NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Friday, December 9, 2016

A report released Thursday shows that Chinese enterprises in South Africa are making positive contributions to the socio-economic well-being of the country.

According to the report on the development of Chinese enterprises in South Africa unveiled by the South Africa-China Economic and Trade Association, there are more than 300 Chinese companies including representative offices in South Africa and among them about 140 are large and medium-sized companies.

The Chinese companies have been involved in such fields as real estate, mining, automobiles, finance, construction, textile, logistics and household appliances, the report said.

By the end of 2015, Chinese investment in South Africa reached about 13 billion U.S. dollars. The Chinese enterprises employed more than 26,000 people in South Africa, of whom 24,000 were locals, the report said.

“Over the years, the Chinese enterprises have devoted themselves to South Africa’s economic and social development,” Chinese Ambassador to South Africa Tian Xuejun said at a ceremony to launch the report.

The Chinese companies “have strictly abided by laws and regulations, maintained sound relations with local communities, earnestly fulfilled their social responsibilities and been actively engaged in the development of South Africa’s education, health and social charity,” Tian said.