South Africa and China launched a push for Chinese investment in sectors such as mining, energy and infrastructure on Tuesday, at the launch of their ninth annual trade promotion conference.
South Africa, which had no US import tariffs on its goods under the US African Growth and Opportunity Act (AGOA), now faces 30% tariffs under the Trump administration, although it is in talks to seek a better deal.
South African Deputy Trade Minister Zuko Godlimpi underscored Pretoria’s focus on Chinese investments in manufacturing, services, energy transition and infrastructure, calling the partnership an opportunity to forge "a mutually beneficial future."
Chinese firms already hold a strong investment footprint in South Africa, the continent's most industrialised economy.
Long-term interests
Official data showed Chinese foreign direct investment in South Africa was $13.21 billion in 2024, while South African investments in China totalled $8.05 billion.
Minerals account for 93% of South Africa's exports to China, while 92% of Chinese exports to South Africa are manufactured goods. Both nations have expressed a desire to rebalance this pattern.
Chinese Ambassador Wu Peng said Chinese firms would accelerate localisation efforts.
"If you really want to look after your long-term interests, you must invest in South Africa," Peng said, urging Chinese automakers to speed up factory development.
Earlier this year, Beijing pledged to expand zero-tariff treatment to all 53 African countries with ties to China. Peng said over 30 nations had already signed framework agreements.
