Home > Overseas Investment News > Ties with South Africa have global impact, Xi Jinping says
Ties with South Africa have global impact, Xi Jinping says
Brief:Chinese President Xi Jinping paid state visit to Africa, seeking to strengthen ties with African countries which can make a difference to the whole world.
Chinese President Xi Jinping arrived in South Africa on Wednesday for talks with President Jacob Zuma that are expected to focus on flagging investment and trade worth around $20 billion a year.
About 90 children and Grace Mugabe sang and spoke in Mandarin to the glamorous wife of the Chinese leader who said she was touched to be in Zimbabwe and to meet the children.
Finance Minister Patrick Chinamasa told reporters soon after Xi’s arrival that the two leaders would follow up on agreements signed when Mugabe visited China in August 2014.
HARARE, Nov. 27 (Xinhua) – Zimbabwe and Africa at large must move away from a donor dependency syndrome and instead seek knowledge and ideas that could help it develop its manufacturing sector and boost its economy, African scholar of Chinese descendant Fay Chung has said.
Zimbabweans are expecting to see the mega deals signed by Harare and China trickle down to the people in the grassroots and eventually change their lives for the better.
The trip, which comes upon the 35th anniversary of the establishment of China-Zimbabwe diplomatic relations, is Xi’s first to the African country and also the first state visit by a Chinese president to Zimbabwe since 1996. China and Zimbabwe boast a time-honored brotherly relationship that dates back to the former’s provision of substantial assistance for the latter’s struggle for national liberation and independence.
“Many Chinese business people… will interact with their local counterparts leading to more Chinese investment or joint ventures and business benefits to Zimbabwe”.
China’s Export and Import Bank signed an agreement to provide more than $1 billion for the 600 megawatt expansion of Hwange thermal power station, which will be undertaken by Chinese firm Sinohydro Corp.
However, according to the 2016 budget, Western countries are providing support to Zimbabwe to the tune of $180 Meanwhile Mr. Xi has left for South Africa where he will attend a summit on Africa China co-operation.
China’s trade with Africa is largely import-driven, with the world’s second-largest economy buying oil mostly from Nigeria, Angola, Equatorial Guinea, Ghana, Cameroon, the Republic of Congo, Gabon, Uganda, South Sudan and Sudan, and feeding the demand for cheap Chinese products in these countries.
“The Summit is historic and will strengthen China-Africa unity and push China-Africa cooperation to a new height, thus writing a new chapter for China-Africa relations”, he said.
China has been one of Zimbabwe’s biggest supporters.

Source: Soure:Ameri Publications

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