This year will mark the 10th anniversary of the establishment of the two countries' diplomatic relations.
Bilateral trade has developed over the past decade from a negligible figure to $9.86 billion in 2006, according to statistics of the Ministry of Commerce. China is now South Africa's second largest source of imports after Germany and its sixth largest export market.
"The trade imbalance between two countries has been largely improved," said Davies, adding South Africa's exports to China grew much faster than imports from China last year.
While boosting investments in China, South Africa is also urgently looking for more Chinese investment, particularly in the infrastructure and raw material processing sectors.
"We would like to have more value added to our mining products before exporting them," Davies said.
Talks have been on with some Chinese companies including Sinopec and Sinosteel for cooperation toward that end.
(China Daily March 20, 2008)
