In recent years, China has become one of the most important foreign investors in Latin America. From traditional oilfields, mine acquisition, and infrastructure construction, China's investments in Latin American countries have gradually expanded to more high-end areas such as finance, technology and precision agriculture.

According to statistics, in 2013 China's South American investments reached about 16.5 billion U.S. dollars. China's economic development also added to the exports of Latin American countries. In the future, China is likely to inject more investment in technology, creating a win-win situation for both sides.

ICBC in Argentina

In August 2011 Industrial and Commercial Bank of China (ICBC) signed a deal to take an eighty percent stake in Standard Bank Argentina, and later set up ICBC Argentina. By the end of 2013, more than 40 Chinese-founded enterprises were involved in business cooperation with ICBC Argentina.

Vice president of ICBC Tian Fenglin said ICBC Argentina ranks first in asset holding and auto-loan business, and has replaced Citibank in becoming the main clearing bank for VISA in Argentina. In terms of market share, 179 of the world's top 500 enterprises carry out business in Argentina and 120 of the 179 are ICBC customers.

Huawei in Argentina

Huawei entered the Latin American market in 1998 and now operates in Brazil, Mexico, Colombia, Venezuela and other key countries. The company has established not only sales networks but also service centers, logistic centers, and training centers.

In Argentina, for example, Huawei's products and services now cover 10 million users, accounting for one fourth of the country’s population. Huawei has become the main equipment supplier for the three major telecom operators in Argentina.

The company has provided nearly 500 direct jobs to the locals and created over 1,000 indirect jobs. Moreover, Huawei has donated distance education equipment to rural primary schools in remote areas and helped to build the e-government network in Buenos Aires.

To date, Huawei has established cooperation and exchange relations with nine local universities and trained 400 local professional communications personnel. Huawei next plans to establish a joint innovation center in collaboration with the University of Buenos Aires.

Lenovo in Chile

In 2010 Lenovo began to get involved in investment in modern agriculture, and in August 2012 it established Joyvio Group. To date, the Group has acquired four fully-owned farms and a joint stock farm in Chile.

The goal for Joyvio is to become Chile’s largest fresh fruit exporter to China, according to Chen Shaopeng, president of the company.

The article is edited and translated from 《中企投资拉美，从“速度领先”到“质量领跑”》; Source: People's Daily.