SA signs several new strategic agreements with China

Chinese Foreign Ministry spokesman Lu Kang announced Wednesday that Xi would pay a state visit to Zimbabwe on December 1-2. “This African trip by President Xi Jinping will be the most important, comprehensive and valuable visit in recent years”. This followed President Mugabe’s successful 13th State visit to China in August previous year, where another set of nine mega deals was signed with the world’s second largest economy after the US.

China is Zimbabwe’s top foreign investor, injecting 2.7 billion dollars into the country between 2010 and 2013, according to the Zimbabwe Investment Authority.

With these new projects, the Chinese leader is set to erase any doubts about whether a slowing Chinese economy would continue to provide major support for the continent’s development and about how China’s relations with Africa will evolve in the future.

“China is a cunning investor and they are all interested in resource extraction in Africa”.

Xi inspected a South African National Defence Force presidential guard of honour, before formal deliberations began behind closed doors. Jinping is in Zimbabwe for a two day State visit during which he is set to sign some bilateral agreements aimed at strengthening relationships between the two countries. Over the years, the forum has become a crucial platform for collective dialogue between China and Africa and an effective mechanism for closer practical cooperation, Xi noted.

Mugabe said he would discuss with Xi various cooperation projects aimed at accelerating his country’s socio-economic development.

Xi is the most prominent leader for many years to visit Zimbabwe – a diplomatic coup for Mugabe who has fostered ties with China since Beijing backed several African movements fighting to end colonial rule.

“I’m looking forward to having in-depth exchanges of views with President Mugabe on China-Zimbabwe relations as well as global and regional affairs of common concern”, Xi said in a written statement upon arrival.

South Africa is China’s biggest economic partner on the continent, receiving about US$13 billion in Chinese investment and home to about 400,000 Chinese businesspeople.

“The Chinese don’t know if there is a succession plan in Zimbabwe”, said the Chinese businessman in Harare.

He is expected to hold talks with President Jacob Zuma before co-chairing an economic summit on China-Africa cooperation.

Statistics from the Zimbabwe Investment Authority revealed that in 2014 China contributed over $200 million of Zimbabwe’s total FDI of $543 million.

South Africa will take advantage of hosting the summit by pushing for progress in existing areas of trade and cooperation between the two nations, and seeking new areas of cooperation, Danish said.

Despite the slowdown in its economy, China is expected to finance industrialization projects in African countries, according to Danish.