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Multibillion-rand SA-China trade relationship keeps on growing

Business News 1 year ago

China’s investment and project financing in South Africa has reached more than $25 billion, which has created over 400,000 jobs for locals.


11 Dec 2019
PREMIUM!
Multibillion-rand SA-China trade relationship keeps on growing

Ambassador Lin Songtian. Picture: Jonisayi Maromo / ANA

With the South Africa-China trade volume having last year reached $43.55 billion (about R642.6 billion) – amounting to a 11.18% year-on-year increase – China has officially been South Africa’s largest trading partner for 10 consecutive years. Addressing a packed Chinese enterprise job fair in Midrand aimed at linking young South African job seekers with potential employers, Chinese ambassador Lin Songtian yesterday said a surge in trade between the two countries – now accounting for a quarter of the total volume of China-Africa trade – was 27 times higher since the establishment of diplomatic relations in 1998. Songtian said China’s investment...

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