Translator: Joseph Webster
Published on: 09/22/2014
Source: Hunan Daily
Original text (in Chinese): http://epaper.voc.com.cn/hnrb/html/2014-09/22/content_882276.htm?div=-1
Hunan and South Africa’s trade relationship has steadily developed in recent years. According to the Department of Commerce’s statistics, in the year 2013, Hunan and South Africa imports and exports totaled $22.3 billion which was an increase of 40.0 percent and accounted for one tenth of the province’s total imports and exports. Through August of this year, Hunan’s Department of Commerce had approved six companies to invest in South Africa, with investment contracts from the Chinese side totaling $15.88 million.
The South African embassy’s Political and Economic attache Gcoyi explained that South Africa had established Chinese-style Special Economic Zones, set up many industrial parks, assembled new energy sources, manufactured cars, produced jewelry, and other services. To firms operating in the industrial parks, the South Africa government gives preferential treatment with regard to finance, taxes, production equipment, customs, and other related policies. Hopefully, in cooperation with Hunan, new breakthroughs will be achieved in South Africa’s developing industries such as new energy, car manufacturing.