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Former President of the Federal Republic of Nigeria Olusegun Obasanjo expounded his understanding of the Chinese dream and its implication for Africa
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VOL.5 June 2013
Huge Potential
Trade in services between China and African countries will grow rapidly

The CIFTS mainly encourages trade in services. How is this year's CIFTS different from the first fair in 2012?

I believe the CIFTS this year has new service patterns and explores the service awareness and strategies that enterprises need. More importantly, I think the CIFTS this year is more realistic and project-based.

In last year's fair, many participating enterprises mainly wanted to find out what the fair could do for them. Though some enterprises signed contracts at the fair, there were not many of them. But this year, many more such contracts will be signed.

In addition, the number of participating enterprises increases greatly. I believe the CIFTS will be better in the coming years.

 

The China-Africa Industrial Forum (CAIF) provides consulting services for Chinese enterprises investing in Africa. What specific work has it done to help Chinese enterprises expand to Africa in recent years?

In the beginning, we mainly served SOEs. But in recent years, we changed our approach and now serve more private enterprises by helping them expand their business in Africa.

In order to provide better services, we established the African Legal Affairs Center, the first organization of its kind in China, improved our information service center database and set up an evaluation center.

Nowadays, it is not very easy for China's small and micro-enterprises that are investing in Africa to obtain financial supports. Owing to their small and unstable investments, it is difficult for them to obtain financial support from large financial institutions. So we also work with some joint-stock and commercial banks getting them to provide funding to small and micro-enterprises in Africa.

Actually, bridge finance can also help small and micro-enterprises continue their funding chains. We recently expanded to work in this sector to help these enterprises obtain financial support.

 

Compared with China's investment in Africa, fewer African enterprises come to China to pursue investment opportunities. What sectors in China do you think are ripe for investment from African enterprises?

I think African enterprises can invest in China's industrial sector. Investment doesn't simply mean pursuing profits; by investing in China's industrial sector, African enterprises can learn from China's advanced experience, which it has accumulated over the more than 30 years of reform and opening up, and bring this experience back to Africa. Actually, in the early stages of China's reform, many Chinese enterprises also invested in developed countries in Europe and America and learned from their advanced experience.

In my opinion, China's shipbuilding industry is particularly suitable for African investment. Africa has long coastlines and its fishing industry has great potential, especially in deep-water fishing. Chinese enterprises in this sector have abundant experience and use advanced technology. I think competent African enterprises should invest in China's shipbuilding industry.

In addition, agriculture, including the processing of agricultural products, is another sector ready for African investment. Seafood processing and freezing technologies are a prime example of investment that could benefit Africa. As China has huge demand in this market, African enterprises can earn profits soon after they invest, and can also learn advanced technologies. CA

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Company Profile
-Putting Their Best Foot Forward
-Going the Distance
-Taking on Emerging Markets
-Building Quality
 
China Econometer
-September 2013
-August 2013
-July 2013
-June 2013
 
Business Ease
-Recruiting Chinese Staff
-Online Sourcing - Take Precautions
-Quality Management VS Quality Control
-Two Sides of the Same Coin
 
Business Briefs
-September 2013
-August 2013
-July 2013
-June 2013

 

 

 

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