Between 1990 and 1997, Chinese investment into Africa amounted to about $20 million, but from 1998 to 2002 that increased six-fold to $120 million. Only about twenty percent of that amount came into South Africa, not as large a share as might have been expected. The report indicates that there are 450 Chinese-owned investment projects in Africa, of which 46 percent are in manufacturing, 40 percent in services and only 9 percent in resource-related industries. In value terms, extractive and resource-related projects comprise a much higher share at 28 percent, but nonetheless 64 percent of the value of Chinese investment in Africa is in the manufacturing sector.
From Stephen Gelb’s ‘South-South Investment: The Case of Africa.’ A chapter from the new FONDAD book: Africa in the World Economy. He also discusses the advantages of South-South investments and the growing trends of intra-African FDI.
The China-Africa figures have of course more than spiked in the last two years - read oil. See China's official Africa Policy, and more stats and comment via the BBC, World Economic Forum, and OpenDemocracy.