Brazil and Angola retain their top positions as China’s biggest trading partners among the Portuguese-speaking countries, but trade with Mozambique shows the biggest growth.
Brazil
China’s largest offshore oil and gas producer has a US$2 billion stake in the Buzios oilfield, the largest deepwater pre-salt oil field in the world.
Brazil is one of the most active cloud markets in Latin America, with cloud adoption in the country increasing nearly 40 percent since 2019.
The facility, in northeastern Ceará state, is expected to begin operations in February 2025, with a generation capacity of 343 megawatts.
The world’s largest producer of hardwood pulp says more and more customers are asking for deals denominated in the Chinese currency.
The Singapore-based company plans to invest $150 million in Brazil, leading to the creation of thousands of jobs.
Since the end of the pandemic, Chinese companies have been quick to resume their investments in the South American nation.
The move is as much geopolitical as financial, with a growing number of countries questioning their dependence on the US dollar.
Leaders of the world’s most populous and sixth most populous nations are set to meet in Beijing to cement a growing friendship that will be keenly watched by Washington.