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25% overseas investments bound for Latin America
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China has poured 25 percent of its total overseas investments into Latin America, a Chinese trade official said Tuesday.

China's direct investments abroad amounted to US$90.63 billion by the end of 2006, according to figures released by the Commerce Ministry of China.

The investments in Latin America will increase as ties between China and the region are being strengthened, said Wang Jinzhen, vice president of China's International Trade Promotion Committee, at a special forum on Chinese investment in Latin America, held prior to the World Economic Forum from Wednesday to Thursday.

In 1978, China invested merely 200 million dollars in Latin America, and the figure rose to 10 billion dollars in 2000, said Wang.

The official said Chinese enterprises are engaged in 30,000 projects in Latin America at present.

She also said that the increasing number of Chinese travelers represents business chances for Latin America's tourism sector, among many other sectors.

Some 14 million Chinese traveled overseas in 2007, and this figure is increasing, she added.

(Xinhua News Agency April 16, 2008)

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