China Inc and Chile Inc in Sync
Talking about the success of Chile Week in China is nothing new, the most recent edition being no exception. ProChile, ASOEX, and others racked up deals with China’s second largest offline and online supermarket chain, Suning; China Eastern, expanding a route for produce from Santiago to Ningbo (via Miami) and cutting travel time from 11 days to three; and signing a purchase and a sourcing agreement with Alibaba subsidiary Win-Chain.
But the most exciting announcements weren’t made in China, but Chile.
Legend Holding's subsidiary Joyvio announced this week that it had come to an agreement to buy 95% of Chilean salmon concern Australis from current owner Isidoro Quiroga (三文鱼产业又有大动作！). The deal, which will include a public buyout offer extend to the remaining shareholders through April 2019, values Australis at $880m. This sets a new M&A record in the Chilean salmon industry, beating the $850m August acquisition of AquaChile by Agrosuper.
Gold Anda Chile, produce-purchasing subsidiary of Shenzhen Golden Anda, opened its first fruit plant in the Maule region. The $10m plant is the first plant fully funded by Chinese capital in the region, can process 100 tons of fresh fruit per day and replaces the closures of plants from domestic firms like Iansa and Suazo Companies.
This beginning of the vertical integration of the produce supply chain from Chile to China will guarantee quality produce to China’s growing middle class while allowing for the investment in higher value-added supply chain processing in Chile.
Ultimately driving this activity is not just the existing demand, but the promise of future demand. At the Golden Anda opening, Chilean Agriculture Minister Antonio Walker quoted his Chinese counterpart: “this is just beginning; we have the whole interior of China to penetrate. There are a lot of markets still to be conquered.”
巴西海量大豆涌向中国 — 环球网
The US-China trade war continues to give opportunities to Brazil and Argentina to export soy to China.
China aboga por economía mundial abierta en foro de APEC — Forbes México
Xi aboga por estrechar lazos con Chile en reunión con Piñera — América Economía
Disputa comercial entre China y Estados Unidos ensombrece la cumbre del APEC — Economía y Negocios
The APEC meeting this week in Papua New Guinea was the site of the latest ruffling of feathers between China and the US, resulting in no final communiqué for the first time in the forum’s history.
Perú y China inician negociaciones para optimizar Tratado de Libre Comercio — América Economía
Perú y China inician negociaciones para optimizar Tratado de Libre Comercio — Larco Trade News
Peru and China kick off negotiations for FTA 2.0.
Argentine berries are sent to China for the first time. But cherries are stymied by the need for cold processing, making them have to go by boat.
Industria de acero pide frenar prácticas desleales de China — el Periódico
From Guatemala to Colombia, local steel producers are complaining about being undercut by Chinese production. Will it go to the WTO?
Didi, el rival chino de Uber, inicia operaciones en CDMX — Forbes México
Update your apps. Didi Chuxing launches service in Mexico City.
China y Japón, clientes mayoristas del tequila mexicano — Marco Trade News
China and Japan are becoming bigger consumers of Mexican tequila.
China eyes US$10 trillion in imports from LAC — Jamaica Observer
China's Ambassador to Jamaica Tian Qi says his country is looking to import $10 trillion in goods and services from across the world over the next five years.
China — LAC
Peru: Citrus exports to China increased by 51% — FreshPlaza
Mexico wants to increase vegetable exports to China — Fresh Plaza
Maersk ve potencialidad en la uva de mesa de la provincia peruana — Portal Portuario
Letter: Modern day off-shoring — Caribbean News
China conquista Suramérica, como socia comercial — El Nuevo Diario
Chile’s fruit growers embrace technology to stand out in Chinese market — Borneo Bulletin
Korea — LAC
$45bn Korean manager enters LatAm — Citywire Americas
Japan — LAC
India — LAC
ASEAN & Oceania — LAC
Huobi Lays Off 60% of its Brazilian Office — Crypto Globe
GCC — LAC
We didn’t see anything this week — what did we miss?