China and South Africa Strengthen Bilateral Ties Through Balanced Trade and Investment Agreements

China and South Africa's leaders met in Beijing and agreed on promoting balanced trade and boosting two-way investments. Discussions included narrowing South Africa's trade deficit, job creation, and technology transfer. Cooperation documents were signed focusing on areas like renewable energy, manufacturing, and export requirements.

China and South Africa have solidified their bilateral relations following a high-level meeting in Beijing. President Xi Jinping and South African President Cyril Ramaphosa discussed key areas of cooperation aimed at balancing trade and enhancing two-way investments.

During the discussions, Ramaphosa emphasized the need to reduce South Africa's trade deficit with China and restructure the country's trade to encourage sustainable manufacturing and job creation. China expressed its willingness to support local employment through recruitment initiatives and the establishment of manufacturing bases near raw material sources.

Both nations inked several cooperation agreements, including those related to satellite navigation systems, housing, and renewable energy. Although no new investment pledges were announced, the meeting underscored a shared goal to foster deeper economic and technological collaboration.

(With inputs from agencies.)