Chinese investment in Brazil brings advanced technology

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Chinese investment in Brazil is growing more diversified and has brought advanced technologies to the Latin American country, Secretary for International Affairs of Brazil’s Ministry of Planning, Development and Management Jorge Arbache said here Tuesday.

The relationship between Brazil and China in terms of investment has become more mature, Arbache told Xinhua on the sidelines of the 2018 Investments Forum.

The relationship is good for Brazil-China relations as well as Latin America-China relations as a whole, Arbache said.

The secretary is responsible for a bi-monthly report on Chinese investments in Brazil. In its latest issue, investment totaled 54 billion U.S. dollars.

The reports have registered a growing trend of diversification of Chinese investment in both areas of manufacturing and service, including transportation, technology, banking and insurance, Arbache pointed out.

In addition, Arbache said, the participation of Chinese private companies is increasing.

“(China’s ride-sharing company) DiDi recently entered Brazil through the acquisition of a Brazilian company, 99, a start-up which became a unicorn and provides urban transportation services, such as taxis,” Arbache said.