On November 2nd, the opening ceremony and the general assembly of the 16th China-LAC Business Summit kicked off in Beijing. Vice President Mr. Han Zheng presented at the venue and delivered the speech. The following officials attended the summit, including the Secretary of the CPC Beijing Municipal Committee Mr. YIN Li, Assistant Foreign Minister Ms. HUA Chunying, Vice Mayor of Beijing Ms. SIMA Hong, Chairman of CCPIT Mr. REN Hongbin, Vice President of Inter-American Development Bank Mme. Ana Ibanez. Under the theme of "Open Innovation, Shared Development," the two-day summit aims to provide new impetus for deepening practical cooperation between China and Latin America, promoting bilateral trade and investment, and advancing the building of a China-LAC community of a shared future, and it gathered over 1,000 participants, including government officials, leaders of international organizations, and business sector representatives from China and LAC countries. Chairperson Yang Tingting and CEO Zhang Liqiang attended the opening ceremony.

Opening Ceremony

During the opening ceremony, representatives from the business sector jointly released a cooperation initiative to advance the development of the digital economy, further promote agricultural cooperation, enhance cultural and tourism collaboration, tap into the potential of a green economy, and build a China-LAC community of a shared future.

Release of the China- LAC Business Cooperation Beijing Initiative

Latin American and the Caribbean countries set up their booths to display their specialty products and exude their unique charm to the guests. 

Chairperson YANG Tingting visited the booths

In 2022, the trade volume between China and LAC countries reached a record high of 485.8 billion US dollar. China maintained its position as the second largest trading partner with and the third largest investors to Latin America. Progress has been made on the Special Loan Program for China-Latin America Infrastructure Project, preferential loan, and cooperation funds. An increasing number of Latin American countries joined the Asian Infrastructure Investment Bank and the New Development Bank, providing diversified financial sources for their cooperation. The development of bilateral and multilateral relations in political, economic and trade fields between China and Latin American countries will become important driving forces for the sustainable and deepened cooperation under the Belt and Road Initiative. Latin American countries are rich in solar energy, hydro-power, wind power and other clean energy resources. In the face of the task of balancing economic development and environmental protection,  Latin American countries adopt a series of initiatives to promote the development of clean energy and it has become a highlight in economic and trade exchanges, leading China-Latin America cooperation in low-carbon transformation to a brighter future.

Chairperson YANG Tingting and CEO ZHANG liqiang's photo with diplomats from embassies

China-LAC Business Summit was founded in 2007 and it is China’s first institutionalized economic and trade promotion platform with LAC countries. This event is held alternately in China and Latin American countries and has so far been held for fifteen years in China's Chongqing, Hangzhou, Chengdu and other places, as well as in Chile, Colombia, Peru, Mexico and other countries.