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SA embraces opportunities of Chinese Capacity Cooperation

(People's Daily Online)  Sissy Zhang  2015-08-27 11:37

2015 South Africa - China Business Summit is held in Johannesburg, South Africa on August 26th, 2015. (Picture: People’s Daily Online / Zhang Jiexian)

 
JohannesburgAugust 27 (Peoples Daily Online“Industrial Capacity Cooperation is to let African countries know how to fish.” said Yang Peidong, the Chinese deputy consul general in Johannesburg on Wednesday at the South Africa - China Business Summit.
A delegation from China’s Shanxi Province, where possesses sufficient and quality manufacturing capacities, traveled to Johannesburg to attend the Summit, meeting with their counterparts of South African entrepreneurs from various sectors.
As Yang indicated, the Chinese government encourages Chinese businesses to invest inAfrica, transfer their technologies, bring more job opportunities, foreign investment, tax revenue and add value of primary products to local people, thus translating Africa's abundant natural and human resources into real development results.
 
Chinese consumer electronics company Hisense opened a R350-million factory in Atlantis,north of Cape Town in 2013, recruiting and training 1000 previously unemployed residents from the area. South African Economic Development Minister Ebrahim Patel, speaking at the opening, said the factory brings hope, “The burden of poverty and unemployment that ravaged the people of this area for years can be reversed. And nationally, it helps us to realize our vision of re-industrializing the South African economyand strengthening the manufacturing sector."
Further in Ethiopia, the first city ring road, the first highway, the first light rail, the first electrified railway, and the first wind power generation project are all financed by China.They have created good conditions for its foreign investment and the rapid growth of local economy and industries.
 
Daryl Swanepoel, the convener of ANC Progressive Business Forum that hosted the Summit, called for more Chinese businesses to be located in South Africa. “South Africa of today is one of the most sophisticated, diverse and promising emerging markets globally.”He mentioned a series of policies to attract foreign investors, including the Foreign Investment Grant, special economic zones, and a range of tax incentives.
During the Summit, around 100 entrepreneurs from the two countries take this opportunity to communicate freely and seek further business collaboration with each other.