According to a People’s Daily report, at the time of Xi Jinping’s trip to Argentina, China’s economic, trade, and investment cooperation with Latin American and the Caribbean countries was developing rapidly. At present, China has become the second largest trading partner for Latin America, and, after Asia, Latin America has become the second largest destination for Chinese overseas investment.
In 2017, the bilateral trade volume between China and Latin American and the Caribbean countries reached US$257.8 billion, an 18.8 percent year-over-year growth over 2016. From January to September this year, the bilateral trade volume increased by 20 percent, reaching US$228.6 billion. In 2017, Chinese companies’ stock for direct investments in Latin America reached US$387 billion, with a total contractual value of Chinese engineering projects in Latin America of US$164.2 billion.
Source: People’s Daily Online, November 30, 2018