In November 2005, 100 Xu heavy cranes were officially launched and exported to Angola. The export was the largest single-batch export in the history of Xu Zhong, and it also set a new record for domestic crane industry exports.
On November 18, 2005, Liu Gong held a grand shipping ceremony for exporting 356 Angola loaders and excavators. The total amount of the contract reached more than 12 million U.S. dollars, and Liu Liugong has a history of taking the largest order from the export.
On December 20, 2005, Shanghai Huadong Construction Machinery Factory Co., Ltd. held the launch ceremony for the first batch of 20 concrete mixer trucks exported to Angola. This is the first batch of the company's order to export 56 mixer trucks to Angola, and the remaining 36 trucks will be sent to Angola in succession.
At the end of 2005, Zoomlion signed a one-time $7 million export bill, including 79 tower cranes, 6 50t truck cranes and 3 truck cranes. The export destination is Angola. Among them, 10 tower cranes have been shipped and shipped on March 2, 2006.
In addition, many companies such as China Yituo Group, Xi'an Dagang, Yutong Heavy Industry, and Shantui etc. have caught up with Angola's Daji Group. For a time, Angola has become a “star†for Chinese construction machinery exports. China’s construction machinery has never seen such a situation that export destinations are so concentrated in a short period of time. What kind of country is Angola? What business opportunities exist in Africa for Chinese construction machinery? Who are the middlemen of these orders? Can not help people in the heart hit a number of question marks.
Once the US media commented on China’s investment and reconstruction efforts in Africa: “China is sweeping Africa. China’s economic plundering of the African continent is similar to the erosion of the African continent by European powers in the late 19th century in order to acquire mineral resources and slaves. ".
Obviously this is just a side word. Africa also needs investment, just like China in the late 1970s and early 1980s, not China in the middle of the 19th century. The U.S. investment in Africa in recent years is no longer behind China, and even worse than that, Angola exports 70 percent of its oil to the United States.
Angola is located in southwestern Africa and is rich in oil and diamonds. It is the second largest oil producer in sub-Saharan Africa, second only to Nigeria. Angola’s oil is mainly used for exports, oil exports account for 90% of total exports, oil production accounts for more than 60% of Angola’s GDP, and 85% to 90% of national fiscal revenue comes from the oil industry. In 2002, Angola ended its 27-year civil war. Frequent warfare has hindered the development of Angola. The current Angola's failure is an important period for rapid development. It is precisely because of this that Angola has attracted investment from many countries, because there is so much room for improvement here. After all, there is still a wealth of oil resources. This is a reason for any developed country to have enough reason to be moved. China, an oil-consuming country, is no exception.
Will Africa become another bright spot for global economic development?
According to the newly released “World Investment Report 2005†statistics: In 2004, Africa’s foreign direct investment (FDI) inflows were stable, reaching US$ 18 billion, accounting for 3% of the total global FDI. Of the 53 countries in the African continent, 40 countries have positive FDI growth and 13 countries have negative growth. North Africa’s FDI reached US$5.3 billion, accounting for 30% of Africa’s total; West Africa reached US$3.6 billion, an increase of 14% over the same period in 2003; Southern Africa reached US$1 billion, a decrease of 18% over the same period of 2003; Central Africa and East Africa are relatively stable . Egypt is the fastest growing FDI country in the African continent because its liberalization and privatization have attracted investors in the industrial sector. Nigeria, Angola, Equatorial Guinea and Sudan are rich in natural resources. Together with Egypt, these countries are known as Africa's "FDI Big Power." According to the report, in 2004, the total FDI of these five countries accounted for almost half of the total FDI in Africa. As global oil and minerals prices have soared, multinational companies have turned their attention to the natural resources sector in Africa and are keen to cross-border mergers and acquisitions in the mining sector. About 60% of FDI in Nigeria, Angola, Equatorial Guinea and Egypt is invested in the oil sector; the same is true for a large part of Algeria, Libya and Sudan FDI.
China is sweeping Africa?
The continuous and strong growth of the Chinese economy over the years has made it impossible for China to meet its own needs for energy and other natural resources. Demand for natural resources such as energy has soared, making the African continent an important area for China to access these resources. China has become a net oil importer. Up to 40% of its oil imports depend on imports each year, and China’s dependence on imported oil continues to increase. Throughout the African continent, Chinese companies can be seen everywhere. These companies build dams, repair roads, and structure communications systems. According to the statistics of the Ministry of Commerce of the People's Republic of China, trade volume between China and Africa increased threefold between 2000 and 2004, and the trade volume reached 40 billion U.S. dollars per year. China’s development and utilization of natural resources in Africa and the investment profits of China’s aid projects in the African continent have provided a steady flow of resources for China’s rapid economic growth. In Zambia on the African continent, China’s state-owned and private companies injected more than 100 million U.S. dollars over the past four years, mainly for the mining of copper. In Sierra Leone, Chinese companies invested $200 million to start the country’s tourism industry. In Angola, China and the Angolan government signed a two billion U.S. dollar economic and trade agreement. Angola sells oil and oil exploitation rights to China.
Chinese construction machinery sweeps Africa
At the end of October 2005, Sany Heavy Industry signed an export contract with an Angolan agency totaling over 5 million U.S. dollars, and exported 74 80C type tow concrete concrete transfer pumps to Angola.