China and Peru have further strengthened their economic relationship with the signing of an upgraded Free Trade Agreement (FTA) on November 14. The agreement, along with the inauguration of the Chancay Port, a major Belt and Road Initiative project, underscores the growing strategic partnership between the two nations.

Chinese President Xi Jinping arrived in Peru today for a state visit and to attend the 31st APEC Economic Leaders' Meeting. The trip will further solidify the two countries' strategic partnership and underscore China's growing economic influence in the region.

Over the past week, leaders of Malaysia and Indonesia renewed their commitment to the Belt and Road Initiative (BRI) and extended welcomes to Chinese investment. This came amid growing scrutiny from the United States and the European Union regarding Chinese investments in South Asia, particularly those linked to the BRI.

In an interview yesterday, U.S. Trade Representative Katherine Tai addressed questions related to China building factories in Mexico for exporting to the United States, as well as the possibility of Brazil joining the BRI.

China's 2023 report on foreign direct investment (FDI) revealed that Chinese investment reached US$177.29 billion last year, with the majority going to Asian countries, while FDI in the EU and the U.S. dropped.

The recent Beijing Summit and Ninth Ministerial Conference of the Forum on China-Africa Cooperation (FOCAC) concluded with new pledges for financing, infrastructure development, and trade. These commitments underscore China's continued strategic focus on its relationship with Africa.

During the visit of Vietnam's new leader To Lam to Beijing this week, China and Vietnam signed 14 documents bolstering collaboration on railways, trade, and industrial development.