China and Brazil expanded their economic cooperation with a slew of deals Thursday covering sectors such as finance, aviation and infrastructure.
Pledging greater investments in the South American nation, Beijing ordered US$3.2 billion worth of jet planes from Brazilian aircraft manufacturer Embraer SA and offered a US$5 billion, three-year credit line to mining giant Vale SA, Bloomberg News reported.
The deals came after a meeting between Chinese President Xi Jinping and his Brazilian counterpart Dilma Rousseff.
Accords signed Thursday consolidated China’s position “as a great partner in Brazil’s development,” Rousseff said after a signing ceremony.
Sany Heavy Industry will invest US$300 million in a construction machinery plant and Chery Automobile will build an assembly plant in Jacarei, Sao Paulo, Rousseff said.
In other deals, China Development Bank will finance a US$100 million information technology project in the state of Tocantins carried out by Shenzen-based ZTE Corp, according to the report.
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