Toward more resilient and reliable partnership

President Xi Jinping is visiting Latin America for the third time since 2013. The frequency of his high-level visits to the region reflects the priority China gives Latin America in its diplomatic agenda. And that Ecuador, Peru and Chile are the three countries Xi is visiting this time indicates China's continued efforts to diversify its economic exchanges with the region.

Against the background of Donald Trump's election as the president of the United States and the uncertainty it has created for the open, but changing, world order, Xi's visit proves China's commitment to globalization. Its recent international initiatives, such as the establishment of the Asian Infrastructure Investment Bank and BRICS New Development Bank attest to its effort at global integration. Latin America is not behind in that effort.

China has announced the establishment of a settlement bank in renminbi in Chile, the first in the region, to promote the use of its currency. This should assure the region's countries of China's increasing terms of engagement with the world.