China and Africa have developed increasingly strong economic ties over the past decades. The relationship has progressed through political, dormant, and commercial phases currently dominated by China's demand for African resources and Africa's need for infrastructure development. High-level diplomatic visits from China have often preceded growth in trade, investment, loans, and aid. China is now a leading trade partner for Africa and continues to provide no-strings-attached financing for major projects across the continent through initiatives like the Forum on China-Africa Cooperation and China-Africa Development Fund.
Tba on sourcing firms for csc roundtable 18 dec 2012 - final hoWilliam Dey-Chao
- The document is from The Beijing Axis, a China-focused advisory and procurement firm, and discusses perspectives on sourcing firms.
- The Beijing Axis operates across four synergistic businesses - commodities, capital, procurement, and strategy - and provides services to international and Chinese firms operating in China and other Asian markets.
- It discusses trends in global sourcing, issues companies face when sourcing from China, what products are best to source from China, and different models for structuring China sourcing operations. The Beijing Axis' own procurement methodology is also summarized.
The document discusses China's growing interest in moving outward through mergers and acquisitions (M&A). It provides context for why China is now looking to expand abroad given its slowing GDP growth. The objectives of a smooth external growth policy are outlined as accessing worldwide profit pools, securing strategic resources, and building global brands. The document then discusses challenges China faces in M&A and proposes designing a high return M&A strategy through careful preparation, targeting opportunities, and integrated acquisition and integration processes. Two case studies of Chinese M&A deals, one in Italy and one in the US, are presented as examples.
How to lead successful mergers and acquisitions (M&A) and partnerships in China ? This presentation provides insights based on a finance book published in 2015.
China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...Bruno Bensaid
The document discusses a presentation by Shanghaivest on opportunities for European companies in the Chinese tech ecosystem. It provides an overview of trends in Chinese venture capital investment and government policies supporting startups. It also profiles examples of successful fundraisings and acquisitions of Western companies in China, highlighting opportunities for cross-border deals.
The document summarizes a webinar by SAMI Consulting on scenario planning for India and China to 2015. It provides an agenda, introduction to scenario planning and SAMI Consulting. It then describes two scenarios created for India's future - "The Elephant Lumbers Along" where liberalization continues gradually and "The Elephant Breaks its Chains" where a more centralized system emerges. For China, the scenarios were "The Lion Leads the Dance" involving gradual liberalization, and alternative futures. Real events since 2006 are then compared to the scenarios. Key lessons are that scenarios need not be constrained by history and identifying early indicators of shifts between scenarios is important.
The document discusses China's transformation and the merits of procurement from China. It provides an overview of The Beijing Axis, a China-focused advisory firm, and its synergistic businesses in commodities, capital, procurement, and strategy. The Beijing Axis has successfully worked with many international and Chinese companies, with a focus on mining, resources, industrial engineering and other sectors. It also operates across China and helps firms navigate opportunities in unfamiliar markets.
Steve Ganster Presentation to GIC Global Summit on Mergers and Acquisitions in China 2009 http://www.gicglobal.com/
Steve can be reached at sganster@tompkinsinc.com
Tba on sourcing firms for csc roundtable 18 dec 2012 - final hoWilliam Dey-Chao
- The document is from The Beijing Axis, a China-focused advisory and procurement firm, and discusses perspectives on sourcing firms.
- The Beijing Axis operates across four synergistic businesses - commodities, capital, procurement, and strategy - and provides services to international and Chinese firms operating in China and other Asian markets.
- It discusses trends in global sourcing, issues companies face when sourcing from China, what products are best to source from China, and different models for structuring China sourcing operations. The Beijing Axis' own procurement methodology is also summarized.
The document discusses China's growing interest in moving outward through mergers and acquisitions (M&A). It provides context for why China is now looking to expand abroad given its slowing GDP growth. The objectives of a smooth external growth policy are outlined as accessing worldwide profit pools, securing strategic resources, and building global brands. The document then discusses challenges China faces in M&A and proposes designing a high return M&A strategy through careful preparation, targeting opportunities, and integrated acquisition and integration processes. Two case studies of Chinese M&A deals, one in Italy and one in the US, are presented as examples.
How to lead successful mergers and acquisitions (M&A) and partnerships in China ? This presentation provides insights based on a finance book published in 2015.
China Tech Investment Ecosystem - presentation @ BPI - 14 Nov 2016 - Bruno Be...Bruno Bensaid
The document discusses a presentation by Shanghaivest on opportunities for European companies in the Chinese tech ecosystem. It provides an overview of trends in Chinese venture capital investment and government policies supporting startups. It also profiles examples of successful fundraisings and acquisitions of Western companies in China, highlighting opportunities for cross-border deals.
The document summarizes a webinar by SAMI Consulting on scenario planning for India and China to 2015. It provides an agenda, introduction to scenario planning and SAMI Consulting. It then describes two scenarios created for India's future - "The Elephant Lumbers Along" where liberalization continues gradually and "The Elephant Breaks its Chains" where a more centralized system emerges. For China, the scenarios were "The Lion Leads the Dance" involving gradual liberalization, and alternative futures. Real events since 2006 are then compared to the scenarios. Key lessons are that scenarios need not be constrained by history and identifying early indicators of shifts between scenarios is important.
The document discusses China's transformation and the merits of procurement from China. It provides an overview of The Beijing Axis, a China-focused advisory firm, and its synergistic businesses in commodities, capital, procurement, and strategy. The Beijing Axis has successfully worked with many international and Chinese companies, with a focus on mining, resources, industrial engineering and other sectors. It also operates across China and helps firms navigate opportunities in unfamiliar markets.
Steve Ganster Presentation to GIC Global Summit on Mergers and Acquisitions in China 2009 http://www.gicglobal.com/
Steve can be reached at sganster@tompkinsinc.com
Finance Economics revisited, a primer (abstract) - MaverlinnOlivier Coispeau
This is the abstract of a presentation delivered by Olivier Coispeau in September 2015. The presentation highlights conditions for renewed economic and financial analysis.
Jordanian Entrepreneurship Ecosystem Assessment - 10/2017Jennifer Atala
I was contracted to design and implement a needs and stakeholder assessment of the Jordanian Entrepreneurship Ecosystem for an international client who was awarded the EU contract to develop and implement the Jordanian Action for the Development of Enterprises (JADE) Project. These slides represent a summary of my research, findings, and recommendations as presented to an audience in early 2018.
1) The document provides information on Hong Kong's startup ecosystem, including statistics on the number of startups, founders, sectors, accelerators, and public funding programs available.
2) It highlights events from StartmeupHK Festival 2017, including venture forums on retail technology, fashiontech, smart cities, and fintech.
3) Contact details are provided for StartmeupHK, the organization that promotes Hong Kong as a startup hub and connects entrepreneurs through events like the annual festival.
UkraЇnvest is a framework developed by a public initiative volunteers for creating a nationwide Investment Promotion Agency which offers a full range services for foreign investors
Hong Kong is a leading FinTech hub in Asia, with the FinTech sector accounting for 17.6% of GDP and 6% of the workforce. It is home to 75 of the world's largest 100 banks and is the #1 asset management hub in Asia. Hong Kong has over 130 FinTech startups and hosts numerous FinTech events and accelerators each year. The government actively supports the FinTech sector through initiatives like the FinTech sandbox and liaison offices, as well as funding for R&D and talent training. Hong Kong's position provides FinTech companies access to the China and Asian markets as well as regions along the Belt and Road initiative. Key FinTech sectors include cybersecurity, RegTech, wealthtech
Stefano Neri, Chairman and CEO of Italeaf, discusses the company's experience establishing operations in Hong Kong to bridge connections between Western and Eastern markets. Italeaf uses its facilities and expertise to support cleantech companies and has established a joint venture called WSAVE in China to commercialize an Internet of Things solution that saves over 20% of energy usage in buildings. While Hong Kong provides advantages as a location and facilitator for partnerships, Italeaf also faces weaknesses like high costs, legal protection issues, and a perception focused more on commerce than research and development.
Global Startup Platform_Market Research Report_2012Vasily Ryzhonkov
Global Startup Platform. Marketing Research Report. Version 4.0.
80+ pages of analysis and research, 4 online surveys analyzed, 9 reports from BCG, Startup Genome Project, Global Entrepreneurship Monitor, Opora Report, Yandex Report, TNS Report are analyzed.
New results are found.
Market Size Estimation for Russia is calculated.
This document summarizes China's growing investments abroad and the opportunities and challenges they present. It discusses China's investments in countries like the US and France. The main reasons for China's global investments are to access new markets, acquire technology and skills, and develop capabilities to better compete at home. However, challenges include concerns about China's legal and financial systems as well as a lack of experience operating overseas. Both opportunities like new jobs and markets and continuing challenges around transparency and technology transfer were presented.
