Chinese Ambassador to Brazil Yang Wanming has said the cumulative value of Chinese investment in Brazil is now nearly US$80 billion, invested by over 300 enterprises, the Chinese Embassy in Brasilia says.

A written statement issued by the embassy quotes Mr Yang as telling Brazilian financial newspaper Valor Económico in an interview that Chinese enterprises have gone beyond investing in Brazilian farming and mining and are now putting their money into energy generation and distribution, manufacturing and technology, so creating jobs for Brazilians and adding to their know-how.

Mr Yang said Brazil had plenty of room for more Chinese investment, which could be beneficial to both nations, the diplomat added.

Brazilian President Jair Bolsonaro and Chinese President Xi Jinping will discuss important ways that their countries can cooperate – notably in building infrastructure – when Mr Bolsonaro visits Beijing this month, the Chinese Embassy in Brasilia quotes the ambassador as saying.