Dear Guests, Ladies and Gentlemen,
Good morning!
It is my great pleasure to meet with all of you at the China-South Africa New Energy Investment and Cooperation Conference.
I thank Minister Gordhan, Minister Ramokgopa and Ambassador Cwele for your wonderful remarks.
I thank our organizers, the China Chamber of Commerce for Import and Export of Machinery and Electronic Products, the South Africa-China Economic and Trade Association and InvestSA for your great preparation.
I also thank the sectoral associations of from both countries and the over 170 new energy companies for your strong support.
At present, even though South Africa is experiencing unprecedented challenges of power shortage, we are glad to see that relevant efforts have been seeing quite positive results.
As South Africa’s good brother, good friend and good partner, China very much relates to the challenges here and we are ready to provide support to South Africa within our capacity.
Our two countries now both have a historical task of energy transition and sustainable economic development. It is therefore very timely for us to cooperate more in new energy investment.
Electricity powers development, and a green and low-carbon approach will be the future.
Through today’s Conference, we want to implement the important common understandings of our two Heads of State, to build a platform for information exchange and cooperation between enterprises and institutions in both countries.
We want to mobilize more stakeholders to participate in South Africa's new energy industry, provide assistance for alleviating the power crisis, and inject new momentum into the practical cooperation between China and South Africa.
It is my great pleasure to learn that Minister Gordhan had fruitful exchanges with relevant Chinese government departments and energy enterprises during his visit to China last month.
In a few days, Minister Ramokgopa will also lead a delegation to visit China. I believe his visit will further promote our exchanges and cooperation in this field.
Ladies and Gentlemen, Friends,
This year marks the 25th anniversary of the establishment of diplomatic relations between China and South Africa.
During the past years, the China-South Africa relationship achieved significant development and there have been fruitful practical cooperation across the board.
We have together set a fine example for China-Africa relations and South-South cooperation.
Last Friday, President Xi Jinping and President Ramaphosa spoke on the phone. Our two Heads of State agreed to further elevate China-South Africa relations and jointly build a high-level China-South Africa community with a shared future.
China is ready to work with South Africa to implement the key common understandings between our two Presidents, promote exchanges and cooperation in various fields, and work for more results for our Comprehensive Strategic Partnership, so as to better achieve common development.
Economic and trade cooperation has always been a key component of China-South Africa relations.
China has been South Africa's largest trading partner for 14 years in a row, and South Africa has been China's biggest trading partner in Africa for 13 years straight.
During the first five months of this year, our bilateral trade reached over 24 billion US dollars, up over 18 percent year-on-year.
Among that number, South Africa's exports to China reached over 13 billion US dollars, which is up over 19 percent year-on-year.
South Africa is one of the largest investment destinations for Chinese enterprises in Africa, Chinese companies already invested a total of over 25 billion US dollars here by the end of 2022. That created over 400,000 local jobs.
In April this year, more than 60 Chinese companies participated in South Africa’s fifth Investment Conference and announced nearly 15 billion rand in intended new investment.
Ladies and Gentlemen, Friends,
Looking ahead, our relations enjoy new opportunities and renewable energy cooperation will become a new driver and highlight of our economic and trade cooperation.
Right now, China is actively pursuing high-quality development at home. We are vigorously developing renewables and China now leads the world in technology, financial resources and human talent.
China is now the world's leading country in terms of installed capacity of hydro, wind and solar power.
We produce more than half of all wind turbines and over 80 percent of all PV panels in the world.
South Africa is also working on an ambitious just energy transition, which incorporates new energy as a means to resolve the power crisis and create a prosperous green economy.
President Ramaphosa pointed out that the overriding priority of South Africa is still to end load-shedding and achieve energy security.
China and South Africa have common development aspirations and strong complementarities in new energy.
We have what it takes to be reliable friends and strong partners in each other's economic and social transformation and development.
China is ready to work with South Africa to take the opportunities provided by today’s Conference to encourage more companies in both countries to connect on new energy cooperation and jointly advance the green and sustainable development of both countries.
First, strengthen policy communication for stronger cooperation.
Our two governments signed an MOU on energy cooperation as early as in 2010.
China is ready to maintain close communication with various South African departments, including of Public Enterprises, Electricity, Mineral Resources and Energy, as well as Trade, Industry and Competition.
As a fellow BRICS member, South Africa actively participates in China's Belt and Road initiative and the Forum on China-Africa Cooperation mechanism.
We will strengthen communication with the South African side through various bilateral and multilateral channels to stay updated on each other's energy policies, industry development and cooperation aspirations.
That will help create favorable conditions for the companies of both countries to expand new energy cooperation.
Second, further deliver projects to create new growth drivers.
In recent years, many Chinese enterprises actively participated in South Africa's wind and solar PV power projects.
This not only provides stable power supply for the local communities, but also creates massive jobs, which are important for local socioeconomic development.
China will continue to support South Africa's investment initiatives and encourage strong Chinese enterprises to further contribute.
Chinese companies will be encouraged to to leverage technical, financial and human resources advantages, and advance cooperation with South Africa in wind and solar energy, energy storage, as well as power transmission and distribution.
These efforts will see more projects implemented here to deliver more benefits to the local communities.
Third, advance cooperation in technical training and improve professional capacity.
It is my great pleasure to see that the China Energy Investment Corporation has already been in communication with Eskom on electricity technology.
China’s State Grid will also send a team of experts to South Africa very soon to provide technical advice.
China is ready to continue to send more technical experts here. We are ready to share more technical know-how with South Africa and provide more personnel training.
We will encourage Chinese enterprises here to train more local professionals through the transfer of advanced technology and skills training.
That we believe can assist South Africa in enhancing capacity for self-driven development in the new energy industry.
Fourth, expand investment and financing cooperation, especially in green finance.
Financial support is essential for energy transformation.
China is one of the first countries to develop green finance. We are also the first country in the G20 to champion green finance. China is ready to strengthen green finance cooperation with South Africa.
We are ready to share our experience and encourage Chinese stakeholders to provide strong financial support for key new energy projects here, so as to contribute stronger Chinese solutions to South Africa's energy transition.
Ladies and Gentlemen, Friends,
A green economy and sustainable development have become the global consensus and our two countries enjoy key opportunities for stronger new energy cooperation.
I hope that all our participants can make full use of the platform of this Conference today, to actively contribute wisdom and ideas, seek business opportunities and secure more results for China-South Africa new energy cooperation.
That will open up new horizons for overall China-South Africa business cooperation and give a stronger boost to a high-level China-South Africa community with a shared future.
Last but not least, I wish today’s Conference a great success!
I thank you.