The People's Republic of China (PRC) tripled its investment in Brazil in 2021, making the South American nation a major destination for Chinese capital, the Folha de S.Paulo newspaper wrote, citing data from the Brazil-China Business Council.
According to the organization, in 2021, China invested in Brazilian startup projects, infrastructure and the oil sector. In total, Beijing spent $5.9 trillion, with Chinese investment in Brazil totaling $1.9 billion in 2020.
Brazil accounted for 13.6% of China's foreign investment transactions. 85% of investments last year were in the raw materials sector, namely the development of offshore fields "Buzios", which are located near the Brazilian resort state of Rio de Janeiro.
Brazil and China, along with Russia, India and South Africa, are members of the BRICS alliance.