China-Zimbabwe trade volumes double

Trade volumes between Zimbabwe and China doubled between 2010 and 2013 to $1,1 billion, the outgoing Chinese economic and commercial counsellor Han Bing said yesterday.

Speaking at his farewell reception yesterday, Bing said in 2010, trade volumes between the two countries stood at $562 million.

Bing said in 2013 Zimbabwe's trade surplus to China was $274 million with the biggest Chinese imports from Zimbabwe being tobacco.

China has been dominating tobacco imports from Zimbabwe since 2009. Bing said Chinese investment to Zimbabwe has been on the increase since 2010 where it stood at $33,8 million before rising to $460 million in 2011 and over $600 million in 2013.

"So in these three years, especially in 2011 and 2013, Zimbabwe ranked number one in the whole of Africa in respect of attracting Chinese Investments," he said.

Bing said most Chinese investors in Zimbabwe were still at the investing phase and were yet to reach the profit phase.