Mr. Uri Adoni, Partner at JVP - Winning the Future trough Innovation Quantum Leap
Uri Adoni gave a presentation about JVP, an Israeli venture capital firm, and the Israeli high-tech industry. JVP has built over 95 companies since 1993 with $17 billion in total transaction value. They take a unique approach to investing through funds, an incubator program, and strategic partnerships. Major investment themes for JVP include digital media, next-generation storage/infrastructure, and cybersecurity. Israel has the highest density of startups in the world due to factors like its diverse ecosystem, government incentives, and entrepreneurial culture. Major trends highlighted were the importance of individuals, smart mobility, cloud computing, the internet of things, and analytics.
Presentation given by Szymon Radziszewicz, IFAC Senior Technical Manager, during a seminar on the IFAC and the accountancy profession at the Philippines Institute of Certified Public Accountants.
Scope:
* Should Chinese banks expand globally? And how?
* Secondary and primary research
Findings:
* Global expansion is not an obvious case
* Long term benefits vs. immediate opportunity costs
* Large gap in capability for globalization
Recommendations:
* Understand yourself
* Set clear goals
* Chart the journey step by step: Learn, Diversify, and Grow Globally
The document describes Metric India Art Fund (MIAF), which aims to build and finance the art industry. MIAF will operate as both an investor in artworks and a structured fund manager investing in the art sector. It will focus on taking advantage of the untapped art market in India and bridging the gap between financial markets and art as an asset class. MIAF will make investments across private equity, public equity, and liquid funds based on criteria like management strength, barriers to entry, and clear exit strategies.
Virtual Business Incubator Framework for Enriching Innovation Ecosystem 2013Vasily Ryzhonkov
The main purpose of this work is to find possible solutions for overcoming challenges of existing business incubation models. The end goal is to provide practitioners with the model of economic development tool which will help them to build new generation of business incubators, e.g. to guide management teams, policy makers, entrepreneurs and educators in establishing a successful business incubation program (BIP). Eventually the model intends to expand the limits of existing business incubation models.
Yinglan Tan is an expert speaker on innovation and entrepreneurship in China. He has spoken at many major conferences and companies. As a summary:
- Tan is an adjunct professor who has educated at Harvard, Stanford and Carnegie Mellon. He advises venture capital funds and startup boards in Asia.
- He is an in-demand speaker who discusses topics like financing startups creatively, how Chinese companies innovate successfully, and lessons from Chinese entrepreneurs.
- Tan's speaking draws from his research and interviews with innovators in China to dispel myths and provide practical advice for multinationals working with China.
The document discusses repositioning strategies for Malaysian companies' internationalization. It proposes three key points:
1) Malaysian exporting companies have a different initial position than Western companies due to factors like "psychic distance". Nearby countries like Indonesia may be more psychically close potential markets.
2) A low-price strategy is commonly used but not necessarily the main competitive advantage. Other factors like quality and innovation are important.
3) Fifteen internationalization triggers can be allocated among four strategic positions based on importance to competitive advantage, including low/high price and volume. Position 2 (low price, low volume) is not sustainable long-term.
LEAP is a cross-border investment firm that connects investors and deals between China and the US. It has a team of professionals with experience in China and the US. LEAP provides services such as raising capital from Chinese HNWIs for US funds, facilitating Chinese acquisitions of US businesses, and developing investment products. It has a competitive advantage through its network of over 200 clients/alumni in China and relationships with US financial institutions. There is increasing demand and feasibility for LEAP's services due to growing Chinese investment overseas and lack of competitors in cross-border dealmaking between the two countries.
This document proposes a partnership between Co-Win Venture Resources, a Chinese co-investment firm, and a U.S. partner. It outlines opportunities for recruiting Chinese investors, establishing a co-investment fund focused on U.S. companies expanding into China, and leveraging each partner's strengths to support portfolio companies. Challenges recruiting Chinese clients and finding cross-border investment opportunities are also discussed. An action plan is proposed to further discuss partnership details and opportunities beyond the co-investment fund.
Trade missions and firm internationalizationHuub Ruel
This presentation points out why trade mission effectiveness research failed to establish robust outcomes. Trade mission research considers it as a static standardized event and does not look into the dynamics of trade missions. Furthermore it ignores firm characteristics and the preparation and follow up stage. Trade mission research needs to be revamped and innovated by using a diverse set of theoretical lenses as well as using process theories to capture the dynamics of trade missions. Furthermore, research needs to go beyond the tangible outcome focus and pay attention to the internationalization learning experience of participating firms.
This document discusses Scottish Enterprise's research on and policies targeting high growth firms in Scotland. Some key findings include that high growth firms contribute disproportionately to job creation and economic growth despite making up only 2.5% of firms. Leadership skills were found to be a core component of what enables firms to achieve high growth. Scottish Enterprise's policies focus on developing leadership and management skills in firms, supporting ambitious growth plans, and improving firms' customer focus, marketing, and sales abilities. Future research plans include measuring leadership skills in supported firms and assessing the impact of leadership on firm performance.
Investment and growth in China (abstract) - MaverlinnOlivier Coispeau
- China has experienced impressive economic growth over the past 30 years, with its GDP increasing at an average of 7.1% annually. However, investment as a percentage of GDP has remained very high between 47-49% in order to sustain growth.
- The Chinese stock market performance has become decoupled from GDP growth since 2009, showing the fragile structure of Chinese markets. This was exacerbated by the 2012 fraud scandal of Xintadi Bio-Tech, which halted Chinese IPO activity.
- With few exit options, mergers and acquisitions have become an increasingly important strategy for private equity in China. One example is Shuanghui's $4.7 billion acquisition of Smithfield Foods in 2013
This document contains advertisements and menus for several local businesses in Wisconsin, including a catering company and fish fry restaurant. The catering company is advertising their Easter meal packages that serve 8-10 people for $129 and include options like stuffed chicken breast, beef tips, or stuffed pork roast along with sides. The fish fry restaurant is promoting their Friday fish fry menu that includes options like battered cod, broasted chicken, shrimp, and ribs which come with sides like potatoes and coleslaw. They also offer lighter sandwiches and snacks daily from 11am to 9pm.
Finance Economics revisited, a primer (abstract) - MaverlinnOlivier Coispeau
This is the abstract of a presentation delivered by Olivier Coispeau in September 2015. The presentation highlights conditions for renewed economic and financial analysis.
Jordanian Entrepreneurship Ecosystem Assessment - 10/2017Jennifer Atala
I was contracted to design and implement a needs and stakeholder assessment of the Jordanian Entrepreneurship Ecosystem for an international client who was awarded the EU contract to develop and implement the Jordanian Action for the Development of Enterprises (JADE) Project. These slides represent a summary of my research, findings, and recommendations as presented to an audience in early 2018.
1) The document provides information on Hong Kong's startup ecosystem, including statistics on the number of startups, founders, sectors, accelerators, and public funding programs available.
2) It highlights events from StartmeupHK Festival 2017, including venture forums on retail technology, fashiontech, smart cities, and fintech.
3) Contact details are provided for StartmeupHK, the organization that promotes Hong Kong as a startup hub and connects entrepreneurs through events like the annual festival.
UkraЇnvest is a framework developed by a public initiative volunteers for creating a nationwide Investment Promotion Agency which offers a full range services for foreign investors
Hong Kong is a leading FinTech hub in Asia, with the FinTech sector accounting for 17.6% of GDP and 6% of the workforce. It is home to 75 of the world's largest 100 banks and is the #1 asset management hub in Asia. Hong Kong has over 130 FinTech startups and hosts numerous FinTech events and accelerators each year. The government actively supports the FinTech sector through initiatives like the FinTech sandbox and liaison offices, as well as funding for R&D and talent training. Hong Kong's position provides FinTech companies access to the China and Asian markets as well as regions along the Belt and Road initiative. Key FinTech sectors include cybersecurity, RegTech, wealthtech
Stefano Neri, Chairman and CEO of Italeaf, discusses the company's experience establishing operations in Hong Kong to bridge connections between Western and Eastern markets. Italeaf uses its facilities and expertise to support cleantech companies and has established a joint venture called WSAVE in China to commercialize an Internet of Things solution that saves over 20% of energy usage in buildings. While Hong Kong provides advantages as a location and facilitator for partnerships, Italeaf also faces weaknesses like high costs, legal protection issues, and a perception focused more on commerce than research and development.
Global Startup Platform_Market Research Report_2012Vasily Ryzhonkov
Global Startup Platform. Marketing Research Report. Version 4.0.
80+ pages of analysis and research, 4 online surveys analyzed, 9 reports from BCG, Startup Genome Project, Global Entrepreneurship Monitor, Opora Report, Yandex Report, TNS Report are analyzed.
