Top manufacturers showcase wares
“relatively large scale”, which is likely to surpass the $40 billion Silk Road Fund, he said.
China’s railway locomotive and rolling stock products have attracted considerable attention at the Rio exhibition. The country’s leading trainmakers, China CNR Corp and CSR Corp, both see Latin America as a fast-growing market.
The Changchun Railway Vehicles factory, a subsidy of CNR, has won a contract to supply subway trains to Brazil for the Olympic Games in Rio next year. The trains will be equipped with the latest air conditioning units, allowing them to operate in temperatures as high as 56 C.
Deliveries are scheduled to be completed this year, and the first trains have completed testing and been sent to Rio.
The company said the trains will operate shuttle services at speeds of up to 100 kilometers per hour on a line between the Olympic
Intercity trains Village and the Copacabana Games center. CNR also delivered subway trains used during the World Cup soccer tournament in Brazil last year.
CSR has exported diesel locomotives and freight trains to Brazil and other South American countries, including Colombia, Argentina and Venezuela. CNR and CSR are still under a merger process that is expected to create the world’s biggest trainmaker by sales.
Meanwhile, Chery Automobile’s factory in Brazil will start operating by the end of this year, and new-energy buses produced by China’s BYD Co have also entered the market, according to Xinhua News Agency.
BYD will open its first factory in Brazil this year. It will produce batteries and solar panels and assemble electric buses with imported parts.
Zhou Mi, a researcher at the ChineseAcademyof InternationalTrade and Economic Cooperation under theMinistry ofCommerce, saidcompanieshave racedaheadin exploring the Latin American market.
It has become increasingly important that China do more to reach intergovernmental agreements on setting up systems to realize investment and to provide more information to companies, he said.
These systems could help Chinese companies to lower investment risks, and companies would be more willing to set long-term goals and take greater responsibility, such as making projects more environmentally friendly, Zhou said.
China has signed free trade agreements with Peru and Chile. A feasibility study is being conducted on a free trade agreement between China and Colombia. Wanyan Wenhao this story.
to High-speed EMUs*
Chinese Premier Li Keqiang and Brazilian President Dilma Rousseff speak during the signing of agreements at the Planalto Palace in Brasilia on Tuesday. Li and Rousseff witnessed the signing of a series of trade and investment deals on Tuesday worth tens of billions of dollars, officials said. The Chinese premier is on a three-day official visit to Brazil, where he began a Latin America tour including Colombia, Peru and Chile.