China invested US$6.1 billion in Brazil last year, making the country Beijing’s top destination for overseas capital. The figure marked a 45 per cent increase from the previous year.
Chinese companies focused on mining, car manufacturing and technology spread operations across 20 Brazilian states. Mining investments more than tripled to US$1.76 billion, including CMOC’s purchase of gold mines from Canada’s Equinox Gold for about US$1 billion.
Tech firms such as Meituan’s food delivery unit launched new projects, while 31 sustainability and green energy ventures accounted for 60 per cent of Chinese activity in the country. Carmakers also took over sites previously used by Western manufacturers.
Brazil captured 10.9 per cent of all Chinese outbound investment, ahead of the United States at 6.8 per cent. Tulio Cariello, director of research at the China-Brazil Business Council, noted that the location of the funds mattered more than the headline total.