New results are found.
Market Size Estimation for Russia is calculated.
This document summarizes China's growing investments abroad and the opportunities and challenges they present. It discusses China's investments in countries like the US and France. The main reasons for China's global investments are to access new markets, acquire technology and skills, and develop capabilities to better compete at home. However, challenges include concerns about China's legal and financial systems as well as a lack of experience operating overseas. Both opportunities like new jobs and markets and continuing challenges around transparency and technology transfer were presented.
Mr. Uri Adoni, Partner at JVP - Winning the Future trough Innovation Quantum Leap
Uri Adoni gave a presentation about JVP, an Israeli venture capital firm, and the Israeli high-tech industry. JVP has built over 95 companies since 1993 with $17 billion in total transaction value. They take a unique approach to investing through funds, an incubator program, and strategic partnerships. Major investment themes for JVP include digital media, next-generation storage/infrastructure, and cybersecurity. Israel has the highest density of startups in the world due to factors like its diverse ecosystem, government incentives, and entrepreneurial culture. Major trends highlighted were the importance of individuals, smart mobility, cloud computing, the internet of things, and analytics.
Presentation given by Szymon Radziszewicz, IFAC Senior Technical Manager, during a seminar on the IFAC and the accountancy profession at the Philippines Institute of Certified Public Accountants.
Scope:
* Should Chinese banks expand globally? And how?
* Secondary and primary research
Findings:
* Global expansion is not an obvious case
* Long term benefits vs. immediate opportunity costs
* Large gap in capability for globalization
Recommendations:
* Understand yourself
* Set clear goals
* Chart the journey step by step: Learn, Diversify, and Grow Globally
The document describes Metric India Art Fund (MIAF), which aims to build and finance the art industry. MIAF will operate as both an investor in artworks and a structured fund manager investing in the art sector. It will focus on taking advantage of the untapped art market in India and bridging the gap between financial markets and art as an asset class. MIAF will make investments across private equity, public equity, and liquid funds based on criteria like management strength, barriers to entry, and clear exit strategies.
Virtual Business Incubator Framework for Enriching Innovation Ecosystem 2013Vasily Ryzhonkov
The main purpose of this work is to find possible solutions for overcoming challenges of existing business incubation models. The end goal is to provide practitioners with the model of economic development tool which will help them to build new generation of business incubators, e.g. to guide management teams, policy makers, entrepreneurs and educators in establishing a successful business incubation program (BIP). Eventually the model intends to expand the limits of existing business incubation models.
Yinglan Tan is an expert speaker on innovation and entrepreneurship in China. He has spoken at many major conferences and companies. As a summary:
- Tan is an adjunct professor who has educated at Harvard, Stanford and Carnegie Mellon. He advises venture capital funds and startup boards in Asia.
- He is an in-demand speaker who discusses topics like financing startups creatively, how Chinese companies innovate successfully, and lessons from Chinese entrepreneurs.
- Tan's speaking draws from his research and interviews with innovators in China to dispel myths and provide practical advice for multinationals working with China.
The document discusses repositioning strategies for Malaysian companies' internationalization. It proposes three key points:
1) Malaysian exporting companies have a different initial position than Western companies due to factors like "psychic distance". Nearby countries like Indonesia may be more psychically close potential markets.
2) A low-price strategy is commonly used but not necessarily the main competitive advantage. Other factors like quality and innovation are important.
3) Fifteen internationalization triggers can be allocated among four strategic positions based on importance to competitive advantage, including low/high price and volume. Position 2 (low price, low volume) is not sustainable long-term.
LEAP is a cross-border investment firm that connects investors and deals between China and the US. It has a team of professionals with experience in China and the US. LEAP provides services such as raising capital from Chinese HNWIs for US funds, facilitating Chinese acquisitions of US businesses, and developing investment products. It has a competitive advantage through its network of over 200 clients/alumni in China and relationships with US financial institutions. There is increasing demand and feasibility for LEAP's services due to growing Chinese investment overseas and lack of competitors in cross-border dealmaking between the two countries.
This document proposes a partnership between Co-Win Venture Resources, a Chinese co-investment firm, and a U.S. partner. It outlines opportunities for recruiting Chinese investors, establishing a co-investment fund focused on U.S. companies expanding into China, and leveraging each partner's strengths to support portfolio companies. Challenges recruiting Chinese clients and finding cross-border investment opportunities are also discussed. An action plan is proposed to further discuss partnership details and opportunities beyond the co-investment fund.
Trade missions and firm internationalizationHuub Ruel
This presentation points out why trade mission effectiveness research failed to establish robust outcomes. Trade mission research considers it as a static standardized event and does not look into the dynamics of trade missions. Furthermore it ignores firm characteristics and the preparation and follow up stage. Trade mission research needs to be revamped and innovated by using a diverse set of theoretical lenses as well as using process theories to capture the dynamics of trade missions. Furthermore, research needs to go beyond the tangible outcome focus and pay attention to the internationalization learning experience of participating firms.
This document discusses Scottish Enterprise's research on and policies targeting high growth firms in Scotland. Some key findings include that high growth firms contribute disproportionately to job creation and economic growth despite making up only 2.5% of firms. Leadership skills were found to be a core component of what enables firms to achieve high growth. Scottish Enterprise's policies focus on developing leadership and management skills in firms, supporting ambitious growth plans, and improving firms' customer focus, marketing, and sales abilities. Future research plans include measuring leadership skills in supported firms and assessing the impact of leadership on firm performance.
Investment and growth in China (abstract) - MaverlinnOlivier Coispeau
- China has experienced impressive economic growth over the past 30 years, with its GDP increasing at an average of 7.1% annually. However, investment as a percentage of GDP has remained very high between 47-49% in order to sustain growth.
- The Chinese stock market performance has become decoupled from GDP growth since 2009, showing the fragile structure of Chinese markets. This was exacerbated by the 2012 fraud scandal of Xintadi Bio-Tech, which halted Chinese IPO activity.
- With few exit options, mergers and acquisitions have become an increasingly important strategy for private equity in China. One example is Shuanghui's $4.7 billion acquisition of Smithfield Foods in 2013
This document contains advertisements and menus for several local businesses in Wisconsin, including a catering company and fish fry restaurant. The catering company is advertising their Easter meal packages that serve 8-10 people for $129 and include options like stuffed chicken breast, beef tips, or stuffed pork roast along with sides. The fish fry restaurant is promoting their Friday fish fry menu that includes options like battered cod, broasted chicken, shrimp, and ribs which come with sides like potatoes and coleslaw. They also offer lighter sandwiches and snacks daily from 11am to 9pm.
This document provides contact information for ad design services, including a phone number and email address. The same information is repeated multiple times, with Frances Drew listed as the contact at 860-645-9795 and francesdrew@cox.net for ad design services by phone or email.
Connecticut Blues Society Quarterly NewsletterFrances R. Drew
Jr. Krauss & The Shakes won the 10th Annual Connecticut Blues Challenge. They will represent Connecticut at the International Blues Challenge in Memphis in January. The competition included 6 finalist bands that were judged on blues content, talent, originality, and stage presence. Jr. Krauss & The Shakes will receive $1,500 to help cover costs of traveling to Memphis.
This document summarizes the Connecticut Blues Society's 2006 Blues Challenge Preliminary competition. It provides details on the 30 blues bands that participated, the 6 bands that were selected as finalists, and the judges that evaluated the bands. It also recognizes the volunteers and sponsors that helped organize the preliminary competition events over 6 weeks at Black-eyed Sally's blues club.
The China Compass - Figures, Forecast and Analysis - January 2014William Dey-Chao
The 7-member Standing Committee of the Politburo is the highest decision-making body in China
Source: PRC government website; The Beijing Axis Analysis
The Beijing Axis 13
The new leadership has outlined an ambitious reform agenda to shift China
towards a more sustainable growth model
Key Elements of China’s Reform Agenda
Political Reforms
Economic Reforms
Social Reforms
- Rule of law
- Constitutional reform
- Separation of powers
- Grassroots democracy
- Transparency
- Anti-corruption drive
- Market-based allocation of
resources
- Interest rate liberalisation
- Exchange rate flexibility
- SOE reform
- Private
The Beijing Axis has just released The China Compass - August 2012, a publication that: combines basic country data of China, as well as other major world economies, with more detailed analysis of a wide range of macroeconomic and social data; presents a comprehensive picture of the ever-changing and evolving Chinese landscape; contains up-to-date statistics, topical themes and insights; and is presented in a reader-friendly format as a useful desk reference for executives with a China agenda. Available for download now from The Beijing Axis website.
