Latin America a destination for a quarter of Chinese investment

If you're looking where Chinese investment is going these days, don't look at North America or Europe.

China's recent attempts to lock up minerals and other natural resources in Africa through long-term deals with nations there has been documented of late. But a Chinese trade official said Wednesday that a quarter of all of the country's overseas investment is headed to Latin America, the China Daily reported.

At the World Economic Forum in Cancun this week, Wang Jinzhen, vice president of China's International Trade Promotion Committee, said 25 percent of the more than $90 billion Chinese businesses invested overseas by the end of 2006 was in Latin America. That represents 30,000 individual projects, she said.

The increase has been significant, as 30 years ago, a mere $200 million was invested by Chinese companies in the region. By 2000, it had reached $10 billion. 

Source: American Shipper