Author: Fundación Andrés Bello

Chinese automaker prepares vehicle plant in Mexico

n April 2023, Jetour will market two gasoline-powered SUVs imported from China. By the end of the year, it will introduce a hybrid unit and in 2024 it will invest in the plant for combustion and electric vehicles. The brand is currently lobbying with different governments – among them Aguascalientes and Guanajuato – to define an investment that could reach 1 billion dollars.
Fundación Andrés Bello

Ecuador’s Public Prosecutor’s Office to file bribery charges in Sinohydro case after four-year investigation

The Ecuadorian Attorney General’s Office will finalize the investigation of the so-called INA Papers. After almost four years of investigation, the entity has renamed the process the Sinohydro case. The investigation focuses on a criminal structure that allegedly collected $76 million in bribes to the Chinese company Sinohydro, responsible for the construction of the Coca Codo Sinclair hydroelectric power plant during the government of Rafael Correa.

Fundación Andrés Bello

China-Colombia relations are at an all-time high

Ingrid Chaves, director of the Colombian-Chinese Chamber of Commerce, spoke to Portafolio about the progress of diplomatic relations with China and the changes expected with the new government: “this year marks 43 years since the beginning of diplomatic relations and before the pandemic, China became the country’s second partner in trade and the first Asian investor in Colombia,” said Chaves.
Fundación Andrés Bello

Huawei in Argentina sanctioned by customs due to undeclared import of software

Huawei’s Argentine subsidiary is being fined by the Argentine Customs for not declaring the import of software, which resulted in unpaid taxes amounting to US$ 28 million and a fine of US$ 2 million. Argentine Customs argued that the Chinese company could not have imported equipment without purchasing the software and without paying the license fees to the parent company in China.

Fundación Andrés Bello

Chinese company BYD supports Colombia for sustainable mobility

he Chinese company Build Your Dreams (BYD), a pioneer in providing electric vehicles to Colombia since 2012, expressed its intention to act as an ally to meet the Colombian government’s expectations regarding the progress in the transition to clean energy, with special emphasis on the mobility issue. In an interview with Xinhua, BYD’s general manager in Colombia, Juan Luis Mesa, recalled that the company has offered effective zero emission solutions in more than 70 countries.
Fundación Andrés Bello

China, a giant that threatens Ecuador’s tuna supply

While Ecuador continues to be the European Union’s main supplier of tuna loins, China is fast closing in to take over the top spot. Despite the absence of any trade agreement, the European bloc is increasingly shifting its purchases to the Asian country. Ecuador’s share of the tuna market has fallen from 32% to 26%, while China’s grew rapidly from 9% to 24%, between 2015 and 2022.
Fundación Andrés Bello

Minerva and high Chinese demand

Minerva affirmed that it will continue to meet Chinese beef demand through four slaughter units, three in Uruguay and one in Argentina. This follows a confirmed case of mad cow disease in the state of Pará in Brazil. Minerva, South America’s leading beef processor and exporter, present in Colombia, Chile, and Paraguay, assured that the strategy will prevent its market share from being affected as China is the largest importer of Brazilian product and has a protocol for suspending business in the event of cases of atypical Bovine Spongiform Encephalopathy, something that has already occurred in the past.

Fundación Andrés Bello

China adds road concession to Chile’s infrastructure portfolio

The Chilean government awarded China Railway Construction Corporation (CRCC) the second concession for the Chillán-Collipulli section of Route 5, for an investment of close to US$600 million, further expanding China’s presence in the infrastructure sector in the South American country. The concession includes the construction of a four-lane access road, the widening of 18 km of the existing road, the replacement of 14 bridges, and the repair of 48 others.

Fundación Andrés Bello

Chinese companies establish factories to label their products as “Made in Mexico”

Several Chinese companies are investing in Mexico. Taking advantage of an expansive trade agreement with North America (T-MEC) and following a path forged by Japanese and South Korean companies, a number of Chinese firms have set up factories that enable them to label their products as “Made in Mexico” and then transport them duty-free to the United States.
Fundación Andrés Bello

The Red Cross Society of China donates US$100,000 to help fight forest fires in Chile

China’s Red Cross has donated US$100,000 to the Chilean Red Cross to help areas affected by the forest fires that have ravaged the country’s south-central area. China’s ambassador to Chile, Niu Qingbao, made the announcement at a press conference at the Chilean Red Cross headquarters in Santiago, adding that the Chinese Embassy in Chile is collaborating with the Chilean Association of Municipalities to provide support.

Fundación Andrés Bello
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