Latin America

China Doubles Latin FDI

24 April 2006

LATIN BUSINESS CHRONICLE (LATIN AMERICA)--China's direct investments in Latin America have grown dramatically and are expected to continue growing at strong rates over the next few years as well. According to a new report from United States based consultancy Global Insight, cumulative Chinese investment in Latin America reached USD 8.3 billion in 2004, an increase of 79.0 percent from 2003. Latin America's share of Chinese direct investments will grow from 6.4 percent today to 17.0 percent within the next 12 months, according to the report, Going Outside, Round-Tripping and Dollar Diplomacy: An Introduction to Chinese Outward Direct Investment. Latin America will gain its share at the expense of North America and Asia. Over the next two to five years, it will fall somewhat to 11 percent, due to stronger growth in Chinese investments to Asia. Source: http://www.latinbusinesschronicle.com/reports/reports/
042406/china.htm (Reliability: 8)

Comment: The Latin Business Chronicle appears to be a seminal resource for extremely good and relevant Sino-Latin America economic issues in any industry. A conference at the University of Miami will be held on 5 May 2006 to discuss these affairs.

Brazil

China, Brazil Hold 1st Deputies Dialogue

24 April 2006

CCTV (WASHINGTON)--The first China-Brazil Finance Deputies Dialogue was held in Washington on 23 April 2006 on the sidelines of the spring meeting of the World Bank and the International Monetary Fund. In the dialogue, the two sides exchanged views on macro-economic situations. They also had extensive discussion on economic development strategies and financial sector reforms of the two countries. Two sides stressed the importance of the dialogue in strengthening mutual understanding and cooperation in macro-economic and finance areas of the two countries. Chinese Vice Finance Minister Li Yong and Brazilian Vice Finance Minister Luiz Pereira co-chaired the dialogue. High-level officials from Finance Ministries and Central Banks of the two countries also attended the dialogue. Source: http://english.cctv.com/program/bizchina/20060424/100735.shtml (Reliability: 5)

Mexico

China Interested In Seguro Popular

24 April 2006

MIAMI HERALD (MIAMI)--Mexican President Vicente Fox’s healthcare plan for the nation’s poorest attracted the attention of the Chinese, who are sending a high-level delegation of officials this month to consider adopting a similar program. The “Seguro Popular,” or Popular Insurance program, provides complementary funding for low-income citizens who don’t work in the formal economy or get care from the Mexican Social Security Institute (IMSS). It covers the costs for certain medical procedures to prevent low-income families from going into debt whenever they are faced with a medical emergency. In a recent interview, Health Secretary Julio Frenk said that the Seguro Popular’s success attracted international attention, and China became interested after Mexico gave a presentation on the program at a World Health Organization (WHO) event. Source: http://www.eluniversal.com.mx/miami/17918.html (Reliability: 7)

Latin America

China Mobile Denies Bidding For Millicom
24 April 2006

CHINA KNOWLEDGE (CHINA)--China Mobile denied it is among the bidders for Millicom International Cellular, a listed mobile phone carrier in NASDAQ, according to State-run Xinhua news agency. Raunie Lei, the corporate communication manager of China Mobile (Hong Kong) Ltd. said, “The Hong-Kong-listed company is not involved in the bidding process, and we have not heard that our mainland parent is involved either.” The Financial Times reported Thursday that China Mobile, the largest mobile operator in China, aims to bid for Millicom International Cellular. Millicom operates mainly in five regions: Southeast Asia, South Asia, Central America, South America and Africa with networks in Cambodia, Vietnam, El Salvador, Guatemala, Pakistan and Sri Lanka. Source: http://www.chinaknowledge.com/news-detail.aspx?id=2809 (Reliability: 6)

Latin America

United States Watching China's Growing Influence In Latin America

19 April 2006

VOICE OF AMERICA (BEIJING)--China builds stronger ties with Latin America in part to satisfy its need for raw materials to fuel industrial growth, and in part to strengthen its worldwide diplomatic reach. This draws the attention of the United States, which last week dispatched its top diplomat, Thomas Shannon, the Assistant Secretary of State for Western Hemisphere Affairs, to Beijing. He said the Chinese assured him that their intentions remain more economic and less political. Shannon said the Chinese acknowledged that their growing relationship with Latin America has a military component. Source: http://www.voanews.com/english/2006-04-19-voa3.cfm (Reliability: 6)

Comment: The source also has links to an audio address by the author of this article, as well as his complete written report.

Venezuela

Venezuela, China Sign On Broadcaster Training, Program Exchange

19 April 2006

CHINA KNOWLEDGE (CHINA)--Venezuela and China on 19 April 2006 signed an agreement on program exchange and the mutual training of TV and radio broadcasters, reported State-run Xinhua news agency. Tian Jin, deputy head of China's State Administration of Radio, Film and Television (SARFT) signed the agreement with Venezuelan Communications Minister William Lara at a ceremony in Caracas, capital of Venezuela. According to the agreement, Venezuela will broadcast two channels of Central China Television (CCTV) programs in Venezuela and will also have access to China Radio International's programs in a variety of languages. Tian, who leads the SARFT delegation to Venezuela, said that the cultural and information exchange would boost friendship between the two nations. Source: http://www.chinaknowledge.com/news-detail.aspx?id=2768 (Reliability: 6)

Argentina

MOU To Boost China-Argentina Futures Exchange Cooperation
19 April 2006

TMC NET (DALIAN)--Northeast China's Dalian Commodity Exchanges (DCE) recently signed a memorandum of understanding with Argentina's Rosario Futures Exchange (ROFEX) on cooperation in information sharing, new derivative products development and staff training. ROFEX realized that the trade cooperation between China and Argentina, particularly the rising soybean trade between the two counties, provides a win-win cooperation opportunity on futures trade from both parties, according to ROFEX chairperson Luis A. Herrera. Source: http://www.tmcnet.com/usubmit/2006/04/19/1586957.htm (Reliability: 7)

Colombia

ONGC, Sinopec Plan Joint Bid In Colombia
19 April 2006

SIFY (SINGAPORE)--The overseas arm of Oil and Natural Gas Corp. Ltd. (ONGC) teamed up with China's Sinopec Group to bid for a small oil asset in Colombia, people familiar with the plan said on 19 April 2006. The joint acquisition of the asset in the Latin American country marks the second time state oil firms of the oil-starved Asian countries bidding for overseas oil and gas assets aimed at avoiding cut-throat competition. Source: http://sify.com/finance/equity/fullstory.php?id=14187671 (Reliability: 8)