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People's Daily Online>>China Business

China, Latin America to build $1 billion investment platform

By Wu Chengliang, Zhuang Xueya (People's Daily)

14:06, March 22, 2012

Edited and translated by People's Daily Online

An investment platform that will mobilize 1 billion U.S. dollars is expected to be operational this year, its founder, the Inter-American Development Bank (IDB) and the Export-Import Bank of China (China Eximbank) announced on March 19.

The investment platform will carry out equity investment in Latin America and Caribbean area and promote the sustainable development of economy there consequently.

The announcement was made at the 53rd annual meeting of the IDB concluding on March 19 in Montevideo, capital city of Uruguay. Financial cooperation between China and Latin America and the Chinese economy had become the hot topic of this annual meeting.

First equity fund containing yuan-based investment commitment

As a new measure of the financial cooperation between China and Latin America, the fund is mainly invested in the infrastructure and resource projects, as well as Chinese and Latin American SME cooperation projects in the supply chain.

This platform is the first China-Latin American cooperation equity fund, and more importantly, it is the first fund that contains yuan-based investment commitment. That is to say, part of the investment will be conducted in the form of yuan, which will play an important role in promoting the investment cooperation between China and Latin American countries and promoting Chinese enterprises and yuan to enter the Latin American market.

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helen at 2012-03-22175.136.85.*
That"s the spirits. Go where the opportunities and welcome are accessible and available to the Chinese people. let the World knows that there are better options than those "offered" by the US.
  

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