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.

Similarly, Mashatile said South African companies can leverage Chinese capital and expertise to expand their operations globally and tap into new markets.

“In 2023, Chinese businesses revealed plans to invest up to R15 billion at South Africa's fifth Investment Conference. In that same year, we witnessed the signing of significant purchase agreements totalling 2.2 billion US dollars with companies in both nations. Therefore, our positive trade relations continue to be crucial in combating unemployment, inequality, and poverty,” he said.

The deputy president also called on China to increase sustained and new foreign direct investment (FDI) to support assembly, manufacturing, infrastructure development, and beneficiation at the raw material source.

“Considering that South Africa is grappling with significant skills shortages across several crucial sectors, particularly in IT, engineering, healthcare, and finance. I would like to encourage SACETA to also focus on this area,” he said.

“As a country, we have implemented measures to make it easier for foreigners to apply for and acquire work permits. According to Reserve Bank data, each vital talent brought into the country has the potential to indirectly create seven more jobs.

As a country, we wish to collaborate with you to address these important skill shortages through attracting foreign talent,” said Mashatile.

The deputy president said moving forward, he reaffirms commitment to expanding South African-Chinese trade and investment cooperation.