

Chinese industrialisation good for African agriculture, services
Fri, 01 Jun 2007 00:00A Standard Chartered Bank (SCB) report says that China’s industrialisation would help stimulate Africa’s agricultural and services sectors. The SCB report says China's trade and investment with Africa are expected to benefit not only the natural resources sector but also services such as tourism, with a share of the Chinese tourism market estimated at 100-million visitors globally in the next 20 years. The report says that in 2004, China investments in Africa accounted for about 6% of the US$16-billion (R110-billion) of total foreign direct investment into the continent. Most investments are directed towards the energy sector, particularly petroleum, where China has become the second-biggest consumer after the US.




