ZANIS COPY; Chinese investment in Zambia hits over US$2bn – Envoy

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—Chinese investments in Zambia has exceeded US$2 billion and trade volumes between the two countries has reached US$3.84 billion.


Chinese Ambassador to Zambia Yang Youming says the investments has hit US$2.6 billion and were achieved through Foreign Direct Investments (FDIs) last year.


Mr. Yang says 50,000 jobs have to this effect been created by over 500 Chinese firms that have invested and are operating businesses in Zambia in the mining, construction, manufacturing, agriculture, finance and other key sectors of the economy.


Mr. Yang disclosed this in Lusaka last evening during a cocktail party for Madison Group General Insurance run by Lawrence Sikutwa and Associates Limited.


The Chinese Envoy urged the Zambian Government to take a leaf in China’s high speed economic train alongside strengthening the bilateral ties enjoyed between the two countries.


He said Zambia has now become the eighth major trade partner in Africa while his country has become Zambia’s third major trade partner.



He congratulated Zambia on her 50th independence anniversary and reiterated his country’s support financially, materially and technical assistance provided through the Chinese Embassy in Zambia.


And speaking earlier, Madison Group General Insurance Chairman Lawrence Sikutwa said China is a to reckon with and a major source of supply to Zambia because it is an industrialised country.


Dr. Sikutwa said Zambia remains ready to learn from China’s economy and commended it for alleviating poverty among the Zambian people.


He said China’s economic growth has not happened by accident but as a result of good planning and strategy implementation.