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Chinese companies to invest up to $7 billion in Congo mining infrastructure

Chinese companies to invest up to $7 billion in Congo mining infrastructure

Chinese construction companies will invest up to $7 billion in infrastructure projects as part of an agreement over their Sicomines copper and cobalt joint venture in the Democratic Republic of Congo, they said. Both parties agreed to maintain the current structure of the shareholding, while the Chinese partners, Sinohydro Corp (SINOH.UL) and China Railway Group Limited, will pay 1.2% of royalties annually to Congo, according to a statement. President Felix Tshisekedi's government had been revisiting the deal struck by his predecessor Joseph Kabila under which the Chinese partners agreed to build roads and hospitals in exchange for a 68% stake…
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Chinese workers on Africa’s infrastructure projects: the link with host political regimes

Chinese workers on Africa’s infrastructure projects: the link with host political regimes

CHINA has rapidly become Africa’s most important infrastructure builder, and the footprint of Chinese construction companies is seen in cities, towns and villages across the continent. With the launch of Beijing’s “Go Global” policy in 2000, and President Xi Jinping’s Belt and Road Initiative in 2013, the volume of roads, bridges, railways, power stations and other infrastructure built by China has increased markedly. The number of overseas contracts signed by Chinese companies more than doubled from just under 6,000 in 2004 to almost 12,000 in 2019. Authors PIPPA MORGAN, Lecturer, Political Science, Duke Kunshan University ANDREA GHISELLI, Assistant Professor, School…
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U.S. blacklists dozens of Chinese firms including SMIC, DJI

U.S. blacklists dozens of Chinese firms including SMIC, DJI

ALEXANDRA ALPER, DAVID SHEPARDSON and HUMEYRA PAMUK THE United States added dozens of Chinese companies, including the country's top chipmaker SMIC and Chinese drone manufacturer SZ DJI Technology Co Ltd, to a trade blacklist on Friday as U.S. President Donald Trump's administration ramps up pressure on China in his final weeks in office. Reuters first reported the addition of SMIC and dozens of additional companies eary Friday. The move is seen as the latest in Republican Trump's efforts to cement his tough-on-China legacy as part of lengthy fight between Washington and Beijing over trade and numerous economic issues. The U.S.…
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