President Cyril Ramaphosa says China\u2019s Xi Jinping has committed to invest $14.7 billion in South Africa.<\/p>\n
The Chinese president is on his third state visit to South Africa ahead of the Brics Summiton Wednesday<\/span><\/span>.<\/p>\n A number of agreements have been struck between the two countries which include deals signed by Eskom and Transnet.<\/p>\n Ramaphosa has welcomed the investment commitments, saying China is a strategic partner of South Africa.<\/p>\n \u201cWe\u2019ve signed as you have witnessed several agreements and memorandums of understanding that intended to further deepen our relations, including investment commitments that have been struck to the value of $14.7 billion.\u201d<\/p>\n Chinese economy in 2016 was pegged at US$21.4 trillion and trade wise most of South Africa’s imports go to China.<\/p>\n South Africa’s trade and industry minister Rob Davis told eNCA\u00a0on Tuesday<\/span><\/span>\u00a0that the best thing about Chinese investment was that there was instant follow up to every investment pledge as well as tangible results.<\/p>\n Davis disclosed that Beijing Auto Works and Hisense were set to open manufacturing plants in South Africa.<\/p>\n Cash-strapped state-owned power utility, Eskom has secured a US$2.5 billion from China Development Bank in line with the investment engagement between the two nations.<\/p>\n Among the other agreements signed in Pretoria today during a pre-BRICS press conference between Chinese President Xi Jinping and President Ramaphosa was that of simpler visa requirements for some travellers between the two countries.\/EWN\/eNCA<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" President Cyril Ramaphosa says China\u2019s Xi Jinping has committed to invest $14.7 billion in South Africa. The Chinese president is on his third state visit to South Africa ahead of the Brics Summiton Wednesday. A number of agreements have been struck between the two countries which include deals signed by Eskom and Transnet. Ramaphosa has […]<\/p>\n","protected":false},"author":3,"featured_media":5279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[10,2],"tags":[],"_links":{"self":[{"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/posts\/5278"}],"collection":[{"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5278"}],"version-history":[{"count":2,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/posts\/5278\/revisions"}],"predecessor-version":[{"id":5281,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/posts\/5278\/revisions\/5281"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=\/wp\/v2\/media\/5279"}],"wp:attachment":[{"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5278"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/newsdayzambia.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}