Chinese Return to Angola After Currency Crisis Caused Exodus
- New forex policies attract new category of Chinese companies
- Chairman of Chinese commerce group says things have improved
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Angola is attracting renewed interest from Chinese business owners since it lifted curbs on money transfers, following an exodus of tens of thousands of Chinese amid an economic crisis.
Africa’s second-largest oil producer introduced foreign-exchange policies that have made it easy to transfer money legally, Xu Ning, chairman of the Angola-China Industrial and Commerce Association, said in an interview in the capital, Luanda. That’s drawing a “new group” of companies from China to Angola, mainly in the industrial sector, he said.