China’s investment in Brazil may exceed US$100 billion

19 May 2015

Chinese private and public investments in Brazil could exceed US$100 billion, or double the figure announced by the Brazilian authorities for infrastructure, said the president of the Brazil-China Chamber of Commerce, Charles Tang.

Chinese Prime Minister Li Keqiang, arrived Monday in Brasilia for an official three-day visit, during which he is expected to sign 30 official acts and meet with President Dilma Rousseff and other officials in the capital and in Rio de Janeiro.

Chinese investments in Brazil’s infrastructure programme, including projects underway and new projects should total US$53.3 billion, said Ambassador José Graça Lima, responsible for relations between Brazil and Asia at the Ministry of Foreign Affairs.

The president of the Brazil-China Chamber of Commerce told the Portuguese news agency Lusa that, along with this fund for infrastructure, actions in other areas, including high technology and mergers and acquisitions should double the amount of investment.

“China relies more on Brazil than the Brazilians themselves,” said Tang, noting the US$3.5 billion loan signed in April by the China Development Bank with Brazilian oil company Petrobras.

Tang also said that China invests to “occupy slices of the consumer market, to have access to the sources of strategic resources needed for sustainable growth and ensure the food security of its population.” (macauhub/BR/NC)