Kobus van der Wath, Founder and Group Managing Director of The Beijing Axis, presented on 'China and Asia's Role in Africa's Mining Future' during the Investing in African Mining Indaba conference in Cape Town, 4 February 2014.
This is an update of the 2012 presentation at https://www.slideshare.net/WorldResources/emerging-actors-in-development-finance-a-closer-look-at-chinas-overseas-investment
When it comes to overseas development finance, China is definitely a country to watch. Due to the country’s unprecedented economic growth, China’s overseas investments have increased exponentially in recent years. Between 2009 and 2010, two Chinese state-owned banks lent more money to other developing nations than the World Bank did. In fact, between 2002 and 2011, China’s outward foreign direct investment (OFDI) stock grew from $29 billion to more than $424 billion.
But what factors are driving all of this growth? What areas of the world are on the receiving end of China’s OFDI flows? And what sorts of social and environmental standards are in place for banks’ and enterprises’ investments? WRI answers these questions and many more in its recently updated powerpoint presentation "Chinese Development Finance: A Closer Look at Chinese Sustainable Finance."
This presentation was held during the 5th GIB Summit, May 27-28 2015.
The presentation and more information on the Global Infrastructure Basel Foundation are available on www.gib-foundation.org
The document discusses ASEAN economic integration and implications for exporters. It provides background on ASEAN, including its founding, members, and goals of economic growth and regional stability. It then discusses why ASEAN is important for US trade and investment, detailing two-way trade levels and US FDI in ASEAN countries. The document outlines ASEAN's plans for economic, political, and socio-cultural integration by 2015 to increase competitiveness and benefit the region. It also discusses some challenges to integration from businesses and mechanisms for US cooperation with ASEAN.
Asian infrastructure investment bank (aiib) biondi simaBiondi Sima
The slides underscore the enormous investment needs in Asian countries, particularly in infrastructure projects, and how the newly pronounced Asian Infrastructure Investment Bank can go about filling the gap.
Graphs are retrieved from: http://www.asifma.org/uploadedFiles/Events/2014/Annual_Conference/Closed%20Door%20Regulator%20Meeting%201%20-%20Infrastructure%20Financing%20-%20Michael%20Cooper%20HSBC.pdf
China is implementing sweeping environmental reforms such as a greenhouse gas emissions trading scheme for polluting power plants. It has also banned waste imports from other countries. As a major recycler previously, this has put Western nations into crisis mode.
China has also become a driver in the global green bonds market. An expert notes China continues to see strong growth, and those who spend time researching and understanding the country will see why.
The roundtable discussion covered opportunities in private debt and rules of law in China, developments in the finance sector including stock connects, new regulations, and Chinese fund managers' risk management.
Sustainable Investment in Sub-Saharan Africa - IFCasafeiran
This report examines sustainable investment in private equity and asset management in South Africa, Nigeria, and Kenya. It finds that over half of 160 investment professionals interviewed acknowledge a link between environmental, social, and governance factors and long-term investment performance. However, a lack of data and understanding of how to evaluate corporate sustainability often prevents investors from allocating more funds to sustainable investments. The report provides five recommendations to stimulate more sustainable investment in sub-Saharan Africa over the next five years, including using the language of investors, streamlining sustainability reporting, leveraging local knowledge, and making the investment case for sustainable investments.
The APEC Summit is over for another year. Indonesia proved to be an excellent host, managing the logistics of the event very smoothly (they built a whole new airport and toll road to coincide with the occasion). They also managed to achieve some tangible outcomes from the Summit - which in itself is impressive - from a Summit that many critics deride as a talking-shop low on substance. Journalists were also suitably impressed, receiving free massages as well as free food. To top it off, the President of Indonesia, Susilo Bambang Yudhoyono, even surprised President Putin, (and everyone else), by picking up a guitar and singing a birthday serenade to the Russian President. No one can say Indonesia was not a hospitable host!
APEC 2013 was held in Bali, Indonesia. Key outcomes included:
1. Commitments to reduce protectionism and make progress on free trade agreements like the TPP and upcoming WTO talks.
2. Agreements to boost infrastructure connectivity through public-private partnerships and new funds from China and Japan.
3. China's influence grew as the US was absent, though the US still maintains relevance through trade deals. Geopolitical maneuvering between the US, China, and others continued over trade agreements.
4. While some progress was made, challenges remain around completing the TPP and resolving issues between members. Interplay between regional trade blocs like APEC, ASEAN, and the W
This document provides information about the fifth annual TXF Africa conference taking place on 28-29 April 2020 at the Sofitel Abidjan Ivoire hotel in Cote d'Ivoire. It lists corporate and individual sponsors of the event and gives statistics about past attendance. The content will include panels on opportunities in various African industries, updates from countries like Cote d'Ivoire and Ghana, fostering intra-African trade through agreements like AfCFTA, and results from a conference audience survey. Panelists will represent organizations like the African Development Bank, EXX Africa, Olam, and various government officials.
The document is the Africa Competitiveness Report 2013 published jointly by the World Economic Forum, World Bank, African Development Bank, and Ministry of Foreign Affairs of Denmark. It provides an overview and assessment of Africa's competitiveness based on collaboration between these organizations. The report finds that while Africa has experienced strong economic growth, it needs to translate this into improved living standards. It highlights areas for policy action and investment to ensure sustainable and inclusive growth through increased regional integration and connecting Africa's markets.
ICA report identifies impact of funding on Africa’s infrastructure developmentilse nunley
The completion of Infrastructure Financing Trends in Africa – 2016 marks another milestone for the Infrastructure Consortium for Africa (ICA) in its consistent reporting of the mobilisation of financial resources to facilitate the development of the continent’s transport, water and sanitation, energy and ICT sectors. This report identifies key trends and looks to explain the processes and dynamics driving and restraining them and highlights emerging trends. This ICA flagship report was prepared by the ICA secretariat consisting of Mohamed Hassan, Callixte Kambanda, Katsuya Kasai, Banda Lufeyo, Mohamed Tani, and Dhaker Boubaker in co-operation with Cross-border Information consisting of Lauren Andrews, David Burles, Nick Carn, Mark Ford, Irina Gaubinger, Daniel Haines, David Slater and Ajay Ubhi who were commissioned by the ICA secretariat. https://public.sif-source.org/mdbs-infra-news/ica-report-identifies-impact-of-funding-on-africas-infrastructure-development/
How China is influencing Africa's Developmentasafeiran
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Tba on sino africa relationship - picc&hollard - 5 dec 2012 - final ho
1. Page 1
www.thebeijingaxis.com
Opportunity, Risk and Risk Management
in Africa
(PICC and Hollard Insurance)
Beijing, 05 December 2012
The Sino-Africa Relationship and Its
Future Evolution
Haiwei Huang
AssociateDirector
The BeijingAxis
China-focused
InternationalAdvisoryand Procurement
The Beijing Axis 1
Disclaimer
This document is issued by The Beijing Axis. While all reasonable care has been taken in the preparation of this
document, no responsibility or liability is accepted for errors or omissions of fact or for any opinions expressed
herein. Opinions, projections and estimates are subject to change without notice. This document is for
information purposes only, and solely for private circulation. The information contained here has been compiled
from sources believed to be reliable. While every effort has been made to ensure that the information is correct
and that the views are accurate, The Beijing Axis cannot be held responsible for any loss, irrespective of how it
may arise. In addition, this document does not constitute any offer, recommendation or solicitation to any person
to enter into any transaction or to adopt any investment strategy, nor does it constitute any prediction of likely
future movements or events in any form. Some investments discussed here may not be suitable for all investors.
Past performance is not necessarily indicative of future performance; the value, price or income from
investments may fall as well as rise. The Beijing Axis, and/or a connected company may have a position in any
of the investments mentioned in this document. All concerned are advised to form their own independent
judgement with respect to any matter contained in this document.
