China becomes S Africa's biggest export destination
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Xinhua, August 21, 2011
China became South Africa's top export destination at the end of 2010 due to strengthened bilateral trade links, according to South African ambassador Bheki Langa.
Investment between the two countries surged to nearly seven billion U.S. dollars at the end of last year, the ambassador told Xinhua in a recent interview.
China Customs statistics show that trade between China and South Africa totaled 25.6 billion U.S. dollars throughout 2010. Imports from South Africa reached 14.8 billion U.S. dollars during the same period.
Langa said what South Africa exported to China were mainly primary products and they hope to export products with more added-value to the Chinese market in future.
South Africa's abundant mineral resources will provide good opportunities for potential investors in China, he added.
South Africa has grown into a regional hub from where Chinese investors can go further into the continent. China and South Africa have become the largest two investors in Africa, according to the ambassador.
Chinese investors played a positive role in creating production capacity in South African industries. We welcome and cherish Chinese investors and believe this partnership would benefit both economies, said Langa.
