DBSA and Chinese bank sign investment deal

According to South Africa's Deputy President Kgalema Motlanthe, who is on a three-day visit to China, the agreement between the two banks followed the signing of a Memorandum of Understanding on "geology and mineral resources".

South Africa currently exports minerals worth about $5,5-billion a year to China and has increasingly viewed that country as a source of foreign direct investment.

Motlanthe says the deal between the two countries was intended to "strike a healthy balance" in trade volumes. No details of the specific investments being made by China have been released.

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