South Africa Eyes Stronger Economic Ties with China|SFC Markets and Finance

时间 • 2025-07-05 23:29:52
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SFCCorrespondentZhengQingting,InternFanShuqinginBeijing

AsChinaremainsSouthAfrica’slargesttradingpartner,andSouthAfricaholdsitspositionasChina’sbiggestpartnerinAfrica,thetwocountriesaredeepeningeconomiccooperationacrosstrade,investment,andindustrialdevelopment,accordingtoMr.M.M.Basadien,Chargéd’Affairesa.i.oftheSouthAfricanEmbassyinBeijing.

InanexclusiveinterviewwithSFC,Basadiencreditedthe“All-RoundStrategicCooperativePartnershipintheNewEra”betweenChinaandSouthAfricaasastrongpoliticalfoundationunderpinningbilateraleconomicgrowth.“Therearecloseparty-to-partytiesandrobustdiplomaticengagementthathavecreatedfavorableconditionsforoureconomicrelationship,whichisnowgainingstrongmomentum,”hesaid.

WhileSouthAfrica’sexportstoChinaremaindominatedbyminerals,metals,andagriculture,BasadiensaideffortsareunderwaytopushmoremanufacturedgoodsintotheChinesemarket.“Initiativeslikeinwardbuyingmissionsarenotjustaboutrawmaterials,butalsoaboutshowcasingSouthAfricanindustrialcapabilities,”headded.

Ontheinvestmentfront,BasadienhighlightedthegrowingpresenceofChinesecompaniesinSouthAfrica,especiallyinmanufacturingandautomotivesectors.“ChinesecarbrandsareincreasinglyvisibleonSouthAfricanroads,”henoted,attributingtheirpopularitytoaffordabilityandquality.Lookingahead,heexpressedhopethatfull-scalevehiclemanufacturingfacilitieswillbecomeakeyfocusofChineseinvestment.

SFCMarketsandFinance:ChinaisSouthAfrica’slargesttradingpartnerandSouthAfricaisChina’slargestinAfrica.Howwouldyouassesstherobustgrowthinbilateraltradeinrecentyears,andwhatisyouroutlookforitscontinuedexpansion?

Basadien:Firstandforemost,oneneedstorecognizethatSouthAfricahasanAll-RoundStrategicCooperativePartnershipinaNewErawithChina.Becauseoftheverystrongpoliticalrelationshipbetweenthetwocountries,asolidfoundationhasbeenestablished—includingcloseparty-to-partyties—whichhascreatedfavorableconditionsforthegrowthofeconomiccooperation.Thisrelationshipiscurrentlyatahealthylevelofdevelopmentandcontinuestogainmomentum.

Fromabilateralperspective,keypriorityareasincludeexportdiversificationandcriticalsectorssuchasinfrastructureandenergycooperation,advancedthroughmechanismslikeFOCAC,BRICS,andothermultilateralplatforms.Ourbilateraleconomictieshaveshownconsiderablediversity.ChinahasbeenSouthAfrica’slargesttradingpartnersince2009,andSouthAfricahasbeenChina’slargesttradingpartnerinAfricasince2010.

TherearestrongsynergiesinhowwecollaboratewithChina,especiallyintrade.Wehavepromotedinitiativessuchasinwardbuyingmissions—notonlyfocusingonexportingrawmaterials,butalsoonpromotingSouthAfricanmanufacturedgoodsintheChinesemarket.SouthAfrica’smainexportstoChinaremainminerals,metals,andagriculturalproducts,whileimportsincludeelectronics,textiles,equipment,automotiveproducts,clothing,andothermanufacturedgoods.

Lookingahead,Iforeseecontinuedexpansioninbilateraltrade,withsignificantroomforgrowth,particularlyifSouthAfricasucceedsindiversifyingitsexportbasket.Economicgrowth,ofcourse,alsodependsheavilyoninvestment.Wearenowexploringnewareassuchaselectricvehicles.AlltheseinitiativesaresupportedbytheBi-NationalCommission,strategicdialogue,andpeople-to-peopleexchangemechanisms,whichtogetherserveaskeyplatformsforadvancingSouthAfrica’seconomicdevelopmentincooperationwithChina.

SFCMarketsandFinance:SouthAfricahaslongbeenamajordestinationforChineseinvestmentinAfrica.Whatemergingtrendshaveyouobservedinthisinvestment,particularlyinthemanufacturingsector?

