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Chinese firms make inroads in Brazil

Updated: 2012-07-27 09:27

By Tuo Yannan in Sao Paulo, Brazil (China Daily)

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Diversification

Meanwhile, Brazil is seeking to diversify the categories of imports and investment in the Latin American nation to bring more win-win benefits, said Hugueney.

The ambassador said that China should "diversify its imports" from Brazil, by buying more high-tech goods, such as airplanes, automotive and mechanical equipment, high-end manufacturing goods, such as luxury shoes, and agricultural goods, such as beef and pork, rather than merely soybeans, iron ore and oil that traditionally have been the major Chinese imports from Brazil.

The ambassador's remarks echoed the words of Minister of Commerce Chen Deming during a visit to Brazil in May 2011.

"China is willing to promote the diversification of Brazilian exports to China and to add more value to Brazilian exports," he said.

An estimated 84 percent of China's imports from Brazil are raw materials and agricultural goods, including iron ore and soybeans. The huge Chinese demand for the commodities led to an 18-fold increase in Brazil's exports to China between 2000 and 2009.

H Stern, the biggest gem company in Brazil, is getting attention from an increasing number of Chinese customers and is seeking the opportunity to open stores in China, said Ronaldo Stern, vice-president of H Stern, in an interview with China Daily.

Stern said that in recent years, his store has more and more Chinese customers, and he has started to hire people who understand Chinese culture to work with him.

"To find a good location and local partners is not easy in China," he said.

The company has been researching the Chinese market for more than five years, but hasn't made a decision yet. H Stern is already present in more than 30 countries, including the US and Japan.