Analysis of the Impact of RMB Real Exchange Rate on Outward Foreign Direct Investment Risk: Taking China's Investment in South Africa's Manufacturing Industry as an Example

On the condition of deepening economic globalization, China is guided by the concept of cooperation and win-win, and gradually establishes good cooperative relations with governments and various international organizations. South Africa is one of the five BRICS countries and is very important in the world. Today, the cooperation between China and South Africa continues to deepen, and investment and trade cooperation between the two sides is the driving force for the development of the two countries. Based on a detailed analysis of China's current situation and South African direct investment risk, this paper uses empirical analysis to study the impact of RMB real exchange rate on China's direct investment risk to South African manufacturing. Finally, based on the research results, relevant opinions and suggestions for promoting China's direct investment in South Africa were put forward.