The Republic of Zambia was the first Southern African country to establish diplomatic and cordial relations with the People’s Republic of China, just after its independence in 1964.
The two countries’ friendship was sealed by Chairman Mao Zedong and the first President of Zambia Kenneth Kaunda. As a proof of this excellent relationship, it is worth mentioning that it is during a conversation with President Kenneth Kaunda that Chairman Mao Zedong articulated his idea of “Three Worlds”.
China’s investment and financing in Zambia is not only a reflection of the China-Zambia friendship, but also China’s identifiable confidence on Zambia’s economic and social prospects
, H.E. Li Jie, Chinese Ambassador to Zambia (August 2018)
Recently, China and Zambia signed a Memorandum of Understanding on the “One Belt and One Road” cooperation.
Chinese President Xi Jinping meets with Zambian President Edgar Lungu, Beijing, September 1st 2018
Chinese firms in Zambia
It is so much easier to make money here in Africa than back home in China, Pan Wei Zhi, a Chinese investor in Zambia interviewed by the British international media BBC.
More than 800 Chinese firms operate in Zambia. A recent McKinsey & Company report (“Dance of the Lions and Dragons”, 2017) indicates that, in 2015, 861 Chinese firms were established in Zambia. Almost all of these firms (90%) were privately held.
Almost 60 percent of Chinese firms are in industries requiring capital investments.
Source: McKinsey & Company (2017)