Standard Bank chairman: Collaboration between Africa, China predicated on the development objectives of both parties

Collaboration between the African continent and China is not transactional, it is predicated on the development objectives of both parties, said chairman of Standard Bank Group, South Africa, Nonkululeko Nyembezi at a news conference of the 14th Annual Meeting of the New Champions, also known as the Summer Davos Forum, in North China's Tianjin Municipality on Tuesday.

She noted that there is still a bit of imbalance. "But I think directionally and aspirationally, the idea is to get to a very mutually beneficial shared interest," the chairman said.

The real results driven relationship depends on what both parties need and how the African continent and China can support one another, she said.

This is something that Chinese President Xi Jinping has said is benchmarked by real results, she said.