Business
14:07, 23-Jul-2018
Graphics: A quick look at China-South Africa economic cooperation
Updated
13:41, 26-Jul-2018
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China and South Africa have seen rapid and sound progress in bilateral relations since the two sides established diplomatic ties in 1998, with close economic cooperation blossoming in areas including trade, investment, research and development and much more.
Major Chinese companies that have invested in South Africa
The achievements of bilateral cooperation are best exemplified in the large projects that Chinese companies have invested in which benefit both sides.
Auto sector - Beijing Automobile International Corporation (BAIC)
BAIC, one of China’s largest auto manufacturers, will see its new factory in South Africa’s port Elizabeth put into production in a few days.
With an investment of 800 million US dollars from BAIC, the joint venture with South Africa’s Industrial Development Corp is the single-largest Chinese investment on the African continent.
File photo of the booth of Beijing Automotive Group (BAIC) during the 2016 Beijing auto show./Reuters Photo
File photo of the booth of Beijing Automotive Group (BAIC) during the 2016 Beijing auto show./Reuters Photo
With localized production, the plant will create 2,500 direct jobs and 10,500 indirect ones, and significantly benefit the development of South Africa’s auto industrial chain, consolidating its position as Africa’s No. 1 automaker.
At its full capacity, it will generate an industrial added value of 12.4 billion yuan for vehicles and 6.2 billion yuan for auto parts.
According to Xu Heyi, head of BAIC, more than 50 percent of the vehicles made in the plant will be exported, contributing to a trade volume of around 6.2 billion yuan to South Africa.
Telecom sector - Huawei
Reuters Photo
Reuters Photo
Huawei, China’s largest telecom company, just launched Africa’s first Huawei Innovation and Experience Center in the South Africa in 2016.
The center is intended to be the cornerstone of an innovative revolution in the local telecommunication sector and will showcase futuristic products and solutions that cover the industry.
It also signed a cooperation contract with the the country’s Department of Telecommunications and Postal Service (DTPS), promising to cultivate and train 1000 talents in the area for the South African market by 2021.
Home appliance sector - Hisense
Photo from Hisense company website
Photo from Hisense company website
Since entering the South African market in 1996, Hisense, one of China’s leading producers of home appliances, has become the country’s largest TVs seller.
The company just opened a new manufacturing base in Cape Town in 2017, creating another 500 jobs for local people.
Across the country, Hisense South Africa manufactures 1,200 fridges and 1,700 TVs per day, with its products exported to 14 African countries.
Medicine sector - Beijing Tong Ren Tang
VCG Photo
VCG Photo
Beijng Tong Ren Tang, a time-honored traditional traditional Chinese medicine brand, just invested 1.8 million US dollars to set up five Chinese medicine stores and clinics in South Africa in 2017.
It marks a milestone for traditional Chinese medicine in entering Africa.
Chinese medicine practitioners have also been invited to the country for free consultations and health seminars.