China to invest $14.7 billion in South Africa – Ramaphosa

China’s President Xi Jinping with South African President Cyril Ramaphosa

China would invest $14.7 billion in South Africa, President Cyril Ramaphosa said on Tuesday after talks between the two countries, news that sent the rand one percent firmer.

Speaking at the same event, Chinese President Xi Jinping said the world’s second-biggest economy would take active measures to expand imports from South Africa to support development in Africa’s most industrialised economy.