The trade between China and South Africa has witnessed rapid growth in recent years with officials estimating that the bilateral trade volume could reach US$14 billion this year.

 

The bilateral trade this year could grow by over 40 percent than last year, said Ling Guiru, counsellor on economic and commercial affairs of the Chinese Embassy to South Africa.

 

The bilateral trade volume for the first 10 months climbed to US$10.4 billion, an increase of 53 percent over the same time last year, he said.

 

China's export to South Africa increased by 36 percent during the period, while import increased by 73 percent, he said, adding the exports have shown a structural change as textiles were China's main exports to South Africa before while at present China is exporting more mechanical and electrical products and products of light industry.

 

The agreement investment between the two countries amounted to US$1.31 billion by the end of 2006, among which China's investment in South Africa was US$530 million.

 

(Xinhua News Agency November 27, 2007)