Banks and companies in China want to invest in Brazil

4 September 2017

The China Development Bank (CDB) is willing to increase funding for conducting business between Chinese and Brazilian companies, said Zheng Zhijie, chairman of the bank, during a seminar in Beijing.

At a seminar on investment opportunities in Brazil promoted by the Brazilian Agency for the Promotion of Exports and Investments (Apex-Brasil) on Saturday, Zheng said it was impossible to ignore current protectionist and anti-globalisation trends and that in this scenario, the “pragmatic relationship” between Brazil and China is based on “mutual trust and economic complementarity.”

On the first day of his visit to China, Brazilian President Michel Temer received the representatives of four large Chinese groups with businesses in Brazil – China State Grid, China Three Gorges, Huawei and HNA, a shareholder of airline Azul and through it, of TAP – Air Portugal.

These meetings and others that followed were used by the Brazilian president to present the privatisation programme recently announced by the federal government and which includes, among other great companies, power company Eletrobras. (macauhub)