Premier's visit is sign of close ties with region

The trip by Premier Wen Jiabao to Latin American countries is another clear indication that the close ties between the two will gather new steam, especially in trade and investment.

China and Latin America have both experienced high growth in the past decade and seen their trade and investment advance on a fast track.

In 2011, China's trade with Latin America jumped 31.5 percent over the previous year to $241.5 billion, making China the third-largest trade partner for the region after the United States and the European Union. China has become the largest trade partner for Brazil and Chile and the second-largest trade partner for Argentina, Mexico, Peru and Venezuela.