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Railway, mining, energy and finance in focus between China and Peru


11-22-2016 16:11 BJT

Full coverage: Xi Visits Ecuador, Peru and Chile, Attends APEC Summit

This year marks the 45th anniversary of the establishment of diplomatic ties between China and Peru. The two countries have a comprehensive strategic partnership, the highest level of relations between China and Latin American countries.

The China-Peru Free Trade Agreement was officially ratified in December 2009 and went into effect in March 2010. In recent years, bilateral trade has remained on an upward trajectory, hitting a record level of nearly U.S.$15 billion in 2015.

In the first eight months of this year, trade grew 9 percent year-on-year, outpaced by growth of more than 20 percent in Peruvian exports to China.

Chinese investments in Peru have been wide-ranging, including mining, fossil fuels, infrastructure, and financial services. More than 170 Chinese businesses have invested more than U.S.$14 billion in Peru, which helped creating tens of thousands of jobs and tax revenue for local communities.

The two countries also will deepen their cooperation on a 3,300-mile rail link connecting the Atlantic and Pacific coasts of South America.

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