Polokwane: Limpopo Premier Cassel Mathale, MEC for Economic Development, Environment and Tourism, Pinkie Kekana, Agriculture MEC Jacob Marule, Transport MEC Pitsi Moloto have returned [early December 2012] from the Limpopo mission to South Korea and China. During the mission the Limpopo delegation had the opportunity to visit various areas of interest in the two countries with the aim to gain insight into their operations. The premier also paid a visit to the Governor of the Henan Province to strengthen relations between the two provinces.
Johannesburg: It will probably come as little surprise to anyone who has seen the amount of Chinese-made clothes, electronics or whatever piled high in our shops that the world’s most-populous country has become our country’s largest trading partner. Trade between China and South Africa has grown to such an extent that it is now well ahead of traditional leading trade partners such as Japan, America or Germany. In an interview with The New Age, Chinese ambassador Xuejun Tian said many observers and academics believe that trade and economic cooperation with China has helped South Africa to cope with the global financial crisis.
Johannesburg: South Africa plans to boost links between Africa and its partners in the Brazil, Russia, India and China alliance at a landmark summit, which will be held in this country in March, Xavier Carim, deputy director general at the Department of Trade and Industry, told IPS. “The summit theme is BRICS and Africa – a partnership for development, integration and industrialisation,” explained Carim of the meeting to be held in Durban, South Africa. “We want to align our interests to support the integration agenda in Africa, not just to focus on access to resources.”
Chinese Foreign Direct Investment (FDI) into Africa is on the rise and Ethiopia is at the forefront of this trend. On request of the Government, the World Bank surveyed 69 Chinese enterprises doing business in Ethiopia with a 95-question survey in May/June 2012. The survey covered various aspects of the foreign direct investment climate in Ethiopia, including infrastructure, sales and supplies, land, crime, competition, finance, human resources, and questions about general opportunities and constraints for doing business in Ethiopia.
Accra: Even though China has overtaken India among the emerging economies in the race to invest in Ghana, Chinese nationals have become a problem for the Ghanaian authorities because of their involvement in illegal mining and trading across the country. Indian investors have shunned such activities and have proved to be welcome guests.
Submitted by admin on Wed, 19/12/2012 - 10:16
By promoting investment abroad, China's 1999 Go Out Policy marked a transition point in the country's economic development. In the mineral sector, the policy unleashed a flood of money much of which seems to have been wasted on ill-conceived and un-economic projects that have harmed China's reputation. CITIC Pacific's Sino Iron project in Western Australia is two years behind schedule and a mine that was expected to cost $1.9 billion has blown out to a staggering $7.1 billion.
Submitted by admin on Wed, 19/12/2012 - 09:21
London: Chris Alden believes China has proved a catalyst to development in Africa by smashing the Western donor stranglehold on the continent. The 53-year-old American academic, who is one of the leading global experts on the China-Africa relationship, says the world's second-largest economy's straightforward approach to investment without any ideological ties has proved a breath of fresh air. "China has reinvigorated the debate on development and brought practical real experience to the continent, and demonstrated they can transform themselves not in six generations or even one generation, but now," he says.
Port Louis: The Attorney-General, Mr Y. Varma opened the Third Legal Forum on China-Africa Cooperation (FOCAC) yesterday, at the Grand Baie International Conference Centre in presence of Chief Justice Sik Yuen and other eminent personalities.The forum is being attended by some 250 participants from the legal profession from Africa, China and Mauritius. In his speech, Mr Varma stated that the Forum should draw up standards commonly accepted by all partners and foster legal co-operation among them. This partnership should aim at promoting the rule of law and building contacts between legal communities in China and Africa.
Maputo: Trade between Mozambique and China was worth 1.1 billion US dollars between January and October this year, according to Cao Jiachang, the deputy general director of the Africa and West Asian Affairs Department of the Chinese Trade Ministry. Speaking to Mozambican reporters in Beijing, Cao said this was an increase of 46 per cent compared with the same period in 2011.
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