By Lehlohonolo Lehana.
Deputy President Mashatile delivered a keynote address at the launch ceremony of Corporate Social Responsibility Report of Chinese Funded Enterprises in South Africa.
Founded in 2011, SACETA, a non-profit entity voluntarily established by Chinese-funded enterprises in South Africa, was entrusted with the compilation of this report.
“We acknowledge SACETA members’ substantial contributions to South Africa’s economic and social development. Your participation and investment in our country are critical for creating jobs and promoting economic growth and development,” said Mashatile.
“The report launching today highlights the contributions of Chinese-funded enterprises in South Africa to environmental conservation, community development, education, and healthcare. It acknowledges the importance of responsible business practices and their positive impact on society, highlighting their dedication to social responsibility and efforts toward a more inclusive and sustainable future.”
He said the 200 Chinese-funded enterprises operating in South Africa serve as role models for businesses, demonstrating that profitability should be balanced with social good.
“As the global economy faces challenges like climate change and social inequality, businesses must embrace their role as agents of positive change. The Corporate Social Responsibilities Report exemplifies this ethos, inspiring a prosperous, equitable, and sustainable future, “said Mashatile.
He said China, as one of the world’s greatest economies, provides an enormous market for South African goods and services. In return, South Africa provides rich resources, such as minerals, agricultural products, and skilled labour, to support China’s rising economy.
“Improving trade connections between South Africa and China benefits both countries directly and has a positive ripple effect throughout the region. Increased trade creates jobs, stimulates economic growth, and improves living standards for the people of both countries,” he said.
South Africa mostly exports minerals and agricultural products to China while importing mostly manufactured goods from China.
“At a time when African economies are becoming more integrated, China’s technological prowess may help Africa industrialise and export more than just raw materials. Instead of exporting raw agricultural items, South Africa may export processed foods that are more valuable,” he said.
“We further agreed that we must meet China’s specific market access requirements, such as full compliance with the General Administration of China’s (GACC) regulations and standards.”
He urged the Chinese-funded enterprises operating in South Africa to seize opportunities in emerging fields such as artificial intelligence, the digital economy, and green energy.
Chinese Ambassador Wu Peng said the Corporate Social Responsibility Report of Chinese-Funded Enterprises in South Africa officially launched on Wednesday marks the second edition following its first release in 2018.
“This report highlights the substantial contributions made by Chinese-funded enterprises in recent years towards the local development of South Africa, including efforts to improve the livelihoods of local communities, protect the environment, and support various sectors. It serves as a vivid demonstration of how Chinese-funded enterprises faithfully implement the principle of sincerity, real results, amity, and good faith, and take the right approach to friendship and interests, as proposed by President Xi Jinping,” said Wu.
He said SACETA plays a pivotal role in advancing mutually beneficial economic and trade cooperation, enhancing communication with government departments in South Africa, and promoting the compliance and development of Chinese-funded enterprises.
“If we compare the practice of Chinese enterprises fulfilling their social responsibilities to the flowers of Namaqualand – the most famous flower ocean in South Africa – the close economic and trade ties between China and South Africa would be the fertile soil that nurtures the beautiful flowers. Our bilateral economic and trade cooperation has composed a wonderful chapter in China-South Africa relations,” he said.
South Africa, as the first African country to sign the Belt and Road cooperation document with China, stands as one of China’s most important investment destinations on the African continent.