#BRICSSummit2018: China’s $14bn investment a boost for crucial sectors in SA

Published 26 July 2018, by Baldwin Ndaba 

Johannesburg – Crucial sectors of the economy – including the manufacturing sector – will significantly benefit from a more than $14billion investment in the economy by the Chinese government.

This was the commitment made by Trade and Industry Minister Rob Davies after Energy Minister Jeff Radebe told delegates at the BRICS Summit – which got underway in Sandton on Wednesday – that his portfolio wanted a quarter of the Chinese investment to be set aside for energy projects in the country.

Responding at a media briefing, Davies said all crucial sectors of the South African economy would benefit from this investment, particularly manufacturing and infrastructure development.

He also announced that the television and household appliance manufacturer Hisense was expanding its investment in South Africa, which was considered the second best-performing Hisense branch outside of China.

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