The Beijing Axis 2
The Beijing Axis’ Knowledge & Network Synergies
BeijingAxis
Commodities
• Commodity Marketing
• Commodity Procurement
BeijingAxis
Capital
• Transaction Origination
• Corporate Finance
Advisory
BeijingAxis
Procurement
• Comprehensive
Procurement Solutions
BeijingAxis
Strategy
• Strategy Formulation
• Strategy Implementation
• Founded in 2002; has successfully worked with many international and Chinese MNCs
• Operates in four synergistic cross-border China businesses
• Provides services across various sectors, with a core focus on the MINING, RESOURCES, INDUSTRIALENGINEERING and
OTHER SERVICES sectors
• Provides solutions to international firms as they act in unfamiliar territory in China/Asia
• Provides solutions to Chinese/Asian firms as they venture out and ‗go global‘
The Beijing Axis - China-focused International Advisory and Procurement
The Beijing Axis 3
Africa Axis - Africa-focused International Advisory and Procurement
• Founded in 2010; has successfully worked with many international and African MNCs
• Operates in four synergistic cross-border African businesses
• Provides services across various sectors, with a core focus on the MINING, RESOURCES, INDUSTRIAL, ENGINEERINGand
OTHER SERVICES sectors
• Provides solutions to international/African firms as they go global
• Provides solutions toAsian/International firms as they venture into Africa
Africa Axis’ Knowledge & Network Synergies
AfricaAxis
Commodities
• Commodity Marketing
• Commodity Procurement
AfricaAxis
Capital
• Transaction Origination
• Corporate Finance Advisory
AfricaAxis
Procurement
• Comprehensive
Procurement Solutions
AfricaAxis
Strategy
• Strategy Formulation
• Strategy Implementation
The Beijing Axis 4
Key global factors
Source:The Beijing Axis Analysis
The backdrop
• China‘s rise … labour market and supply shock as a producer … engine as a consumer … investor
• New competitivelines and forces, winners/losers – the rise of Asia, BRICS, etc.
• A two-speed global economy over the medium and long term
• A lasting GDP trajectory in Asia, Africa and Latin America – governance, growth, stability, infrastructure, confidence,
etc.
The issues now
• Europe broken … fragile developed markets – and knock-on effects?
• China‘s landing – soft or hard? Implications for growth and resource demand?
• Tapping into the China story vs. over-reliance on China and need to diversify economic ties
• Strategic intelligence – to make decisions in boardrooms around the world in order to reposition
The Beijing Axis 5
Africa‘s economic fundamentals and current global position reflect its
potential for long term economic growth and development
Source: IMF; UNCTAD; The Beijing Axis Analysis
0%
20%
40%
60%
80%
100%
World GDP 2010World GDP 2010 Developing
Countries GDP
2010
Africa GDP
2010
Africa GDP
2010
Africa GDP
2010
Africa GDP
2010
Africa GDP 2010
USD 63 tn USD 63 tn USD 22 tn USD 1.6 tn
Europe
North
America
Asia
Africa
Mid-East
Africa
Developing
Countries
(excl. Africa)
Developed
Countries
Africa
Developing
Countries
(excl. Africa) Africa
South
Africa
Egypt
Nigeria
Algeria
Angola
Kenya
Others
Ghana
Tanzania
Northern
Africa
Southern
Africa
Western
Africa
Central
Africa
Eastern
Africa
Primary
Industry
Secondary
Industry
Tertiary
Industry
Private
Consumption/
Expenditure
Gross Capital
Formation
Government
Consumption/Expenditure
Net Exports
USD 1.6 tn USD 1.6 tn USD 1.6 tnUSD 1.6 tn
Breakdown of Africa’s Share in the Global Economy (USD tn, 2010)
Lat Am
2. Page 2
The Beijing Axis 6
Top 30 Countries Ranked by Average GDP Growth (%,
2007-2011)
Source:IMF; The Beijing Axis Analysis
Africa is home to some of the fastest growing economies in the world
16.6
11.8
11.2
10.5
10.5
10.0
9.7
9.2
9.1
8.9
8.8
8.7
8.3
8.1
8.0
7.9
7.8
7.4
7.4
7.3
7.1
7.0
6.9
6.9
6.8
6.8
6.7
6.6
6.5
6.5
0 5 10 15 20
Qatar
Timor-Leste
Turkmenistan
China
Afghanistan
Azerbaijan
Ethiopia
Bhutan
Angola
Panama
Equatorial Guinea
Uzbekistan
Mongolia
India
Ghana
Laos
Malawi
Rwanda
Uganda
Papua New Guinea
Peru
Nigeria
Argentina
Mozambique
Tanzania
Lebanon
Tajikistan
Vietnam
Sri Lanka
Zambia
African Countries
Other Countries
Of the 30 fastest
growing economies
over the past five
years, 11 are in Africa
18.8
17.3
14.7
13.6
10.6
10.6
9.9
9.3
9.3
9.2
8.9
8.9
8.8
8.7
8.5
8.3
8.3
8.2
8.2
7.8
7.6
7.5
7.5
7.4
7.4
7.2
7.2
7.1
7.1
7.0
0 5 10 15 20
Qatar
Mongolia
Turkmenistan
Ghana
Timor-Leste
Panama
Iraq
Solomon Islands
Zimbabwe
China
Papua New Guinea
Argentina
Rwanda
Eritrea
Turkey
Uzbekistan
Laos
Sri Lanka
Kuwait
Ecuador
Estonia
Ethiopia
Kazakhstan
Tajikistan
Maldives
India
Nigeria
Equatorial Guinea
Mozambique
Georgia
African Countries
Other Countries
Top 30 Countries Ranked by GDP Growth (%, 2011)
2011 saw a similar
picture, with some
countries (Ghana and
Rwanda) accelerating
their growth, and others
(Zimbabwe and Eritrea)
joining the top 30
The Beijing Axis 7
Agenda
1. Political and Economic Aspects of the Sino-Africa Relationship
2. China‘s Outbound Investments into Africa‘s Resource Sector
3. The Future Trajectory of Sino-Africa Relations
4. Final Word
The Beijing Axis 8
China-Africa relations have steadily progressed through three distinct
phases. The current phase is mainly driven by China's increasing need for
resources and Africa's need to modernise
Phases of Sino-African Relations
Source: Variuos;The Beijing Axis Analysis
Political Phase
(1950s – mid-1970s)
Dormant Phase
(mid 1970s – late 1990s)
Commercial Phase
(2000s – present)
• Non-Aligned Movement
• African post-colonialism
• PRC vs. Taiwan recognition
• Recognition by China of newly
independent African states
• Foreign aid by China in return for PRC
(vs. Taiwan) recognition
• Mutually-beneficial UN voting support
Phase
Drivers
Examples
• China occupied with post-1978 ―Open-
Door Policy‖ and economic reforms
• Heavy competition for African influence
from US and USSR
• Slowly rising Chinese exports of light
industry production (garments, textiles,
toys)
• Small, trade driven deals mainly with
private Chinese firms
• China‘s demand for raw materials and
other resources
• China‘s quest for new markets for its
goods and services
• China‘s quest for international influence
via OFDI, aid, mediation / UN votes
• FOCAC, CAD Fund
• Government-to-government resource
deals
• Resources for infrastructure
• Long term financing with no strings
attached
• Chinese EPCs in Africa‘s infrastructure
build-up
The Beijing Axis 9
China-Africa relations have accelerated in the last decade, with Chinese
high-level diplomatic visits to Africa often preceding heightened trade,
investment, loans and aid
Key Phases of China-Africa Relations
Source:Various;The Beijing Axis Analysis
1999:China initiates
its ‗going out‘ policy
1999:Chinese presidentsends
letter to African presidentsand
Organization forAfrican Unity to
establish ministerial conference
2000:First Forum on China-
Africa Cooperation(FOCAC)
held in Beijing
2002:Ethiopia hosts China-
Africa meeting of senior officials
