BUSINESS LAC becomes second-largest destination for China's outbound investment

BUSINESS

LAC becomes second-largest destination for China's outbound investment

Xinhua

06:42, May 25, 2023

Visitors tour the Brazil exhibition booth during the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, capital of China, Sept. 5, 2021. (File photo: Xinhua)

GUANGZHOU, May 24 (Xinhua) -- Latin American and Caribbean (LAC) region has become the second-largest destination for China's overseas investment, according to the China-CELAC Private Sector Forum held on Wednesday in Dongguan, south China's Guangdong Province.

In 2022, China-LAC trade reached 485.7 billion U.S. dollars, up 7.7 percent year on year. More than 3,000 Chinese enterprises operate in the LAC region, including many private ones.

Xu Lejiang, executive vice chairman of the All-China Federation of Industry and Commerce (ACFIC), said China is pursuing high-quality development and high-level opening-up, which will surely bring more opportunities to LAC countries and the rest of the world.

Xu said when conducting economic, trade, and investment cooperation with LAC countries, Chinese private enterprises should actively shoulder social responsibilities and contribute to the steady and long-term development of China-LAC friendly cooperation.

The forum was hosted by the ACFIC and the Guangdong provincial government.

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