FX.co ★ South Africa, China Deepen Investment Ties in Key Sectors

South Africa and China inaugurated their ninth annual trade promotion conference on Tuesday, emphasizing Chinese investments in the mining, energy, and infrastructure sectors. This dialogue unfolds as South Africa grapples with 30% U.S. tariffs, initially imposed by the Trump administration, while seeking improved trade terms. Zhang Chaoyang, the leader of the South Africa-China Economic and Trade Association, revealed a SAR 4 billion investment by Gold One, part of China’s Baiyin Nonferrous Group, directed towards gold mining in Gauteng. Additionally, the China-Africa Development Fund is set to compete for independent energy projects, and companies such as China State Construction plan to increase local procurement activities. Deputy Trade Minister Zuko Godlimpi emphasized Pretoria's objective to enhance cooperation in manufacturing, services, energy transition, and infrastructure, describing the partnership as "a mutually beneficial future."