Chinese companies restate their long-term commitment to Brazil

1 June 2018

Representatives of Chinese companies that have invested in Brazil on Wednesday in São Paulo restated their long-term commitment during a panel on business cooperation at the Brazil 2018 Investment Forum, Chinese news agency Xinhua reported.

Chang Yunbo, vice president of the China Communications Construction Company Ltd (CCCC) South America, called on Brazilian business people to carry out long-term planning, similar to what their Chinese partners do and suggested the adoption of Brazilian and Chinese currencies to do business, rather than the dollar, which in his opinion increases operating costs.

Qu Yang, vice president of the Brazilian subsidiary of China State Grid, stressed the need for the Brazilian government to include renewable energy sources in the national grid and pointed out that current installed capacity represents two or three large hydroelectric plants.

The Secretary for International Affairs of the Ministry of Planning, Development and Management, Jorge Arbache, welcomed the establishment of the China-Brazil Fund, which has US$20 billion to finance bilateral projects, as a new model of international cooperation.

Brazilian President Michel Temer said in his opening address that the government, after restructuring the economy to make the country more competitive, is now working on a set of actions to increase Brazil’s presence in international trade. (macauhub)