Beijing, China — President Xi Jinping has announced a significant deepening of China’s economic partnership with Latin America and the Caribbean through the extension of nearly US$10 billion in new credit lines. This pledge came during the latest China-CELAC (Community of Latin American and Caribbean States) Forum, signaling Beijing’s growing influence in the Western Hemisphere.
The credit, primarily denominated in yuan, will be made available to finance infrastructure projects, green energy initiatives, digital innovation, and healthcare development across the region.
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“Our shared future depends on cooperation,” Xi said. “Through these partnerships, we aim to help our friends in Latin America and the Caribbean achieve sustainable growth.”
China also unveiled a new visa-free travel policy for citizens from five countries in the region—though Beijing has yet to specify which nations are included. Observers see this as both a symbolic and practical gesture to boost bilateral ties.
Trade between China and the region has ballooned from $12 billion in 2000 to more than $515 billion in 2024, reflecting the dramatic acceleration of Chinese involvement.
The initiative aligns with China’s broader geopolitical strategy, particularly under its Belt and Road framework, and raises fresh concerns in Washington and Brussels about Beijing’s expanding global footprint.
