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China’s private companies come into play in Sino-African economic cooperation King Deer Group, a private Chinese company specializing in cashmere manufacturing, has been doing business in Africa for the past 24 years. Its Madagascar factory remained unaffected by the COVID-19 pandemic and continued to support people’s livelihood during this challenging period. “Thanks to maritime transport, the supply of spun yarn exported from China has not been interrupted. Our products are still being exported to Europe and North America”, said Zheng Haosheng, the group’s president. King Deer is one of the many Chinese private companies investing in Africa. According to statistics from the Chinese Ministry of Commerce (MOFCOM), private companies now account for more than 70 percent of all Chinese companies investing on the continent. The Belt and Road Initiative, launched in 2013, has clearly reinforced this trend.

The songUnited statesWu pengHany besadaWang lichengZheng haoshengXu le jiangUn office for south cooperationKing deer groupSunda groupShanghai branch of moroccan bankDepartment of west asianAfrican affairsAfrica business councilWorld bankChinese ministry of commerce