Remarks by President Cyril Ramaphosa at the Shenzhen Business Roundtable on the occasion of the State Visit to the People’s Republic of China, Beijing, China, 3 September 2024
Leadership of Guandong Province and the city of Beijing,
Ministers,
Premier of the Eastern Cape, Mr Oscar Mabuyane,
Business leaders,
Thank you to the leadership of Guangdong province and the city of Shenzhen for your generous hospitality.
This important business roundtable meeting strengthens our economic relationship.
We are truly inspired by the sheer pace of development and growth in Shenzhen and in the province of Guangdong.
We are impressed by how this extraordinary economic development has brought prosperity and progress to the people of this province.
It has also made a valuable contribution to the Chinese economy and the welfare of its people.
From humble beginnings just over four decades ago, Shenzhen has transformed into a leading digital supply chain hub.
Shenzhen is home to the most innovation-based technology start-up companies in China.
Shenzhen is now a leader in the knowledge economy.
As South Africa, we have important lessons to learn from Shenzhen.
We are keen to learn more about the city’s journey towards becoming a global centre of technology, innovation and growth.
As we work to develop our economy, we value advice, support and technical assistance in planning, infrastructure and skills development.
South Africa has important ties here in Shenzhen.
Tencent Corporation, which has its headquarters in Shenzhen, is the recipient of the biggest South African investment in China to date. This is through its relationship with the South African company Naspers.
I am delighted with the presentations by the companies today.
We see great opportunity for these companies to invest in South Africa and make use of the great opportunities that exist for growth and development.
South Africa has made a firm commitment to reduce our carbon emissions in line with our global commitments. We are doing so at a pace and in a manner that is appropriate to our country’s development path.
As we undertake this just and inclusive energy transition, we see many opportunities for growth and job creation in the green economy.
We have introduced policies to promote the development of the electric vehicle industry in South Africa.
We are certain that companies such as BYD and CATL will find South Africa a unique and advantageous location that can serve as a hub to reach other markets.
As a global leader in green energy and infrastructure, Shenzhen could be an important partner for South Africa as its energy sector undergoes a major transformation.
Over the last few years, regulatory changes have stimulated substantial new investment in electricity generation capacity, mainly from renewable sources.
We now have pipeline of over 130 confirmed private sector energy projects that will produce approximately 22 500 MW of electricity.
We are also making significant investments in our electricity transmission infrastructure.
In addition to securing our country’s energy supply, these investments will lay the basis for the further growth of our advanced manufacturing sector.
This is further supported by the implementation of the African Continental Free Trade Area, which will drive a new era of industrialisation in South Africa and across the continent.
With its abundant renewable energy resources and significant deposits of the minerals that are needed to drive green growth, South Africa is well-positioned to be a leader in the green energy and related industries.
South Africa presents a great opportunity for companies in Shenzhen to deepen their global value chains. With the capabilities that your companies have, we encourage you to play a more active role in our economy for mutual benefit.
I invite you to South Africa.
I would be pleased if the political leadership of Guandong Province leads a business delegation to South Africa to realise this investment opportunity.
I will task the Minister of Trade, Industry and Competition to lead our discussions with you. I look forward to welcoming you to South Africa.
I thank you.
Issued by: The Presidency
Pretoria