China will increase investment in Africa, says Standard Bank

According to South Africa-based Standard Bank, mainland China maintained its position as Africa’s largest trading partner in 2010. Standard Bank, in which Industrial and Commercial Bank of China ICBC has a 20% stake, estimates the value of mainland investment into Africa will increase to $50 billion by 2015. It also anticipates China-Africa bilateral trade will reach $300 billion in 2015, more than double that of 2010.

“As the production capacity of Africa’s traditional trading partners of the US and European economies starts declining and they buy more and more Chinese goods, raw material trade from Africa to China will be sustainable,” said Seorus Simpson, director of Standard Bank’s debt products...