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China commits R190 billion to S Africa’s economy

Xin Jinping and Cyril Ramaphosa
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The Chinese government has committed over R190 billion to South Africa’s economy. This emerged during a state visit by Chinese President Xi Jinping in Pretoria on Tuesday afternoon.

He met President Cyril Ramaphosa who’s been going all out to attract investment.

The bulk of the money will go towards infrastructure development projects, with Eskom scooping a loan agreement of almost R30 billion.

The Chinese president is no stranger to South Africa as he makes his third official state visit to the country. China is stepping up its engagements with the global community, especially in the face of a looming trade war with the United States.

Jinping has already been to Senegal and Rwanda with the promise of more investment into the country.

The two countries signed a number of economic and investment agreements.  From visa free exemption regimes in certain categories to increased bilateral trade. Something China says is an indication of elevated relations.

The two countries will attend the BRICS summit taking place in Johannesburg this week. They have lauded their common approach to many issues.

In the past 20 years China SA relations have developed from a mere partnership to a comprehensive strategic partnership.

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