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Report on Chinese Enterprises in SA: USD13bn investment & 24k local jobs

(People's Daily Online SA)  Zhang Jiexian  2016-12-09 05:53


Report on Development of Chinese Enterprises in South Africa is officially released on Dec 8th, 2016 by South Africa-China Economic and Trade Association (SACETA). (Picture: People’s Daily Online / Zhang Jiexian)
 
Pretoria,
According to a report on Chinese enterprises in South Africa, China’s investment in SA has accumulated to about USD13bn by the end of 2015. Chinese enterprises in SA hired about 24,000 local employees, accounting for 91.56% of their total staffs.

Report on Development of Chinese Enterprises in South Africa was officially released on Thursday by South Africa-China Economic and Trade Association (SACETA), known as the non-governmental organization of Chinese enterprises in SA. Founded in 2011, SACETA has more than 120 members to date, and has set up its branches in Durban and in Cape Town.

The report documents a virtue history of Chinese enterprises in SA over past years by retrieving the full life cycle of Chinese investment back in 1990s from starting, to rooting, and to expanding into this market. It seeks to be a solution provider by tackling the challenges faced by Chinese enterprises in SA and giving out suggestions to both Chinese firms and South African government.



Chinese Ambassador to South Africa Xuejun Tian (L3), Chinese Commercial Counselor Rong Yansong (L2) Director-General of South African Department of Public Enterprises Mogokare Seleke (R1), Deputy Director General of South African Department of International Relations and Cooperation Anil Sooklal (R2), Chairman of SACETA Cheng Jun (L3) unveil the Report on Development of Chinese Enterprises in South Africa on Dec 8th, 2016. (Picture: People’s Daily Online / Zhang Jiexian)

According to the report, there are currently over 300 Chinese enterprises in SA, about 140 of them are large and medium-sized firms, involving in finance, mining, telecommunications, household appliances, automobiles, construction machinery, real estate, logistics, etc.

“Despite the current sluggish world economy and weak international commodity prices, Chinese enterprises are striving to keep investment, production and jobs in SA so as to consolidate local employment market.” said Tian Xuejun, Chinese Ambassador to SA, “They have already taken roots in the rainbow nation.”

Tian said that Chinese enterprises are now working closely with their South African partners to deepen collaboration in infrastructure building, special economic zones and industrial parks development, equipment manufacturing, production capacity, energy and finance, in order to take forward the re-industrialization and the social and economic transformation in SA.

Mogokare Richard Seleke, Director-General of Public Enterprises said that he expected more from the Chinese not to follow the route of the western companies which generally focus on plunder and exploitation, and to invest in Africans in terms of skill transfer, business opportunities and fair partnerships. He encouraged Chinese enterprises to work with their South African counterparts to tap the untapped opportunities in the nation.

Cheng Jun, Chairman of SACETA and President of Bank of China Johannesburg Branch, said the Report aims to better facilitate bilateral economic and trade relationship between China and SA by providing thorough analysis of investment environment in SA and the behavioral characteristics of Chinese firms in SA.