China invests big in Africa

Leading up to its imminent forum on China-Africa cooperation, China has pledged a whopping R660 billion ($50 billion), earmarked for various industrialisation projects in South Africa and Africa.

According to South Africa's Department of Trade and Industry (the dti), China will also supply 50 engineering experts proficient in the building and upgrading of industrial parks and the building of new power plants, and 200,000 industrial managers to train and develop local industrial managers. Some 40,000 training opportunities in various sectors will also be made available.

In a statement realeased by the dti, Zhang Xiangchen, vice minister of commerce of China, said:

"China-Africa industrialisation partnerships will be at the forefront of any development in the continent followed by agricultural activities. China will also increase investments in Africa especially in the Special Economic Zones and provide training in those sectors."

The Forum on China-Africa Cooperation (FOCAC) will be hosted in Johannesburg from 4 to 5 December 2015.

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