Chinese investment in Brazil worth US$20.9 bln in 2017

Chinese investors poured US$20.9 billion into Brazil last year, the most in any year since 2010, as the Brazilian economic recession depressed asset prices, Reuters reports.

The news agency, citing data given by the Brazilian Ministry of Planning, Budget and Management, says most of the sum was invested in energy, logistics or agriculture.

The report says that in one case State Power Investment Corp. of China invested US$2.25 billion in the São Simão hydroelectric power station.

The managers of a US$20 billion fund set up last year to promote Sino-Brazilian co-operation in expanding industrial capacity have received 29 proposals for putting the money to use, Reuters quotes Brazilian Vice-minister of Planning for International Affairs Jorge Arbache as saying in an interview.