http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 12.92Change: 0.02
R/$ = 11.47Change: -0.07
Au 1285.75 $/ozChange: -4.95
Pt 1257.00 $/ozChange: -14.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
May 21, 2008

China adresses imbalances as trade with SA soars

Back
 
Africa|Components|ICBC-Standard Bank|Industrial|Platinum|Projects|Resources|Africa|China|South Africa|United States|Agro-industrial Products|Building|Energy|Equipment|Financial Services|Higher Value-added Products|Platinum Products|Potential Products|Products|Services|Steel|Steel Products|Pneumonia|China-Africa Development Fund|Chinese Government|Environmental|Infrastructure|Ji Peiding|Rob Davies|China Africa
Africa|Components|Industrial|Platinum|Projects|Resources|Africa||Building|Energy|Equipment|Products|Services|Steel|||Environmental|Infrastructure||
africa-company|components|icbcstandard-bank|industrial|platinum|projects|resources|africa|china|south-africa|united-states|agroindustrial-products|building|energy|equipment|financial-services|higher-valueadded-products|platinum-products|potential-products|products|services|steel|steel-products|pneumonia|chinaafrica-development-fund|chinese-government|environmental|infrastructure|ji-peiding|rob-davies|china-africa
© Reuse this As China and South Africa celebrated ten years of diplomatic ties, trade cooperation was discussed, and a focus on addressing bilateral trade imbalances was emphasised.



South African Deputy Minister of Trade and Industry Dr Rob Davies noted that total trade between South Africa and China was up from R5,2-billion in 1998, to R72,9-billion in 2007. He also noted that imports from China into South Africa totalled about R49,1-billion, and exports from South Africa to China were about R23,7-billion.

"That poses some very significant challenges to us, to narrow the gap, and to increase exports of higher value-added products," Davies stated. Some of the potential products identified for export to China included motor vehicles and components, steel products, platinum products, various agro-industrial products as well as services such as financial services.

Former vice foreign Minister of China Ji Peiding said that it was inevitable that some undesirable elements emerge in the rapid growth of China-Africa cooperation.

"There are some bilateral trade imbalances - some African industries are challenged by Chinese imports, and some Chinese companies have failed to meet environmental and labour standards. To solve these problems the Chinese government has worked earnestly with the African side and taken proper measures to address them," Peiding said.

In an effort to balance China Africa trade, China had given zero-tariff treatment to some African export commodities, and set up a China-Africa Development Fund for capacity building in Africa.

The Chinese government had also "limited its export to South Africa to help improve the competitive edge of relevant industries in South Africa". The most notable was the limit of textile imports from China into South Africa. "The clothing and textile quota agreement has been significant and created a breathing space for restructure of the South African industry," reiterated Davies.

Achievements in Sino-African relations were said to have reached new heights through the ICBC-Standard Bank deal, which was an investment of some $5,46-billion.

"Such mutual investment has injected new vitality into our economies," affirmed Peiding. And indeed, Davies observed that in the current global economic downturn, South-South, or China-Africa relations, offered a buffer against the global financial crisis. It was no longer the case that "when the US caught a cold the rest of us got double pneumonia", he said.

China's growth was estimated by the International Monetary Fund to decline from 11,4%, to "a still impressive" 9,3%.

Peiding stated that China was willing to share its development experience with African countries. "The mature technologies and equipment that China has developed over the past decades are more suitable to the conditions of developing countries, and more economical and applicable for African countries," he added.

"There are some people accusing China of using its cooperation with Africa to plunder African energy and mineral resources. China will never accept such unwarranted accusations, and nor will African countries," stated Peiding, and noted the more than 900 infrastructure and public welfare projects on the African continent that China had been involved in.

"China-Africa cooperation creates conditions to transform our resources and technological advantages into development advantages, which is what win-win cooperation is all about," Peiding remarked.


Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 17 minutes ago A Competition Tribunal hearing into alleged cartel activity and price-fixing by several companies in the wire and wire products manufacturing industry was again postponed on Monday pending a decision by the Competition Appeal Court (CAC). Respondents Allens Meshco,...
Updated 42 minutes ago The share price of cement producer PPC fell by as much as 8.6% on Monday on the news that it expects its headline earnings per share (HEPS) for the six months to end March 31, to be as much as 45% lower than in the comparable period the year before. The company,...
Updated 53 minutes ago Consortium China North Rail (CNR) Rolling Stock South Africa (RSSA), led by Chinese locomotive manufacturer CNR Dalian, has ordered 232 MTU Series 4000 engines from Rolls-Royce Power Systems for State-owned Transnet Freight Rail’s (TFR’s) new freight locomotives. The...
More
 
 
Recent Research Reports
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
Real Economy Insight: Automotive 2014 (PDF Report)
This four-page brief covers key developments in the automotive industry over the past 12 months, including an overview of South Africa’s automotive market, trade figures, production and the policies influencing the sector.
 
 
 
 
 
This Week's Magazine
BRUCE BRADFORD The 3D printers have a clear upgrade path to eventually print in wood, ceramics and metal-alloys
Three-dimensional (3D) printers being sold in South Africa by electronics distributor Rectron currently print in two types of plastic, but have a clear upgrade path over the next five years to eventually print in wood, ceramics and metal-alloy materials, says Rectron...
The world’s two dominant commercial aircraft manufacturers, Airbus of Europe and Boeing of the US, both recently announced that they had made record aircraft deliveries in 2014. Boeing set a global record for the industry with 723 commercial aircraft delivered, while...
The Western Cape is shifting further into the renewable-energy space with the official opening of a factory specialising in solar inverters, a key component of solar photovoltaic (PV) plants. The investment in the manufacturing facility in Cape Town aims to boost the...
Business Leadership South Africa (BLSA) last month welcomed Cabinet’s establishment of a technical team war room to undertake various interventions to improve electricity supply security over the short- and medium-term, but added that the private sector also had a...
Despite a rapid rise in mobile connections and the economic and social benefits of such connectivity, more than half of the world ended 2014 unconnected. For this reason, industry commentators believe the biggest impact of mobile technology is still to come –...
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks