Shanghai Peng Xin shows interest in Brazil investments

Privately owned company Shanghai Peng Xin Co Ltd said it was showing continued interest in investing in Brazil.

Ge Junjie, deputy chairman, said during Brazil-China Agri-Food Cooperation Forum held in Shanghai on Tuesday that Peng Xin will set up a soybean production factory in Brazil with an annual capacity of 10 million metric tons by the end of this year. With this base, Peng Xin expects to export more Brazilian soybeans to the Chinese market.

Founded in 1988, Peng Xin has an extensive business portfolio including commercial property, resources, agriculture and food products, environmental protection technology and investment. Its founder Jiang Zhaobai was ranked 501st on the Hurun Global Rich List 2017, with a personal wealth of $3.7 billion.