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South Africa favored for foreign ventures

Updated: 2014-12-07 16:08
By Zhao Yinan (China Daily Africa)

 South Africa favored for foreign ventures

President Xi Jinping and his South African counterpart Jacob Zuma at the Great Hall of the People in Beijing, on Dec 4. Xinhua

Premier Li Keqiang told visiting South Africa President Jacob Zuma his country is China's preferred destination for overseas investment on Dec 4.

He said China encourages large-scale equipment manufacturers to get involved in the industrialization of South Africa and will take part in building economic zones and industrial parks there.

He also called for cooperation in maritime and nuclear power development as well as finance.

The countries will promote connectivity and regional integration on the continent with China-made airliners through a joint-venture company expected to set up soon, Li said, adding that China will continue its efforts to combat Ebola in West Africa.

Zuma said African countries welcome China's role in the construction of infrastructure to push forward regional integration.

He said South Africa is willing to cooperate in political, trade, maritime economy and cultural exchanges.

Zuma arrived in China on Dec 3 for a 4-day state visit, during which he also met President Xi Jinping, the visit culminating in the signing of 10 strategic agreements

Trade between South Africa and China has grown from $11 billion in 2008 to $24 billion last year.

China is South Africa's leading trading partner.

The agreements include the strengthening of bilateral relations, deepening areas of cooperation, setting requirements for the export and import of products, promoting investment and concluding financing deals.

Xi and Zuma reviewed the bilateral relations between the two nations to ensure that the strategic relationship is strengthened and development in South Africa and Africa is prioritized.



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