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China

Mozambican companies may pay their Chinese suppliers directly in renminbi

24 August 2016
Mozambican companies can start paying their Chinese suppliers through their banks in China following the introduction of a new CNH clearing service launched by the Société Générale Moçambique, the bank said in a statement sent to macauhub. The CNH, or offshore yuan, is the international code for China's currency (CNY) that can be traded outside the country, mainly in Hong Kong, which tends to be worth slightly more than the currency in circulation in China as its value changes based on demand, whilst the domestic value of the currency is based on national exchange rate policy.

Investors from China negotiate iron ore supply with Brazilian group Vale

23 August 2016
A group of investors led by the China Investment Group, the Chinese state's sovereign wealth fund, is negotiating an iron ore supply contract with Brazilian group Vale, the China Daily newspaper reported.

China’s Sinohydro awarded more public works projects in Angola

23 August 2016
Chinese group Sinohydro has been hired by the Angolan government to carry out repairs on three sections of road in the provinces of Kwanza Sul, Kwanza Norte and Malanje for US$127.7 million, according to presidential orders. The same orders awarded five public works to Chinese companies for US$163.5 million, all of which are financed by the credit line opened by China for Angola.

Companies in India and China lead investment in Tete province, Mozambique

18 August 2016
India and China head the list of countries with the largest number of foreign investments approved by the Single Service Desk (BAU) in the Mozambican central province of Tete, in the first half of the year, according to official sources. The Executive Director of the Single Service Desk in the province, Domingos Macajo said that in the first six months of the year 82 licenses had been awarded, of which 19 were granted to Indian investors and 18 to Chinese, with Nigeria in third place with 17 licensed companies.

China State Grid takes control of Brazil’s CPFL Energia

17 August 2016
The China State Grid Group has reached an agreement with current shareholders to have a controlling stake in Brazilian company CPFL Energia, the China Daily newspaper reported, citing sources close to the process.

Chinese businesspeople plan to organise trade fair in Guinea-Bissau

17 August 2016
A Chinese business delegation currently visiting Guinea-Bissau said on Tuesday it intended to organise a trade fair involving companies from both countries, according to the delegation's spokeswoman. The intention was expressed by Jessica Zhao, spokeswoman for the delegation during a meeting with the Mayor of Bissau (CMB), Adriano Ferreira.

Portugal to open consulate-general in Guangzhou

12 August 2016
Portugal will open a consulate-general in Guangzhou per a Thursday Council of Ministers decision approving an agreement signed by the two countries. The statement released at the end of the meeting indicates that the new consulate-general will cover an area encompassing Guangdong, Hainan, Hunan and Fujian provinces and the Guangxi Zhuang Autonomous Region.

Chinese company negotiating contracts with Brazil

10 August 2016
China Railway No 10 Engineering Group Co Ltd, a subsidiary of the China Railway Engineering Corporation group, is negotiating the construction of two infrastructure projects worth US$2.6 billion in Brazil, said the company’s deputy director-general, Cui Jun.

China State Grid studies purchase of Brazil’s CPFL Energia

10 August 2016
The China State Grid group is analysing the purchase of the Brazilian company CPFL Energia, a deal which could amount to US$13 billion, the biggest-ever investment by a Chinese company in Brazil, reports the Wall Street Journal. CPFL Energia is Brazil’s largest private electric power production and distribution company, ranking third in size after state-held Electrobras and CEMIG.

Trade between China and Portuguese-speaking countries down 13% in 1st half-year

10 August 2016
The value of trade between China and the Portuguese language countries fell 13.34 percent year-on-year in the first half of the year to US$41.691 billion, indicate official figures released on Tuesday by Forum Macau. In the first six months of the year China exported to the eight Portuguese language countries goods worth US$12.938 billion (-33.78 percent) and imported merchandise worth US$28.753 billion (+0.63 percent), incurring a trade deficit of US$15.815 billion.

China the top investor in Mozambique in 1st half-year

10 August 2016
China was the top investor in Mozambique in the first half-year with US$154 million, nearly 60 percent of total foreign direct investment, indicate figures from the Investment Promotion Centre (CPI). Far behind were next-ranked South Africa (US$45 million), Mauritius (US$29 million), the United Kingdom (US$22 million – 20 million euros) and Portugal (US$14 million).

