Chinese Businesses Quit Angola After `Disastrous' Currency Blow
- Chinese business owners ‘lost a lot of money’: commerce group
- Recovery of currency fuels hope of better business climate
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Tens of thousands of Chinese have left Angola because of the oil slump that’s hurt business and halted construction projects, according to the head of a commerce group.
The number of Chinese workers and business owners has fallen to about 50,000, a quarter of what it was four years ago, Xu Ning, the chairman of the Angola-China Industrial and Commerce Association, said in an interview in the capital, Luanda. Those who stayed are recovering from a “disastrous” 2016, with most Chinese-led construction projects still halted, he said.