Basadien:TheSouthAfricanGovernmentacknowledgestheimportanceofChina’stradeandinvestmentwithSouthAfrica.Chinahasprovidedsignificantimpetustooureconomicgrowththroughvariousinvestmentsandeffortstoaddresstheexistingtradeimbalance.Indeed,wehavewelcomedheightenedChineseinvestmentinstrategicareassuchasmining,energyinfrastructure,logisticsinfrastructure,agriculture,health,finance,communications,andmanufacturing.

We’realsogratefulforthegrowingmutualtrustbetweenourcountries,bestillustratedbythelargeChinesecommunityresidinginSouthAfricaandthepresenceofover180prominentChinesebusinessesoperatinglocally,suchastheBeijingAutomotiveInternationalCorporation:SouthAfrica(BAIC:SA)thatarealreadyinvestedandsuccessfullyoperatingwithinoureconomy.

BAICwhichinvestedinGqeberha,haslaunchedanewtruckassembly.Toalignwithgreenfieldprojectprovisions,BAIChasrequestedathree-yearexemptionfromBBBEE-levelrequirementstoaccesstheAutomotiveProductionandDevelopmentProgramme(APDP)onceitsSouthAfricanCKDproductionbegins.

Fromamanufacturingperspective—especiallyintheautomotiveindustry—we’veseenexceptionalprogress.SouthAfricahostsnumerousassemblyplants,butwearenowalsolookingtoattractfull-scalemanufacturingfacilities.AsonerepresentativefromourDepartmentofTradeandIndustrypointedout—andI’veseenitfirsthand—Chinesecarsdominateourroads.SouthAfricansarechoosingthemnotonlyfortheirqualitybutalsofortheiraffordabilityandcompetitivepricingcomparedtotraditionallong-establishedbrands.Thismakestheautomotivesectorakeyareaforfurtherdevelopment.

Inthetextileindustry,however,thereisstillroomforimprovement.Notably,long-termChineseinvestorsinSouthAfrica—manyofwhomhavebeenverysuccessful—arenowlookingtogivebackbyencouragingnewinvestmentinmanufacturing,particularlytextilesandrelatedindustries.

SFCMarketsandFinance:TheU.S.PresidentTrump’sreciprocaltariffshaveraisedglobalconcern.WhateffectsmightthesemeasureshaveonSouthAfrica’sexportsandoveralleconomy,andhowcouldSouthAfricatrytomitigatethisnegativeimpact?

Basadien:ThetariffssituationisstillunderassessmentbytheSouthAfricanGovernment,anddesiretoengagetheU.S.administration.

SFCMarketsandFinance:TheIMF’slatestforecastwarnsofpotentialheadwindsforSouthAfrica’seconomy.Howwouldyouevaluateitsgrowthprospectsoverthecomingyears?

Basadien:OneveryimportantpointtonoteisthatthecurrentchallengesarenotaffectingSouthAfricaalone—theyarehavingaglobalimpact.AccordingtotheSouthAfricanReserveBank,theworldeconomyiscurrentlyexperiencingextremelyhighlevelsofuncertainty.Tradetensionshaveescalated,andlong-standinggeopoliticalrelationshipsareshiftingabruptly.Undertheseconditions,theglobaleconomicoutlookishighlyunpredictable.

TheeconomicoutlookforSouthAfricain2025includesthefollowingkeypoints:Initially,theSouthAfricanReserveBankforecastedeconomicgrowthofnearly2%in2025,however,thisprojectionwasdownscaledto1.7%duetounpredictabletradedisruptions.ThisadjustmentisslightlyconsistentwiththeprojectionbytheAfricanDevelopmentBankwhichpredictedannualGDPgrowthat1.6%in2025.TheInternationalMonetaryFundestimatesGDPgrowthat1.5%,reflectingcautiousoptimismamidglobalchallenges.

YoumayrecallthatinSeptember2024,PresidentCyrilRamaphosapaida2ndStateVisittoChina.Duringthevisit,hecalledconsistentlyforincreasedforeigndirectinvestmentfromChinaintoSouthAfrica’seconomy.WeacknowledgetheimportanceofChina’stradeandinvestmentwithSouthAfricaandAfrica,andwesincerelyappreciatetheChinesecompaniesthathavealreadyinvested,aswellasthoseexpressinginterestindoingso.

WhatIwouldliketoemphasizeisthatSouthAfricaisahighlyresilientcountry,witharichhistoricallegacy.Ithasfacedmanychallengesovertime,yetithasconsistentlyemergedstronger.Weareconfidentthat,throughnegotiationanddiplomaticengagementwithkeyglobalstakeholders,wecanfindconstructiveandamicablesolutionstothecurrentcircumstances.

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Reporter:ZhengQingting,InternFanShuqing

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