- Most jobs come from China’s greenfield investment by private sector.
- China ranked as the fifth job creator between 2003 and 2015 through her foreign direct investment in Kenya.
- Between 2003 and 2015, FDI from China created 166.92 jobs on average per project.
China has created close to 30,000 jobs in Africa over the last two years, more than any other country in the world, an expert has said.
“China ranks the 7th in terms of project numbers in Africa, but it created the most jobs, which is unexpected by many people,” Mr Jeremy Stevens, economist at Standard Bank Group, told Xinhua on the sidelines of an economic forum in Nairobi.
Mr Stevens said most jobs come from China’s greenfield investment by private sector. He attributed the job creation to China’s investment strategy as well as its willingness to hire local people.
‘‘On one hand, Chinese investment in Africa is mainly in labour-intensive industry; on the other hand, most African countries see employment as their top priority, which Chinese companies are willing to cooperate,” he explained.
Take Kenya for example, according to a policy research working paper released by the World Bank Group in March last year, China ranked as the fifth job creator between 2003 and 2015 through her foreign direct investment in Kenya.
‘‘Contrary to the popular belief that Chinese companies only hire Chinese workers, 93 percent of companies report hiring Kenyan employees,” according to the paper.