The Chinese embassy in South Africa, headed by Ambassador Wu Peng, recently hosted a briefing to discuss the outcomes of the third plenary session of the 20th Central Committee of the Chinese Communist Party. During this event, Li Yunze, Director of the National Financial Regulatory Administration (NFRA), emphasized the importance of China-South Africa relations, describing South Africa as a key partner in mutual assistance and shared goals for national development and international fairness.
Looking forward, Li expressed China’s readiness to deepen cooperation with South Africa under the Belt and Road Initiative and the Forum on China-Africa Cooperation (FOCAC), helping South Africa meet its National Development Plan 2030 goals. He encouraged Chinese enterprises to invest in South Africa and welcomed more South African products in the Chinese market.
China has remained South Africa’s largest trading partner for over a decade, with imports from South Africa reaching $17.3 billion in the first half of this year, marking a 10.7% increase from the previous year. More than 200 Chinese companies have invested in South Africa, generating over 400,000 local jobs.
Ambassador Wu emphasized the economic benefits arising from the plenary session and urged the creation of a business-friendly environment in South Africa to attract Chinese investors. The event was attended by delegations from the African National Congress (ANC) and the South African Communist Party, among other representatives.
