China’s 2024 Brazil investment doubled to highest level since Covid: report
Report says Brazil is now the leading emerging economy destination for Chinese capital.
Chinese investment in Brazil more than doubled last year, reaching the highest level since before the pandemic, making the South American country the third main destination for Chinese capital worldwide, a business group report released on Thursday said.
The report, released by the Brazil-China Business Council, said Chinese firms confirmed 39 projects in 2024 worth US$4.18 billion, a 113 per cent increase from the year before.
The surge would make Brazil the leading destination for Chinese capital among emerging economies. Worldwide, it ranked behind only the United Kingdom and Hungary.
The report said there has been a shift in the nature of deals, with companies now favouring smaller projects linked to Brazil’s industrial policy and the global energy transition, rather than the mega acquisitions that once defined Chinese investment.
Tulio Cariello, the council’s research director, said Brazil’s attraction lies in the scale and variety of sectors open to Chinese money. While Mexico pulls in industry tied to the US and Indonesia draws mining investment, Brazil combines those strengths with energy and infrastructure, he said.
“Brazil is a more complex economy,” he said. “You find opportunities in industry, natural resources and electricity all at once, which makes the country stand out.”