jack Ma has stepped down from the Chinese group, leaving his handpicked successor a daunting task of steering the $460bn juggernaut at a time when the market for its core e-commerce business has slowed sharply.

Alibaba results beat estimates on cloud, e-commerce growth
19/08/2019 - 14:08
China’s Alibaba Group Holding Ltd reported better-than-expected quarterly revenue and profit, aided by growth in its e-commerce and cloud computing businesses.

Nestlé and Starbucks tie-up heads to China
08/08/2019 - 09:31
Nestlé plans to introduce its first range of Starbucks-branded products in China, as part of a global tie-up that will help bolster the Swiss company’s proprietary Nespresso capsules in one of its fastest-growing markets.

Boost for SA's economy as China lifts its beef ban
07/08/2019 - 09:10
Within one month of the meeting between President Cyril Ramaphosa and President Xi Jinping at the G20, China has announced that it is lifting the ban on South African beef exports to China. This will be a major boost to South Africa’s economy given that China is the largest consuming market for South African beef and related products.

Swine fever epidemic may slash China's pig herd by half
30/07/2019 - 10:52
China’s pig herd could halve by the end of 2019 from a year earlier as an epidemic of African swine fever sweeps through the world’s top pork producer, analysts at Dutch bank Rabobank forecast.