How many Chinese enterprises are now investing in South Africa and is it possible to measure their contributions to local economic and societal development? A report on the development of Chinese enterprises in South Africa issued on December 8, 2016 in Tshwane, South Africa may help find answers to these and other questions relating to investment.

According to the newly issued report, by the end of 2015 China's investment in South Africa has reached an accumulative total of about $13 billion. More than 300 Chinese companies (representative offices) are currently operating in the country engaging in the sectors ranging from financing, mining and household appliances to telecommunications and construction machinery.

The report says that Chinese companies' investment in South Africa has fostered the development of the local economy, created tens of thousands of jobs, promoted the development of science and technology and helped improve the local people's livelihood.

By the end of 2015, Chinese companies in South Africa had employed more than 26,000 people, among them 24,000 are locals, accounting for 91.56 percent, according to the report.

The staff localization rates in the China Gansu Baiyin Nonferrous Metals Group, which has invested $784 million in South Africa, and the PMC project co-funded by Hebei Iron and Steel Group Consortium and South African Industrial Development Corp., with $668 million investment, are 99.84 percent and 99.86 percent respectively, the report cites.

In addition, the report analyzes the challenges Chinese companies are facing with issues that include safety and security and issuance of visas.

Chinese Ambassador to South Africa Tian Xuejun, Chinese Economic and Commercial Counsellor Rong Yansong, Director General of the Department of Public Enterprises of South Africa Mogokare Seleke, Deputy Director General of Department of International Relations and Cooperation Anil Sooklal, and about 200 Chinese and South African entrepreneurs were present at the report launch ceremony.

Tian said at the ceremony that over the years, the Chinese companies have devoted themselves to South Africa's economic and social development. They have strictly abided by laws and regulations, maintained sound relations with the local community, earnestly fulfilled their social responsibilities and actively engaged in the development of South Africa's education, health and social sectors.

Tian said that Chinese companies are now working closely with their South African partners to deepen and expand cooperation in infrastructure building, special economic zones and industrial parks development, equipment manufacturing, and production capacity. Both sides are energetically pushing forward the reindustrialization and the social and economic transformation in South Africa.

He said that it is particularly worth mentioning that despite the current sluggish world economy and weak international commodity prices, Chinese companies are striving to keep investment, production and jobs in South Africa so as to consolidate the local employment market.

These efforts once again prove that Chinese companies have a deep foundation in South Africa and their future is closely connected with the country and its people.

Mogokare Seleke said that current players in South Africa view the country in the context of challenges, problems, and weaknesses. But he firmly believes that China and Chinese entrepreneurs will focus on the opportunities and untapped potential waiting to be unlocked.

He encouraged Chinese and South African companies pursuing win-win cooperation to ensure that the common goal of mutual economic growth is realized.

The Report on the Development of Chinese Enterprises in South Africa was issued by the South Africa-China Economic and Trade Association, a non-governmental organization.