President Cyril Ramaphosa visited tech giants in Shenzhen. Picture: GCIS
With China among the most technologically advanced countries in the world, President Cyril Ramaphosa visited Guangdong Province during his visit to the country to champion South Africa’s economic diplomacy and draw inspiration from the knowledge that has made Shenzhen a technology, innovation and growth hub.
The President participated at the Shenzhen Business Roundtable with leading technology industry titans during South Africa’s investment drive.
China is South Africa’s largest trading partner globally, and South Africa is China’s number one trading partner in Africa.
BYD ,Tencent Corporation , Huawei , Shenzhen Energy Group were among the companies at the Roundtable where Ramaphosa outlined South Africa’s commitment to attract investments by reviewing regulations that create opportunities for growth and development.
Ramaphosa said South Africa has introduced policies to promote the development of the electric vehicle industry in South Africa.
With a pipeline of 130 confirmed private sector energy projects that will produce approximately 22,500 megawatts of electricity, South Africa aims to be the hub of manufacturing and development that serves other markets due to its advantageous location.
Ramaphosa also toured the headquarters of BYD and Huawei led by its respective founders Wang Chuanfu and Ren Zhengfei.
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During his Shenzhen visit, Ramaphosa was joined by ministers of trade, industry and competition, electricity and energy, higher education and public works and infrastructure and the premier of the Eastern Cape province.
Ramaphosa invited the political leadership of Guandong province to reciprocate a business delegation to South Africa to realise mutual investment opportunities.
Shenzhen is a technology hub, sometimes called China’s Silicon Valley. The city’s entrepreneurial, innovative, and competitive culture has resulted in it being home to numerous small manufacturers and software companies.
Shenzhen, which is also known as “Pengcheng” (the City of Giant Eagle), is a coastal city in South China, adjoining Hong Kong.
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