2003:FOCAC
meeting held
2004:China-SouthAfrica Bi-
National Commission (BNC) held
to strengthenties
2005:China and the United Nations Development
Programmelaunch the China-AfricaBusiness
Council
2001:China admitted to World
TradeOrganization
1999 2000 2001 2002 2003 2004 2005
2006 2007 2008 2010 2011
2006:First China-
Africa Business
Council held
2007:China-AfricaDevelopment
Fund (CAD Fund)established to
assist Chinese investment in Africa
2007:Chinese bank ICBC
takes 20% equity stake in
Africa‘s largestbank,Standard
Bank
2008:CAD fund
makes its first deal
2008:Banneryear for Chinese
investment in Africa,with total
trade topping USD 100 billion
2009:CAD Fund opens
first officein Africa, in
South Africa
2009:Chinese
President Hu Jintao
makes 6th diplomatic
visit to Africa
2010:China extendszero-tariffpolicy
to 454 goods for 30 African countries
deemed ‗least developed‘
2009:Fourth FOCAC Ministerial
Conferenceheld in Egypt
2011:Chinese Foreign Minister,Yang Jiechi,
visits five African countries
2011:Press reportsthat China‘s policy banks—China
Development Bank and China Exim Bank—loanedmore to
the developing world than the World Bank since 2008
2009
5th FOCAC
in 2012
The Beijing Axis 10
Africa’s Top 20 Trade Partners (USD bn, 2010)
Source: UN Comtrade;The Beijing Axis Analysis
A number of Africa's most important trade partners are from Asia, with China
being the largest one
67
87
31
41
31
22
29
16
15
12
6
11
9
6
8
10
5
2
1
3
60
28
35
23
18
27
14
15
15
12
16
9
10
9
6
3
5
7
7
5
0 20 40 60 80 100 120 140
China
US
France
Italy
India
Germany
Spain
UK
Netherlands
Japan
S. Korea
Brazil
Belgium
Turkey
UAE
Canada
Portugal
Thailand
Singapore
Malaysia
Import from Africa
Export to Africa
In 2011, the total trade value
between China and Africa
reached USD 166 bn, with
imports and exports accounted
for 56% and 44% respectively
In 2011, the total trade
value between the US and
Africa was USD 127 bn,
with imports and exports
accounting for 75% and
25%, respectively
Asian Countries
India is second-
largest among
Asian countries
The Beijing Axis 11
5.6
67.1
5.0
59.8
0
10
20
30
40
50
60
70
80
2000 2010 2000 2010
China Trade with Africa (USD bn, 2000, 2010)
Source: UN Comtrade;The Beijing Axis Analysis
India Trade with Africa (USD bn, 2000, 2010)
While both Chinese and Indian trade with African countries has risen
dramatically in the last decade, China significantly outperforms India in terms
of Africa trade volumes
3.5
31.4
2.2
17.9
0
5
10
15
20
25
30
35
2000 2010 2000 2010
Imports Exports Imports Exports
In 2011, the
imports value was
USD 93.2 bn
In 2011, the
exports value was
USD 72.9 bn
3. Page 3
The Beijing Axis 12
0 5,000 10,000 15,000 20,000 25,000
Resources
Electrical Equipment & Machinery
Textiles and Footwear
Metal & Products
Others
15,000 10,000 5,000 0
South Africa
Angola
Sudan
Nigeria
Egypt
Morocco
Algeria
Libya
Congo
Benin
China’s Trade with Its Top 10 African Trading Partners (USD mn, 2011)
Note: The top ten countries comprise more than 76% of China‘s total tradewith Africa
Source:UN Comtrade;The Beijing Axis Analysis
China‘s trade relationship with Africa is characterised by importing raw
materials from Africa in return for Chinese manufactured goods
Chinese Imports
2011 USD mn
Chinese Exports
2011 USD mn
The Beijing Axis 13
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
CobaltOre
('000tons)
Aluminium
(mntons)
Nickel
('000tons)
IronOre
(mntons)
Platinum
('000oz)
ChromeOre
('000tons)
CopperOre
('000tons)
ZincOre
('000tons)
Manganese
Ore…
Demand Production
China’s Implied Demand and Domestic Production
of Commodities (2010)
0
50,000
100,000
150,000
200,000
250,000
300,000
92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10
Exports Imports
Source:USGS; BP; WGC; USDA; Various;The Beijing Axis Analysis
China’s Mineral Product Imports and Exports (USD
mn, 1992-2010)
China‘s demand outstrips domestic supply across a number of
commodities. As a result, imports are needed to compensate for the deficit
The Beijing Axis 14
Raw material producers around the world are benefiting from this trend -
Africa is a key supplier of these raw materials to China
Note: The number inside the dotrepresentsthe importer‘s worldrank
Source:UN Comtradedatabase;The Beijing Axis Analysis
1
2
3
4
5
1
2
3
4
5
1
2
3
4
5
1
2
3
4
5
3
2
1
4
5
1
2
3
4
5
China
1
2
3
4
5
1
2
3
4
5
Copper Ore
Zink Ore
Nickel Ore
Bauxite
Lead Ore
Chrome Ore
Platinum
Manganese
Crude Oil
Iron Ore
Coal
12
3
4
5
1
2
3
4
5
1
2
3
4
4
The Beijing Axis 15
Africa is a key supplier of cobalt, manganese, chromium, platinum and
crude oil to China
China’s Imports of Selected Commodities from Africa (USD bn, 2001-2011)
Note: Bubble size is basedon the commodity‘s shareof China total commodity imports from Africa in 2011
Source:UN Statistical Database;The Beijing Axis Analysis
CAGR 2001-2011
-20%
0%
20%
40%
60%
80%
100%
0% 20% 40% 60% 80% 100%
China’s imports from Africa as a % of total world imports in 2011
Cobalt Ore
Ferroalloys
Nickel Ore
Petroleum Gases
ElectronicsStainless Steel
PlatinumCrude Oil
Copper Ore
Chromium OreManganese Ore
Diamonds
Iron Ore
Wood
Tobacco
Cotton
- High growth rate
- High volume
- Highest growth
- High volume
- Most strategic
- 95% of China‘s imports
come from Africa
The Beijing Axis 16
A more in-depth view of China‘s import structure from Africa is attainable
after excluding oil
China’s Imports of Selected Commodities from Africa, excl. Crude Oil (USD bn, 2001-2011)
Note: Bubble size is basedon the commodity‘s shareof China total commodity imports from Africa in 2011
Source:UN Statistical Database;The Beijing Axis Analysis
CAGR 2001-2011
-20%
0%
20%
40%
60%
80%
100%
0% 20% 40% 60% 80% 100%
China’s imports from Africa as a % of total world imports in 2011
Cobalt Ore
Ferroalloys
Nickel Ore
Petroleum Gases
ElectronicsStainless Steel
Platinum
Copper Ore
Chromium OreManganese Ore
Diamonds
Iron Ore
Wood
Tobacco
Cotton
- Most strategic
- 95% of China‘s imports
come from Africa
- High growth rate
- High volume
- Highest growth
- High volume
The Beijing Axis 17
The upshot
• China‘s engagement withAfrica is partiallyresponsiblefor Africa‘sdynamic growth over the past
decade
• Sino-Africarelationshave strengthened in the last decade,with high-levelChinese diplomatic visits
to Africa often precedingheightenedtrade, investment,loans and aid
• While China‘s role in Africa trade outperformsthose of otherAsian nations,it still mostly focuseson
the resourcesector
• Continuous and robust domesticconsumption will drive growth moving forward – China will retain
its influencein resource demand even as its growth rate slows
4. Page 4
The Beijing Axis 18
Agenda
1. Political and Economic Aspects of the Sino-Africa Relationship
2. China’s Outbound Investments into Africa’s Resource Sector
3. The Future Trajectory of Sino-Africa Relations
4. Final Word
The Beijing Axis 19
0 50 100 150 200 250 300 350
US
Japan
UK
France
Hong Kong
Belgium
Switzerlnd
Russia
China
Virgin Is.