Angola/China Chamber of Commerce trains entrepreneurs

10 August 2016
More than 50 Angolan entrepreneurs have been attending since Tuesday in Luanda two courses on supply chain management and on strategic negotiation and conflict management, an initiative of the Angola/China Chamber of Commerce (CAC). The head of the CAC, Manuel Calado, told Angop news agency that the training action was meant to provide entrepreneurs with know-how to determine and apply the best decisions in their respective businesses while maintaining the pace of production.

Chinese consortium to build airport in Gaza, Mozambique

9 August 2016
China’s Anhui Foreign Economic Construction (Group) Co., Ltd., associated to the Chinese-capital Mozambican company Sogecoa Lda. (Mozambique), has been contracted by the Mozambican government to build the future airport of Gaza province, reports the Maputo-based daily Notícias.

China’s Hainan Airlines closes purchase of stake in Brazil’s Azul

5 August 2016
China’s Hainan Airlines, a subsidiary of the HNA group, has completed the purchase of a 23.7 percent stake in Azul Brazilian Airlines for which it paid US$450 million, indicates a statement released on Thursday. The purchase in Brazil’s third largest airline makes Hainan Airlines the largest shareholder, able to appoint three members of the company’s board of directors.

Secil Marítima to ensure transport in China/Angola logistics chain

5 August 2016
The Secil Marítima shipping company will ensure transport in the China/Angola logistics chain, a measure meant to cut costs associated to merchandise imports, Transport Minister Augusto Tomás said in Luanda. At the end of a Thursday meeting with directors of Chinese companies operating in the country, Tomás said the decision would enable goods to arrive in Angola at a lower price.

China’s BYD group aims to expand in Brazil by associating with Correios

2 August 2016
China’s BYD automotive group (http://www.byd.com/) is further developing its relationship with the Correios group, Brazil’s top postal service provider, with the aim of expanding in that market, an official source from the Shenzhen-based group told the China Daily newspaper. Last March the BYD group ceded a T3 model electric minivan to the Correios group, which is evaluating ‘green’ logistics solutions by testing electric vehicles from different manufacturers, especially those promising energy efficiency in urban traffic.

Guinea-Bissau government delivers to farmers seed and fertiliser donated by China

2 August 2016
The government of Guinea-Bissau has begun distributing to farmers the agricultural production resources, namely seed and fertiliser, donated by China at a ceremony last weekend in Bafatá. Official information indicates that the donation involves 500 tons of rice seed, 617 of fertiliser and 20 of peanuts, along with bean varieties, and also six new tractors and several power tillers. They will be placed at the disposal of farmers in the country’s 39 sectors and 8 regions, including the Autonomous Sector of Bissau.

China’s Fosun group aims to purchase 16.7% of Banco Comercial Português

1 August 2016
The Chinese group Fosun Industrial Holdings Limited has submitted a firm offer to purchase a 16.7 percent stake of the share capital of Banco Comercial Português (BCP), the banking institution indicated in a statement to the market released on Saturday.

China’s Fosun group buys Brazilian company Rio Bravo Investimentos

1 August 2016
China’s Fosun group has completed the purchase of Rio Bravo Investimentos, one of the most important private investment management companies in Brazil, with a portfolio of nearly US3$billion, the group announced in a statement released in São Paulo. “The operation is part of Fosun’s growth strategy in emerging countries and aims to expand business in Latin America. This is the Fosun group’s first acquisition in the region and represents one more step to leverage local investment potentials following the acquisitions of Idera Capital in Japan in 2014 and Resolution Property in the United Kingdom in 2015, along with the creation of Fosun Eurasia in Russia, also in 2015,” the statement indicates.

China to install factory for tractors and farm machinery in Guinea-Bissau

1 August 2016
A delegation of Chinese technical personnel will soon arrive in Bissau to begin a project to manufacture tractors and other agricultural machinery in Guinea-Bissau, said Beijing’s ambassador in the West African country. Wang Hua made his statement during a Friday ceremony during which he delivered to the Guinea-Bissauan government machinery and other goods meant to help produce rice, “so that the country can become self-sufficient in this cereal”.
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