President Xi Jinping has announced a new $9 billion yuan-denominated credit line and expanded infrastructure investment for Latin America and the Caribbean, aiming to strengthen China's presence in the region while encouraging balanced and diversified cooperation.
President Xi Jinping pledged to deepen China’s economic and strategic engagement with Latin America and the Caribbean, unveiling a 66 billion yuan ($9.18 billion) credit facility for member countries of the Community of Latin American and Caribbean States (CELAC).
The announcement came during the China-CELAC Forum Ministerial Meeting in Beijing, where representatives from around 30 countries gathered for the high-level summit held every three years.
“China and the countries of Latin America and the Caribbean are important members of the Global South,” Xi said, emphasizing shared values such as independence, development, fairness, and justice. “Development and revitalization are our natural rights.”
Xi also promised expanded Chinese imports from Latin America and encouraged Chinese enterprises to pursue new investment opportunities across the region, underscoring Beijing’s long-term vision of deeper integration with CELAC nations.
The move further advances China's ambition to position itself as a leading development partner in the Americas, complementing ongoing projects under the Belt and Road Initiative. However, some governments, including Brazil, have urged caution about becoming overly reliant on external financing.
Despite this, analysts say the yuan-based credit line could offer valuable liquidity, especially for countries seeking to diversify away from dollar-denominated debt. “Access to capital is now more limited globally,” noted Eric Orlander, co-founder of the China-Global South Development Project. “These yuan-based agreements can make it easier for borrowing nations to transact and stabilize their economies.”
While challenges remain, particularly in balancing long-term debt sustainability, Xi’s pledges signal Beijing’s continued commitment to expanding cooperation and economic interdependence with Latin America.
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Global investors remained wary on Friday after a closely watched phone call between U.S. President Donald Trump and Chinese President Xi Jinping failed to deliver concrete progress on trade. Chinese markets reflected the cautious sentiment, with modest declines across key indices.
Uzbekistan secured a place at the FIFA World Cup for the first time in their history, earning a landmark qualification following a 0-0 draw with the United Arab Emirates in Abu Dhabi on Thursday.
Germany will increase its military personnel by up to 60,000 troops as part of efforts to meet new NATO force and readiness targets, Defence Minister Boris Pistorius announced Friday, citing the country’s responsibility as Europe's largest economy.
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Germany will increase its military personnel by up to 60,000 troops as part of efforts to meet new NATO force and readiness targets, Defence Minister Boris Pistorius announced Friday, citing the country’s responsibility as Europe's largest economy.
The world stands precariously close to nuclear disaster, with civilian plants under attack and alarming rhetoric normalising the use of atomic weapons, warns Rafael Grossi, head of the International Atomic Energy Agency (IAEA).
British Finance Minister Rachel Reeves is preparing to unveil a high-stakes, multi-year public spending review on June 11 that will allocate over £2 trillion ($2.7 trillion) and shape the Labour government’s ambitions through the rest of its term.
Global investors remained wary on Friday after a closely watched phone call between U.S. President Donald Trump and Chinese President Xi Jinping failed to deliver concrete progress on trade. Chinese markets reflected the cautious sentiment, with modest declines across key indices.
Uzbekistan secured a place at the FIFA World Cup for the first time in their history, earning a landmark qualification following a 0-0 draw with the United Arab Emirates in Abu Dhabi on Thursday.
Germany will increase its military personnel by up to 60,000 troops as part of efforts to meet new NATO force and readiness targets, Defence Minister Boris Pistorius announced Friday, citing the country’s responsibility as Europe's largest economy.
The world stands precariously close to nuclear disaster, with civilian plants under attack and alarming rhetoric normalising the use of atomic weapons, warns Rafael Grossi, head of the International Atomic Energy Agency (IAEA).
Azerbaijan marked its National Day at Expo 2025 in Osaka, Japan, with a cultural celebration that highlighted the country’s heritage, innovation, and growing global partnerships. The event took place at Azerbaijan’s national pavilion, which has become one of the most visited at the exhibition since
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