BEIJING, Apr. 24 (Xinhua) -- As of the end of 2017, China’s total investment in South Africa has exceeded 25 billion U.S. dollars, creating hundreds of thousands of jobs for the local people, according to Lin Songtian, Chinese Ambassador to South Africa at an investment seminar held in Beijing on Monday.
In 2017, the bilateral trade volume between China and South Africa reached 39.17 billion U.S. dollars, an increase of more than 26 times compared with that in 1998 when their diplomatic relations were established.
Meanwhile, the China-Africa Development Fund has cumulatively invested more than 4.6 billion U.S. dollars in 92 projects of 36 African countries, which can drive Chinese enterprises' investment in Africa by nearly 23 billion U.S. dollars, said Shi Jiyang, president of the China-Africa Development Fund, at the seminar.
In the future, the China-Africa Development Fund will increase investment in Africa’s agriculture and manufacturing sectors, promote China's advantageous production capacity and real industries to “go global”, and help practice of the Belt and Road Initiative in Africa, Shi said. (Edited by Hu Pingchao, hupingchao@xinhua.org)
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