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Cape Town - China directly invested more than
half a billion US dollars in Africa during the first half of this year,
according to a report circulated on Friday by the University of
Stellenbosch.
The report from the university's centre for Chinese studies notes
however that trade between China and African countries has dropped 30.5% to
$37.07bn in the first six months of 2009 as a result of the global
economic crisis.
It said in the first half of the year, Chinese enterprises signed
$22.45bn of new labour service contracts in Africa, up 25% year on
year, and completed $11.53bn of business volume, up 61.1 % year on
year.
About a thousand Chinese enterprises have been approved or registered to
do business in Africa. They are in trade, manufacturing, resources
development, transportation, agriculture and agricultural products
processing.
- I-Net Bridge