Germany
Canada
Italy
Spain
Netherlands
Austria
Sweden
Singapore
Denmark
S. Korea
World’s Top 20 Outward FDI Originators, Flows
(USD bn, 2011)
29.9 33.2 44.8 57.2
90.6
117.8
184.0
245.8
317.2
383.4
560.0
0
100
200
300
400
500
600
02 03 04 05 06 07 08 09 10 11 15F
Flows Stock
*Note: China OFDI flowsfor 2011do not include financial investments from September-December2011
Source:WIR 2011;The Beijing Axis Analysis
China OFDI Stock and Flows (USD bn, 2002-2015F)
China was the world‘s ninth-largest investor in 2011, ahead of other Asian
countries, except for Japan. China‘s OFDI stock is expected to reach USD
560 billion by 2015
China ranked 6th in 2009
China ranked 13th in 2008
and 2007
China ranked 5th in 2010
China ranked 18th in 2006
In 2011 alone, China invested in
1,392 overseas projects in 132
countries
In 2011, China‘s ranking
slipped to 9th overall, as the
Euro debt crisis discouraged
investment in the region
The Beijing Axis 20
0
20
40
60
80
2004 2005 2006 2007 2008 2009 2010 2011E
Others
Leasing & Commercial Service*
Banking and Insurance
Wholesale & Retail Trade
Transport, Storage and Postal Service
Manufacturing
Mining
Breakdown of Overseas Investments by Sector (USD
bn, 2004-2011E)
31%
28%
17%
10%
5%
9%
Iron Ore
Copper
Aluminium
Platinum
Exploration
Others
*Note: Commercial services include investments in holding companies,regional headquartersor SPVs that are often establishedin offshorecentresto invest in other countries and sectors
Source:MOFCOM;The Beijing Axis Analysis
Value of China’s Mining and Metals Investments by
Commodity (2011E)
China’s investments in chrome, nickel, and manganese are still very
small compared to other commodities
Resources occupy a key position in China‘s OFDI story – Taking into
account the SPVs, the mining industry ranks high in overall investments
The Beijing Axis 21
OFDI Stock in Africa by Source (USD bn, 2009)
Source:UNCTAD; The Beijing Axis Analysis
China already has a major role in Africa. It has invested much more in Africa
compared to Japan, although China still trails behind some of the traditional
colonial powers
0 10 20 30 40 50 60 70
UK
France
US
Netherlands
Switzerland
China
Italy
Spain
Japan
Canada
Denmark
Turkey
Ireland
Other OECD
Official Japanese OFDI
stock in Africa: USD 5.7 bn
Official Chinese OFDI
stock in Africa: USD 9.3 bn
Asian Countries
Other Countries
The Beijing Axis 22
Major Chinese Loans, Grants, and Development Aid in Africa (2002-2010)
Source:Overseas DevelopmentInstitute; CongressionalResearch Service; The Beijing Axis Analysis
Apart from equity investments, China funds a significant number of key
projects in Africa via grants, loans and export credit lines
Country Project Type Value (USD mn) Financing Aid Type
Angola
Extensive infrastructure in
energy and railways
7,400
Interest-free loans and
repayment in oil
Housing and related
infrastructure
3,500
Government-sponsored
investment
Safe drinking water 230 ConcessionalLoan, EXIM
DRC
Telecommunications 9.66 ConcessionalLoan, EXIM
Extensive infrastructure
from mining, roads,
railways, housing, medical
centres and universities
6,000
ConcessionalLoan,
repayment in future copper
and cobalt extraction
Mining infrastructure and
logistics
3,000
Government-sponsored
investment
Fiber optic 33.6 Preferential loan, EXIM
Mozambique Dam & plant infrastructure 2,300 Concessional loans
Uganda Government offices 20 Grants, donations
Tanzania ICT infrastructure 160 Concessionalloan, EXIM
Ethiopia
Infrastructure, hydropower,
public buildings
2,000 Loans, grants
Equatorial
Guinea
Not specified 2,000
Concessionalloans, credit
lines
Country Project Type Value (USD mn) Financing Aid Type
Nigeria
Offshore oil development,
railways, medical training
1,600
Debt cancellation,
investments and grants
Power plants and road
reconstruction
3,400
Government-sponsored
investment
Communications &
education program
100 Loan, EXIM
Kenya
Road construction 120 Concessionalloan, EXIM
Electricity 20.17 Concessionalloan, EXIM
Telecommunications 29.94 Concessionalloan, EXIM
Zambia
Dam infrastructure and
power station expansion
1,000 Concessionalloan, EXIM
Sports stadium 65 Grants, donations
Commerce 1,000 Concessionalloan, EXIM
Ghana
Infrastructure, education
and health programs
13,000
Concessionalloan, EXIM
and CDB
Gabon
Port, railway,
infrastructure, mining
3,000 Investments, grants
Sudan Oil production 4,200 Investments, loans, grants
During 2002-2007, China‘s economic assistance to
Africa amounted to USD 33bn. Of this, USD 17.8bn
went to infrastructure projects and USD 9.4bn to the
natural resource sector
The Beijing Axis 23Source: MOFCOM;The Beijing Axis Analysis
China‘s outward FDI into Africa is concentrated in a few countries. In 2010,
South Africa, DRC, Niger, Algeria, and Nigeria collectively accounted for
nearly 60% of Chinese OFDI in the continent
China’s OFDI Flows to Africa (USD mn, 2010)
0 50 100 150 200 250 300 350 400 450
South Africa
DRC
Niger
Algeria
Nigeria
Kenya
Angola
Zambia
Ethiopia
Ghana
Egypt
Botswana
Congo
Madagascar
Sudan
Liberia
Uganda
CAR
Tanzania
Gabon
Others
Account for 60% of
total OFDI
5. Page 5
The Beijing Axis 24
Africa’s Share of China’s OFDI Flows (USD mn,
2003-2010)
Source:Chinese Statistical Bulletin of OFDI; Xinhua; The Beijing Axis Analysis
Top 10 Sectors of China’s OFDI Stock in Africa (%,
2010)
China‘s total OFDI flow to Africa has risen dramatically since 2003, with
investments well diversified across a number of sectors
75
317 392 520
1,574
5,491
1,439
2,112
0
1,000
2,000
3,000
4,000
5,000
6,000
2003 2004 2005 2006 2007 2008 2009 2010
29%
22%16%
14%
6%
4%
3%
3% 3%
Mining
Manufacturing
Construction
Finance
Business Services
Wholesale & Retailing
Science, Technology and
Geological Exploration
Agriculture, Forestry, Animal
Husbandry and Fisheries
Others
2.6% 5.8% 3.2% 2.5% 5.9% 9.8% 2.6% 3%
The Beijing Axis 25
Note: Includes oil and gas
Note: The dots do notrepresenta particular investment, only focus countriesfor mining-relatedinvestments
Source:Various;The Beijing Axis Analysis
China is Asia‘s leading investor in Africa‘s mining sector. Recently, India
has been increasing its presence in the region
Focus Countries for Mining-related Investments in
Africa (2011)
Selected Major Chinese and Indian Players in Africa
China
USD 2 bn
(2010Investments inAfrica)
India
USD 1.5 bn
(2010Investments inAfrica)
China National Petroleum Corporation (CNPC) –Algeria,
Chad, EquatorialGuinea,Libya,Mauritania, Niger, Nigeria,
Sudan, andTunisia (oil andgas)
Sinosteel Corporation –South Africa, Zimbabweand
Cameroon(iron ore and steel)
JinchunanGroup (JNMC) – Zambia, Tanzania (nickel), South
Africa (platinum)
China NonferrousMetal Mining Corporation –Zambia
(copper)
Nava BharatVenturesLimited – Zambia (coal)
National MineralDevelopment Corporation – Senegal(iron
ore)
Essar Steel– Zimbabwe(iron ore andsteel)
VedantaResources –Namibia, SouthAfrica(zinc)
China Minmetals –South Africa(chromite, ferrochrome),
DRC (copper)
The Beijing Axis 26
Company Africa Role Africa Presence
China
Communications
Construction
CCCC‘s specialty is in transportation projects, yet in
Africa it also participates in more engineering-oriented
tasks, particularly those related to mineral extraction.
It is active in more African countries
(24) than any other Chinese firm
China State
Construction
Although a majority of its internationally earned
revenue originates in Asia, its 28.5 billion oil
refinery/petrochemical plant project in Nigeria awarded
in 2010 shows its tremendous potential in Africa.
Active in Algeria, Benin, Botswana,
DR Congo,Egypt, Ethiopia, Guinea,
Libya, Nigeria, Republic of Congo,
and Tanzania.
China Railway
Construction
Although its involved in a wide range of construction
projects on the continent (housing,railway, electrical
lines), its focus countries remain primarily in North
Africa.
Active in Algeria, Angola, Benin,
Ethiopia, Libya, Niger, Nigeria, and
Sudan
Metallurgical
Corporation of China
MCC ranks highly in international contracting, although
most of its attention has focused on Asia and Australia.
Recently, the companyhas been diverting more of its
attention toward Africa, particularly within the realm of
mineral extraction and beneficiation.
Active in Algeria, Angola, Egypt,
Ethiopia, Libya, Nigeria, and
Zimbabwe
Sinohydro
Although known for hydropowerand irrigation projects,
Sinohydro has also constructed many road projects in
Africa.
Active in Algeria Angola, Botswana,
DR Congo,Ethiopia, Gabon,Ghana,
Kenya, Libya, Mali, Mozambique,
Niger, Republic of Congo,Sudan,
Tanzania,Uganda,and Zambia
China National
Machinery Industry
It is one of the top international contractors for power
projects. Although most of its international revenues
are generated in Asia, the companyis very active in
many Africa countries, spanning various projecttypes
(housing,water plants, power plants, sugarplants).
Active in Angola, Botswana,
Cameroon,DR Congo,Gabon,
Ghana,Guinea, Ivory Coast, Kenya,
Liberia, Libya, Nigeria, Republic of
Congo,Senegal, Sierra Leone,
Sudan,Zambia, and Zimbabwe
Mapping of Chinese Contractors with Large
Presence in Africa
Note: CITIC Constructionis not featuredherebecauseits scope is limited to only two countriesin Africa, Algeria and Angola,and seemingly throughonly two projects.
