China, South Africa agree to seek balanced trade, more investments

3/9/2024 12:20

        China and South Africa, whose top leaders met in Beijing, agreed to promote balanced trade and discussed boosting two-way investments between their industrial and commercial communities, a joint statement on Tuesday showed.
        
        President Xi Jinping and his South African counterpart Cyril Ramaphosa met on Monday, ahead of the ninth forum on China-Africa cooperation. Both sides called Ramaphosa's visit of "great significance" to the development of bilateral relations.
        
        Ramaphosa had sought with Xi to narrow South Africa's trade deficit with Beijing and review his country's trade structure with China, petitioning for more sustainable manufacturing and job-creating investments.
        
        China, the world's second-biggest economy, is South Africa's largest trading partner globally but the value of its imports from China far outstripped exports last year.