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Chinese enterprises make significant contribution to SA’s economy

According to a report on Chinese enterprises in South Africa, China’s investment in SA is significant and has accumulated to about US$13bn and hired about 24,000 local employees.

The report, published by South Africa-China Economic and Trade Association (SACETA) in 2015, shows a significant contribution that the Chinese enterprises are doing in the country.

According to the report, published on the association’s official website, there are over 300 Chinese enterprises in SA; about 140 of them are large and medium-sized firms.

They are involved in finance, mining, telecommunications, household appliances, automobiles, construction machinery, real estate, logistics, etc.

The report said that the Chinese enterprises are now working closely with their South African partners to deepen collaboration.

It cited infrastructure building, special economic zones and industrial parks development, equipment manufacturing, production capacity, energy and finance as some of the collaborations.

Chinese Ambassador to South Africa Tian Xuejun was quoted as saying that the Chinese enterprises are working hard to maintain investment and production, and keep jobs in South Africa.

“Over the years, the Chinese enterprises have devoted themselves to South Africa’s economic and social development. Both sides are energetically pushing forward the reindustrialisation and the social and economic transformation of South Africa,” quoted Xuejun.

Chinese investment has improved the living standards of South Africans by improving the level of science and technology, the development of local economies and job opportunities, according to a report.

Cheng Jun, chairman of SACETA and CEO of the Bank of China in Johannesburg, said that the Chinese enterprises have integrated themselves well with local communities and improved people’s livelihood.

Mogokare Seleke, director-general of South Africa’s Department of Public Enterprises, said the report is a fair assessment of the South African environment.

Seleke urged the Chinese to consider investing in rural areas, saying that “there are untapped opportunities in the countryside.”

 

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