China-Brazil investment cooperation on fast track: Vice Premier

SAO PAULO -- Investment cooperation between China and Brazil is on a fast track, visiting Chinese Vice Premier Wang Yang said Saturday in Sao Paulo, Brazil.

Wang, who is here on an official visit, was speaking at a symposium attended by Chinese companies operating in the South American country.

Closer ties between China and Brazil have spurred greater investment by Chinese firms in a wider range of fields, he said.

The two economies are highly complementary, with extensive potential for cooperation in expanding production capacity, infrastructure, agriculture, energy and other sectors, said the vice premier.

He urged government departments concerned to continue to support the development of Chinese companies in Brazil by implementing financing policies designed to support them and improving service, said Wang.

Chinese companies, meanwhile, "should forge ahead with long- term plans" while striving for excellence and social responsibility to achieve a win-win situation, he added.

At the event, representatives of the Chinese firms made presentations of their products or services, and future plans, saying they will take advantage of the opportunities offered by the development of China-Brazil ties and help contribute to improving bilateral cooperation.

Also on Saturday, Wang visited Brazil's port of Santos project, which is being developed with investment from the China National Cereals, Oils & Foodstuffs Corporation (COFCO).