In late October 2005, Sany Heavy Industry entered into a significant export agreement with an Angolan agency, worth over $5 million. The deal involved the shipment of 74 80C concrete transfer pumps to Angola, marking a major milestone for the company in expanding its international footprint.
In November 2005, Xu Zhong successfully launched and exported 100 heavy cranes to Angola, which became the largest single-batch export in the company’s history and set a new benchmark for domestic crane exports. This event highlighted the growing demand for construction equipment in Africa.
On November 18, 2005, Liu Gong held a grand shipping ceremony for the export of 356 loaders and excavators to Angola, with the contract value exceeding $12 million. This was the largest order in the company's export history, further solidifying China's role as a key supplier in the African market.
By December 20, 2005, Shanghai Huadong Construction Machinery Factory Co., Ltd. launched the first batch of 20 concrete mixer trucks bound for Angola. The company had secured an order for 56 trucks, with the remaining 36 scheduled to follow soon, indicating strong confidence in the Angolan market.
Also in late 2005, Zoomlion signed a $7 million export contract, including 79 tower cranes, 6 50-ton truck cranes, and 3 additional truck cranes destined for Angola. Of these, 10 tower cranes were shipped on March 2, 2006, showing the rapid pace of Chinese machinery exports to the region.
Meanwhile, several other Chinese companies, including China Yituo Group, Xi'an Dagang, Yutong Heavy Industry, and Shantui, also entered the Angolan market, competing with Daji Group. This surge made Angola a hot spot for Chinese construction machinery exports, raising questions about the future of African markets and the role of middlemen in these deals.
The U.S. media once criticized China’s growing presence in Africa, comparing it to historical European colonization. However, such views overlook the fact that Africa, like China in the 1980s, is in need of investment and development. The U.S. itself has significant ties to Angola, with 70% of its oil imports coming from the country.
Angola, located in southwestern Africa, is rich in oil and diamonds. It is the second-largest oil producer in sub-Saharan Africa after Nigeria. Oil accounts for 90% of its exports and more than 60% of its GDP, making it a critical economic driver. After ending a 27-year civil war in 2002, Angola is now experiencing rapid development, attracting global investments due to its untapped potential and abundant resources.
With rising global demand for energy and natural resources, Africa is becoming a focal point for foreign investment. According to the World Investment Report 2005, Africa attracted $18 billion in foreign direct investment (FDI) in 2004, with several countries, including Angola, Nigeria, and Egypt, leading the way. These nations are rich in oil and minerals, drawing multinational corporations seeking long-term gains.
China, as a major oil importer, has increasingly turned its attention to Africa. Over 40% of its oil imports come from the continent, and trade between China and Africa tripled between 2000 and 2004, reaching $40 billion annually. From mining in Zambia to infrastructure projects in Sierra Leone, Chinese companies are deeply involved in Africa’s development.
In Angola, a $2 billion economic and trade agreement was signed between China and the Angolan government, allowing China access to oil and exploration rights. As Africa continues to grow, it may become a new engine of global economic development, with China playing a central role in shaping its future.
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