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China Reform Monitor - No. 1234

Thousands of African migrants flee Guangzhou;
Chinese outbound investment soars in 2016

Edited by Joshua Eisenman
August 11, 2016

July 4:

As many Chinese migrate to Africa, thousands of African migrants are leaving Guangzhou. African migrants are leaving due to urban planning, tighter immigration controls, widespread racism, and rising living costs that now rival many European cities, 
CNN reports. As many as 200,000 Africans used to live in the city's "chocolate city" neighborhood, which was once filled with halal food shops and stores catering to China's African migrants.
July 11:

To pump up the market, China is now moving about 2 trillion yuan ($300 billion) in pensions from low-risk, low-yield government bonds into riskier securities including equities. The National Council for Social Security Fund (NCSSF) will oversee the investments primarily to boost yields for a pension system. However, giving the NCSSF more cash may also help Beijing stabilize markets during a rout. During last year's sharp decline in the Shanghai stock exchange policymakers armed state-run investing company China Securities Finance Corp. used more than $480 billion to stop the crisis,
 Bloomberg reports.

July 14:

Many Chinese firms are pulling out of the domestic market and investing abroad, particularly in the U.S. A
new study by the American Enterprise Institute revealed that in the first half of 2016 China invested more than $80 billion globally, a record for annual outbound investment, with nearly $29 billion going into the U.S. That number, which breaks the full-year record of $18 billion, represents a two-thirds increase in Chinese investment, the Wall Street Journal reports. Private companies have led the charge making acquisitions in the film industry, enterprise technology, and New York City property, among other sectors. Private Chinese firms making American acquisitions include Haier's $5.4 billion outlay for General Electric 's appliance business to LeEco's $250 million acquisition of land from Yahoo.

July 16:

In return for support in international forums, including over the future of the South China Sea, Premier Li Keqiang has agreed to provide Cambodia almost $600 million in aid to support infrastructure, education and health projects. Prime Minister Hun Sen announced the deal on the sidelines of the 11th biennial Asia-Europe Meeting in Ulaanbaatar, Mongolia, 
VOA reports.

July 17:

China has evacuated 17 embassy staff, 12 Chinese medical team members, and 20 people from Chinese companies trapped by the fighting in South Sudan's capital, Juba. A PLA military delegation has escorted the Chinese to safety, 
the official China Radio International reports. Beijing provided a special airplane to airlift the evacuees to Kampala, Uganda where they were met by China's Ambassador, Zhao Yali, before continuing home to China. Three days prior China evacuated another 70 citizens caught in the recent fighting between government troops of President Salva Kiir and rebel forces loyal to Vice President Riek Machar, the official Global Times reports. Last week, two Chinese peacekeepers under the UN Mission in South Sudan were killed and four others injured when they were caught in the fighting.


Related Categories: China; China and East Asia Program

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