BRI boosts cooperation with Latin America

Since the beginning of the 21st century, economic and trade relations between China and Latin America have seen constant, stable development. Latin America has become one of the most dynamic regions for China's trade cooperation. According to statistics from the United Nations Economic Commission for Latin America and the Caribbean, China has been the second-largest partner in goods trade, third-largest export market and the second-largest source of imports for Latin America since 2014.

Latin America is also the second-largest market for China's overseas investment. By the end of 2017, the stock of China's direct investment in Latin America had exceeded $200 billion. And more than 2,000 Chinese companies have invested in Latin American countries, creating more than 1.8 million jobs there.

The prosperous economic and trade cooperation between China and Latin America can be attributed to the complementarity in terms of resource endowment and economic structure, as well as to the great importance the two sides attach to each other at a strategical level. The two sides have also established a series of arrangements, from cooperative mechanisms and platforms to specific measures, which fundamentally guarantee the stability and upgrading of China-Latin America economic and trade cooperation.