China, LAC nations deepen economic ties at Zhengzhou Summit

Government officials, diplomats, business leaders, and experts from China and more than 20 Latin American and Caribbean (LAC) countries gathered Monday in Zhengzhou for the 18th China-LAC Business Summit, aiming to expand economic cooperation and innovation-driven growth.

At the summit’s opening, participants launched the “Zhengzhou Initiative on China-LAC Business Cooperation,” a framework outlining five priority areas: trade expansion, industrial upgrading, connectivity building, people-to-people exchanges, and innovation-driven development.

Hosted by the China Council for the Promotion of International Trade (CCPIT), the two-day event marks China’s first institutional platform for fostering economic and trade ties with the LAC region. This year’s theme, “Embracing Innovation and Intelligence for a Shared Future,” underscores efforts to integrate technology and sustainability into cooperation.

CCPIT Chairman Ren Hongbin called the summit a “flagship brand” of practical collaboration and pledged to deepen partnerships “on a larger scale, in broader areas, and at higher levels.”

Representing Uruguay, Vice Foreign Minister Valeria Csukasi highlighted that cooperation with China has brought new vitality to Global South economies, expressing optimism for continued progress as bilateral mechanisms mature.

Concrete outcomes are already emerging, with enterprises from both sides exploring deals in electronic information, cross-border e-commerce, agriculture, logistics, and new energy vehicles. Several memorandums of understanding are expected to be signed between trade promotion agencies and chambers of commerce.

The 18th China-LAC Business Summit is co-hosted by CCPIT, the Henan provincial government, and the People’s Bank of China.