Date
19 August 2017
Chinese President Xi Jinping and his Brazilian counterpart Dilma Rousseff has pledged to deepen economic ties between the two nations. Photo: Reuters
Chinese President Xi Jinping and his Brazilian counterpart Dilma Rousseff has pledged to deepen economic ties between the two nations. Photo: Reuters

China, Brazil expand ties with US$8.6 bln deals

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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RC

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