Oct 26, 2012
Chinese minerals trading house sets up in JoburgBack
Construction|Engineering|Johannesburg|Africa|China Nonferrous Metal Mining|CNIT South Africa|CNMC International Trade South Africa|Contractor|Export|Mining|Resources|Africa|China|South Africa|Equipment|Logistics|Logistics Services|Mechanical And Electrical Equipment|Metal Commodity Trade Opportunities|Products|Services|Supply Network|Chen Jiang|Li Xiaoying|Rob Davies|South Africa
© Reuse this
CNMC International Trade South Africa is a subsidiary of CNMC International Trade (CNIT), which trades in a range of products and services.
CNIT South Africa would focus on bulk mineral and metal commodity trade opportunities, as well as engineering consultancy and contractor work, logistics services and the supply of mechanical and electrical equipment and plants.
CNMC president Li Xiaoying said that CNIT South Africa aimed to invest in a global supply network, integrating mining and mineral resources development, mining engineering and construction, besides others, while enabling CNMC to participate in international economic cooperation and competition.
Speaking at the official opening ceremony, in Sandton, she encouraged the new South African unit to strengthen local and international trade exchange and cooperation.
Consul General of the People's Republic of China Li Jiangning said that South Africa had become China’s biggest trading partner on the African continent and continued to attract Chinese investment.
Trade and Industry Minister Dr Rob Davies, who led a 68-company-strong delegation to the South African Expos 2012, in China, earlier in the week, has described the relationship as increasingly important.
China, he said, has been South Africa’s leading trading partner both as an export destination and as a source of imports since 2008.
Bilateral trade between the two emerging economies reached $45.4-billion last year, up 77% from the prior year. South African exports to China jumped 150%, accounting for $32-billion of the trade.
South Africa accounted for 25% of Chinese exports to Africa and the source of 38% of Chinese imports from the continent, Department of Trade and Industry director-general Lionel October said earlier in the week.
He added that Chinese companies should take advantage of opportunities presented by recent initiatives such as the Tripartite Free Area and continue to invest in South Africa.
CNIT South Africa GM Gao Xiang said that South Africa offered the company advantageous geographic and marketing opportunities.
Xiang and CNMC executive director and CNIT South Africa vice GM Chen Jiang would be based in Johannesburg, with two other Chinese nationals. As the company expands, the group would hire local employees.
Edited by: Terence Creamer© Reuse this Comment Guidelines (150 word limit)
Creamer Media Editor
Other Trade News
Updated 4 minutes ago Pakistan approached the World Trade Organisation (WTO) in November for dispute settlement consultations with South Africa regarding the imposition of provisional antidumping duties on portland cement. The action was precipitated by what Pakistan considered to be...
Updated 3 minutes ago Pakistan approached the World Trade Organisation (WTO) in November for dispute settlement consultations with South Africa regarding the imposition of provisional antidumping duties on portland cement. The action was precipitated by what Pakistan considered to be...
Recent Research Reports
Water 2015: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2015 Report considers the aforementioned issues, not only in the South African context but also in the African and global context in terms of supply and demand, water stress and insecurity, and access to water and sanitation, besides others.
Input Sector Review: Pumps 2015 (PDF Report)
Creamer Media’s 2015 Input Sector Review on Pumps provides an overview of South Africa’s pumps industry with particular focus on pump manufacture and supply, aftermarket services, marketing strategies, local and export demand, imports, sector support, investment...
Liquid Fuels 2015: A review of South Africa's liquid fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2015 Report examines these issues in the context of South Africa’s business environment; oil and gas exploration; fuel pricing; the development of the country’s biofuels industry; the logistics of transporting liquid fuels; and...
Road and Rail 2015: A review of South Africa's road and rail sectors (PDF Report)
Creamer Media’s Road and Rail 2015 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 infrastructure and network, the funding and maintenance of these respective networks, and...
Defence 2015: A review of South Africa's defence sector (PDF Report)
Creamer Media’s Coal 2015 report examines South Africa’s coal industry with regards to the business environment, the key participants in the sector, local demand, export sales and coal logistics, projects being undertaken by the large and smaller participants in the...
Real Economy Year Book 2015 (PDF Report)
There are very few beacons of hope on South Africa’s economic horizon. Economic growth is weak, unemployment is rising, electricity supply is insufficient to meet demand and/or spur growth, with poor prospects for many of the commodities mined and exported. However,...
This Week's Magazine
The BMW Group will invest R6-billion at BMW Group South Africa’s (BMW SA’s) Rosslyn plant to produce the next-generation X3 sports-activity vehicle (SAV) for the local and export markets. Rosslyn will continue production of the current 3 Series through its lifecycle,...
The lack of consequences for poor performance and transgressions on the part of contractors remains a significant hurdle to tackling South Africa’s service delivery challenges, delegates heard at the Consulting Engineers South Africa Infrastructure Indaba, on...
City of Ekurhuleni executive mayor Mondli Gungubele earlier this month officially named the city’s bus rapid transit (BRT) system, Harambee.
About 58% of unstructured data stored by companies is dark data, which means that the value or regulatory importance of the data has not been determined. Subsequently, most of the stored data add costs, rather than increasing revenue or reduce regulatory risks, says...
Effective logistics, import/export and manufacturing consulting services require detailed industry knowledge and experience, but can add significant value to these industries by providing expert advice on various technical elements in their value chains, says...