China and South Africa Forge Ahead with Economic Cooperation

China and South Africa have agreed to enhance balanced trade and boost two-way investments. Presidents Xi Jinping and Cyril Ramaphosa aim to improve manufacturing and job creation. Key areas include renewable energy, technology transfer, and poverty reduction. They have signed cooperation documents for various sectors including satellite navigation and housing.

In a significant move, China and South Africa have committed to promoting balanced trade and enhancing two-way investments. A joint statement by the countries' leaders, issued on Tuesday, highlighted these collaborative efforts.

South African President Cyril Ramaphosa and Chinese President Xi Jinping met in Beijing, aiming to address South Africa's trade deficit with China, the globe's second-largest economy. Ramaphosa emphasized the importance of sustainable manufacturing and job-creating investments.

The joint statement also underscored commitments to job creation, technology transfer, and manufacturing. Both nations signed numerous cooperation documents covering satellite navigation, housing, and dairy exports. They also announced plans for a new energy investment conference to support the African Continental Free Trade Agreement.

(With inputs from agencies.)