More than 50% increase! China-South Africa economic and trade cooperation deserves more expectations

"Those who share the same aspirations, do not rely on mountains and seas." The BRICS countries have maintained a good momentum of cooperation in the economic and trade field in recent years, and contributed to the "BRICS plan" for improving global economic governance and promoting world economic recovery. It has become a leader in regional and even global economic and trade. an important force for growth. As an important participant, contributor and beneficiary of the BRICS cooperation mechanism, Nam Phi is regarded as the "leading goose" and "bridgehead" for the development of cooperation between the BRICS countries including China and the African continent. With the deepening of China-South Africa comprehensive strategic partnership, the scale of bilateral economic and trade cooperation has expanded rapidly, the forms have become increasingly diverse, and the level has continued to improve. South Africa has gradually become a model of solidarity and cooperation between China, Africa and even developing countries.

Unimpeded trade is advancing by leaps and bounds

China has been South Africa's largest trading partner for 13 consecutive years since 2009, and South Africa has been China's largest trading partner in Africa for 12 consecutive years since 2010. In recent years, high-quality agricultural products such as South African beef, citrus, red wine, oysters and Rooibos have been exported to China smoothly, and their high-quality products and services have been fully displayed in the Chinese market through large exhibition platforms such as the China International Import Expo, Canton Fair and China-Africa Economic and Trade Expo. Last year, China and South Africa signed agreements on the export of South African citrus and fresh pears to China, laying a solid foundation for the further expansion of South African high-quality agricultural products to China. Even under the "headwind" of the new crown pneumonia epidemic, the bilateral trade between China and South Africa has successfully achieved a "contrarian rise". Last year, the total trade volume between China and South Africa reached US$54.35 billion, a year-on-year increase of 50.7%, the highest level since 2015, accounting for more than one-fifth of the total trade volume between China and Africa. Among them, South Africa's exports to China were US$33.23 billion, a year-on-year increase of 59.6%. China-South Africa trade has maintained a good momentum of growth. It is estimated that China's imports from South Africa are expected to exceed 100 billion US dollars in the next three years.

Investment drives fruitful results

South Africa has become one of the largest destinations for Chinese enterprises to invest in Africa. As of the end of last year, China's cumulative investment in South Africa exceeded 25 billion US dollars, and there were more than 200 Chinese-funded enterprises and institutions registered with the Chinese Embassy in South Africa, creating more than 400,000 local jobs. In the field of energy, Longyuan South Africa's Dea wind power project has met the electricity demand of 85,000 local households; Goldwind introduced advanced renewable energy technology to South Africa. In the field of communications, Huawei South Africa has now become an important partner of major telecom operators in South Africa in terms of 5G, making positive contributions to the development of 5G in South Africa; China Telecom has laid more than 1,100 kilometers of fiber optic cables in South Africa. In the financial field, China Development Bank, Bank of China, Industrial and Commercial Bank of China, China Construction Bank and other Chinese banks actively raised funds to support various investment projects and promote the economic development of South Africa. In the field of manufacturing, BAIC and FAW have invested and set up factories in the Cooha Development Zone, Port Elizabeth; Hisense, Skyworth and SVA and other products cover various fields such as household appliances, medical equipment and intelligent transportation, providing more cost-effective products for the people of South Africa choose.

Capacity building in the ascendant

While deepening cooperation in trade and investment with South Africa, China is actively conducting capacity building exchanges and dialogues, providing education and training opportunities for South African government officials and various technical talents. Accelerate the construction of the vocational training center project in South China, help local youth groups improve their employment skills, and enhance their "hematopoietic function" for independent development. As of the end of last year, more than 4,000 South African students have been invited to China or online to participate in multilateral and bilateral training and academic degree programs, covering various fields such as economy, trade, health, tourism and agriculture. In addition, we strongly support Chinese-funded enterprises in South Africa to actively fulfill their social responsibilities, create a large number of local jobs and cultivate high-quality skilled talents. On April 14, the recruitment conference of Chinese-funded enterprises was successfully held. The South China Economic and Trade Association signed a cooperation agreement with the Training Department of the Ministry of Higher Education of South Africa. More than 100 Chinese-funded enterprises promised to provide 20,000 direct jobs in the next three years.

The current century of changes and the epidemic of the century are intertwined and superimposed. As emerging markets and major developing countries, the BRICS countries shoulder the historical mission of improving people's well-being at home and promoting world peace and development. President Xi Jinping put forward ardent hope for strengthening BRICS cooperation, emphasizing the need to adhere to mutual benefit and win-win results, strengthen economic cooperation, and expand cooperation in trade and investment, scientific and technological innovation, green and low carbon and other fields. China is willing to work with South Africa to uphold the "BRICS spirit", strengthen the alignment of development strategies, innovate and optimize cooperation methods under the "three-wheel drive" framework, and expand trade and investment, digital economy, green and low-carbon and supply in combination with the key areas of South Africa's economic recovery plan. Cooperation in areas such as chain security, promote the implementation of the "Nine Projects" of the Forum on China-Africa Cooperation in South Africa, and implement a series of achievements reached by the 12th BRICS Economic and Trade Ministers' Meeting, so that the cake of cooperation will become bigger and bigger and the power of progress The more they gather, the stronger they become, providing BRICS impetus for the stability of the global market and injecting BRICS strength into international development cooperation.

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