BIZCHINA / Center
Sino-South Africa trade up 50%
By Diao Ying (China Daily)
Updated: 2007-01-30 10:12
When Kobus van der Wath, business director of the South Africa-China
Business Association (SACBA), came to China several years ago, he knew
few people, but he has seen that change dramatically as bilateral trade
between the two nations grows at about 50 percent per year.
Related readings:
Sino-Indian trade hits high
China-Africa trade links
China-EU trade hits US$272.3 billion in 2006
South African companies are active in mining, media, Internet and
technology, consulting and even consumer products in China. Among them
are MIH, the media giant that holds shares of Tencent, the largest
instant messaging community in China, and SABMiller plc, whose joint
venture in China, CR Snow Breweries, is now the largest brewer in China
by sales volume.
South Africa is the continent's largest trading partner with China,
accounting for one-fifth of the total. Bilateral trade between China and
South Africa amounted to $6.3 billion in 2005, up 42.4 percent
year-on-year. China, behind Germany, is the second-largest importer of
South African goods.
Of course the Chinese market, with its double-digit growth rate and 1.3
billion population, is appealing to South African investors. Investment
volume has surpassed $2 billion as more South African companies have
started their business operations.
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