CHINESE INVESTMENT

Chinese firms are making the most of the similar development stages Latin American countries and China are in to win competitive contracts in Latin America's diverse sectors and markets.

Thanks to the joint efforts of the Chinese and Argentine governments, two mega-hydroelectric plants built by China's Gezhouba Group will soon be put into operation in Argentina's southern province of Santa Cruz.

The energy project, worth some 4.1 billion dollars, marks an increase in the scale and level of bilateral economic and trade cooperation.

It will also boost Argentina's energy production and help the country save billions of dollars in fuel imports.

Chinese firms are also investing in other Argentine sectors. Sinopec has invested in oil exploration in southern Argentina; technology firms Huawei, ZTE and Lenovo are building plants in Tierra del Fuego; and China's ICBC banking group bought 80 percent of the country's Standard Bank and even sponsors its national football team.

As of June, the volume of private Chinese investment in Argentina surpassed 6 billion dollars.

AGRICULTURAL COOPERATION

Agriculture has always occupied a central place in China-Argentina trade ties.

At the September inauguration of a dairy plant in Buenos Aires province, Fernandez said the facility will help boost Argentina's capacity to export powdered milk products to China.

Argentina's dairy and other agricultural products are increasingly finding a receptive market in China.

In the past three years, Argentina's agricultural exports to China stood steadily at some 5 billion dollars. In June 2012, then Chinese Premier Wen Jiabao signed a series of accords with Argentina to bolster bilateral agricultural cooperation when he visited the South American country.

Following the agreements, Argentine firm Biogenesis Bago established a production base in China to produce vaccines against foot and mouth disease affecting cattle there, becoming the first foreign firm authorized by China to operate in that sector.