In an increasingly deepening economic relationship, China signed HK$50bn ($6.5bn) of agreements and loan deals with South Africa, a sign of the Asian giant’s ambition to expand its presence in Africa. Published: 12:00am, 4 Dec, 2015 Updated: 11:36am, 4 Dec, 2015 The two countries also agreed on plans for joint development projects worth more than $80bn over 10 years, including roads, railways and ports. Just this week, Transnet and China Export Credit Insurance has agreed to a $2.5bn funding guarantee for infrastructure projects. On another note, research reveals that Africa is becoming increasingly popular with Chinese tourists, however, it appears there are still issues that need to be overcome, such as negative press reports, if it is to compete with the western tourist markets. It is predicted that East Africa will see the largest rise in Chinese tourists as it is making it much easier in terms of visas.
In an increasingly deepening economic relationship, China signed HK$50bn ($6.5bn) of agreements and loan deals with South Africa, a sign of the Asian giant’s ambition to expand its presence in Africa. The two countries also agreed on plans for joint development projects worth more than $80bn over 10 years, including roads, railways and ports. Just this week, Transnet and China Export Credit Insurance has agreed to a $2.5bn funding guarantee for infrastructure projects. On another note, research reveals that Africa is becoming increasingly popular with Chinese tourists, however, it appears there are still issues that need to be overcome, such as negative press reports, if it is to compete with the western tourist markets. It is predicted that East Africa will see the largest rise in Chinese tourists as it is making it much easier in terms of visas.