China Remains Brazil's Largest Commercial Partner – Economist

© Sputnik / Alexandr Demyanchuk / Go to the photo bank100, 50, 20, 10 and 5 yuan bills
100, 50, 20, 10 and 5 yuan bills - Sputnik International
In May 2015, Chinese Premier Li Keqiang visited Brazil and announced the investment of US $53 billion in the country. From January to July 2016, Brazil received more than US $10 billion from China. A Brazilian economist told Sputnik in an interview which industries in the country are of China’s interests.

"Chinese companies want to invest abroad, and not only in Brazil. In Brazil, these investments meet a variety of their interests, but over time the priorities have already been defined," executive secretary of the China-Brazil Business Council Roberto Fendt told Sputnik.

BRICS and SCO International Media Centre - Sputnik International
Kill List: Smashing the 'B' in BRICS

"China is highly dependent on food imports. So, there is a big interest from the Chinese side in the Brazilian agribusiness, therefore they invest in it. But it is not China's only concern regarding Brazil. China has also expressed interest in the infrastructure projects that contribute to the transport of exported agricultural goods to China," the expert explained.

A major investment was also recently made in the electric power and oil industries, Fendt said.

Chinese investors are actively participating in the country's banking sector as well.

"Banking business accompanies trade. Therefore, significant participation on the part of Chinese banks in Brazilian ones has already been witnessed. Recently, some Chinese banks have opened branches in Brazil," Fendt said.

"Thus, China has a very broad investment portfolio in Brazil, meeting the interests of both countries, especially at a time when public and private investment in our country are going through crisis," the economist concluded.

To participate in the discussion
log in or register
Заголовок открываемого материала