Deals worth $6.5bn signed by China and South Africa
In an increasingly deepening economic relationship, China signed HK$50bn ($6.5bn) of agreements and loan deals with South Africa, a sign of the Asian giant’s ambition to expand its presence in Africa. More aid and investment will be announced at the Forum on China-Africa Cooperation in Johannesburg, despite criticism that China is exploiting resources through cheap loans to African countries. Just this week, Transnet and China Export Credit Insurance has agreed to a $2.5bn funding guarantee for infrastructure projects. On another note, research reveals that Africa is becoming increasingly popular with Chinese tourists, however, it appears there are still issues that need to be overcome, such as negative press reports, if it is to compete with the western tourist markets. It is predicted that East Africa will see the largest rise in Chinese tourists as it is making it much easier in terms of visas.

Ties with continent’s most industrialised nation are a signal of Beijing’s ambitions