China encourages businesses to invest in Brazil

BEIJING - China encourages businesses to invest in Brazil and participate in infrastructure development there, Vice-Premier Wang Yang said on Saturday.

Wang made the remarks when addressing a seminar on investment and business opportunities in Brazil, an event held during Brazilian President Michel Temer's state visit to China.

"China encourages businesses to set up factories or industrial parks in Brazil. Both sides can explore partnerships in the production, purchase, storage, shipment, trade and processing of agricultural produce," Wang said.

China supports enterprises to engage in infrastructure development and operation in engergy, railway, road, port and telecommunication, Wang said.

He backed the China-Brazil Fund, launched in May with a total of $20 billion, to finance major bilateral cooperation projects.

Wang said China respects Brazil's concerns for optimizing trade structure and will continue to import various kinds of products from Brazail.

China hopes Brazil will make it easier for Chinese exports to Brazil and welcomes more Brazilian investment in China, he said.

China-Brazail comprehensive strategic partnership is at an all-time high, particularly in trade and investment, Temer said in his speech.

Expressing optimistism about the development of the two countries, Temer said Brazil welcomes Chinese investment and will be committed to improving its business environment.