Source:ENR; The Beijing Axis Analysis
Highlights of Chinese Contractors with Large
Presence in Africa
As China often secures access to mineral resources and oil in exchange for
infrastructure development, Chinese EPC companies have become
dominant in Africa
China Communications
Construction
China State
Construction
China Railway
Construction
MetallurgicalCorporation
of China
Sinohydro
China NationalMachinery
Industry
Some of China's EPC span
their scopeacross the
entire continent and
various sectors
The Beijing Axis 27Source:Various;The Beijing Axis Analysis
Apart from resources, China is setting up free economic zones across Africa
in order to supply various products to both local and international markets
China-sponsored Free Economic Zones in Africa Highlights
• Ogun Free Trade Zone (Nigeria)
Focus: construction materials, furniture and wood processing,
ceramics, ironware and electronic machinery
• Lekki Free Trade Zone (Nigeria)
Focus: light manufacturing, transport, telecommunicationand home
appliances
• Dukem Industrial Park (Ethiopia)
Focus: light manufacturing
• Chambishi Economic and Trade Cooperation Zone (Zambia)
Focus: mining industry (processing)
• Lusaka Economic and Trade Cooperation Zone (Zambia)
Focus: electronic component assembly and manufacturing
• Jinfei Economic and Trade Cooperation Zone (Mauritius)
Focus: light manufacturing
• More zones are planned in in the main financial and business hubs of
Sub-Saharan Africa, such as Johannesburg, Nairobi and Accra
Ogun Free Trade Zone
(2014-2015)
Nigeria
Ethiopia
Zambia
Mauritius
Lekki Free Trade Zone
(2014-2015)
Dukem Industrial Park
(2013)
Chambishi Economic and Trade
CooperationZone (2014)
LusakaEconomic and Trade
CooperationZone (2012)
Jinfei Economic and Trade
CooperationZone (2012)
• China‘s outboundcapital will continueto hit the headlines - Africa has not yet seen the full impact of
this
• Overseas investment is moving beyondtrade facilitation and natural resources, driven by an
increasing need to reach high-growth marketsand to pursueadvanced technologies.Link and align
these trends to the existing strategy
• Chinese investorsproceedingmore cautiouslyand are becoming more selectiveabout asset quality.
Valuation, cost escalation,operationsin unfamiliarjurisdictions, and operationalrisks are the major
concerns
• During the past decade,Chinese contractorshave captured an increasingshare of Africa‘s contracted
revenue, from as low as 7% in 2001 to as high as 38.7% in 2010, playing the dominant role on the
continent
• China‘s investmentsinto Africado not only carry a resourceagenda. China is setting up free
economiczones in Africa that span acrossvariousindustries,includinglight manufacturing,
constructionmaterials, transportand electrical machinery
The upshot
The Beijing Axis 29
Agenda
1. Political and Economic Aspects of the Sino-Africa Relationship
2. China‘s Outbound Investments into Africa‘s Resource Sector
3. The Future Trajectory of Sino-Africa Relations
4. Final Word
6. Page 6
The Beijing Axis 30
20,337
19,634
25,807
4,280
4,486
2,259
0
5
10
0% 5% 10% 15% 20% 25% 30% 35% 40%
Asia-Pacific
North America
Europe
Emerging economies are outperforming the developed world in terms of
economic growth. Asia is leading this transformation in the global balance
Regional GDP Comparison (USD bn, 2015F)*
*Note: Data based on IMF World Economic Outlook
**Note:Other Asia includes Bangladesh,Sri Lanka,Nepal, Pakistan, Bhutan,Burma, North Korea,Kazakhstan,Tajikistan, Turkmenistanand Uzbekistan.
Source:IMF 2012; The Beijing Axis Analysis
South America
Africa
Other Asia**
Developed economies are
expected to continue to lose
share in world GDP in the
coming years
Asia-Pacific is expected to
account for the largest share of
world GDP (34%) by 2015F
2011E to 2015F
2011E to 2015F
GDP Average Growth Rate (%, 2011E-2015F)
Forecast world
average GDP
growth until
2015F: 3.95%
% of World GDP (2015F)
Shaded bubbles represent
2011E figuresRising real incomes and
high commodity prices
will drive growth
BRICS
2015F GDP
(USD bn)
2011*Growth Rate
(%)
2010 GDP Per
Capita (USD)
China 10,903.6 9.2% 4,382.1
India 2,359.2 7.4% 1,370.8
Russia 1,926.1 4.1% 10,355.7
Brazil 2,546.7 2.9% 10,816.5
South Africa 425.6 3.1% 7,274.4
Bubble Size: Nominal GDP (USD bn, 2015F)
The Beijing Axis 31
0
5,000
10,000
15,000
20,000
25,000
30,000
35,000
2010 2015F 2020F 2025F 2030F 2035F
China
India
Year
2010-
2015F
2016F-
2025F
2026F-
2035F
GDP Per
Capita 2035F
(USD)
China 8.0% 7.0% 6.5% 22,458
India 7.5% 7.0% 6.5% 6,070
2016F: China adds 1 Germany
2025F: China adds 2 Japans
2028F: China adds 1 US
2026F: India adds 1 Germany
2032F: India
adds 1 Japan
2010-2016
2010-2020
2010-2025
2010-2028
2010-2020
2010-2026
2010-2032
2020F: China‘s economy doubles
2020F: India‘s economy
doubles
Sustainable Growth Phase
Continued Acceleration
Drive to Maturity Phase
Growth Moderation Phase
2013F: India adds 1 South Africa
Now
2010-2013
China
India
Moderating Phase
China
India
Accelerating Growth
Box indicates additional nominal
GDP from now to forecast year
China’s and India’s Forecast Nominal GDP (USD bn, 2010-2035F*)
*Note: ForecastGDP growthrate for each period listed in the graphabove
Source:IMF; The Beijing Axis Analysis
China and India will add significant nominal GDP over the next 10 years
and beyond, yet the type of growth will differ
The Beijing Axis 32
Future developments in Sino-Africa economic relations
• China‘s share of trade with Africa has explodedin the last decade,making it Africa's largesttrade
partner
• While China‘s trade and investmentgrowth in Africa will be driven by its own need for resources, the
need to developconsumingmarkets that will buy Chinese goods and servicesis equallyimportant
• This will help openAfrica‘shuge potentialfor private consumption,as the need for manufacturedgoods
will remain strong whileAfrica continuesto develop its own manufacturingcapabilities
• China is playingan increasing important role in job creationand supply to the local market, evidenced
by the establish of free economic zones in the main financialand businesshubs of Sub-SaharanAfrica
• Anotherarea of opportunity isAfrica‘s infrastructuresector, as decadesof underinvestmentand
mismanagement have resultedin underperformingsectorsin railways,roads and power.A substantial
amount of work has been done in the last decade with the help of Chinese investment, but much more
needs to be achieved
The Beijing Axis 33
Current and future trends in China‘s development affirm the deepening of
ties with Africa
Slower economic growth
does not mean no growth
Its all about strategic
policy choices – Beijing
‘gets’ this
Moderate GDP
growth and
sustainable demand
for commodities
China will remain the
global engine for
resource demand
Understand the
variability, volatility
and exceptions
Increasing China’s
outbound investment
in the region
Implications for Africa
Current and Future
Trends Description
Moderating commodity
demand (moving towards
sustainability)
Exceptions will occur
Balance of risks shifting
Increased volatility
China will reengineer itself towards a more moderate growth phase with a
different set of drivers. Commodity demand remains solid
Rates of growth in resource demand during the super-cycle 2004-2008 were
unsustainable. Chinese policy makers allow a moderation in GDP growth
looking for sustainability
Commodity demand in China will be moderate but China remains the single
biggest global engine of resource demand and will be that for a long time to
come
There will be some (individual commodity) exceptions to high growth
commodity demand. It is necessary not to generalise about ‗China potential‘
but to understand the detailed supply/demand of each individual commodity
The one-way supply/price risk for buyers in a seller‘s market has now begun
to shift towards two-way risk where buyers and sellers will share risk
Volatility could increase as the market grapples with the reality that China
not be a one-way bet. Markets will adapt to the reality of more moderate but
more sustainable demand
Source:The Beijing Axis Analysis
1
2
3
4
5
6
Chinese outbound
investment will continue
China‘s outbound capital will continue to hit the headlines. Overseas
investment is moving beyond trade facilitation and natural resources
7
The Beijing Axis 34
China‘s significant financing potential and EPC capabilities provide a ‗win-
win‘ situation for Africa‘s growing need for infrastructure development
Source:The Beijing Axis Analysis
High Economic Growth – Growing Domestic
Demand
Significant Capital and Financing Appetite
What does China have to Offer?
Strong EPC CapabilitiesAcross All Disciplines
Renowned Africa/InternationalProject Experience
HedgeAgainst Global (Western) Risk
1
2
3
4
5
Need for Infrastructure Development
Limited Domestic EPC Capabilities
How does Africa Benefit?
Need for Foreign Capital Influx
Raw Material Export Market for Africa
Need for Foreign Capital Influx
Raw Material Export Market for Africa
Need for Infrastructure Development
Limited Domestic EPC Capabilities
Protection from Fragile Developed Market
Need for Foreign Capital Influx
Raw Material Export Market for Africa
The Beijing Axis 35
Agenda
1. Political and Economic Aspects of the Sino-Africa Relationship
2. China‘s Outbound Investments into Africa‘s Resource Sector
3. The Future Trajectory of Sino-Africa Relations
4. Final Word