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Backgrounder: Key facts about China-Peru relations

Xinhua, November 18, 2016 Adjust font size:

Chinese President Xi Jinping will start a state visit to Peru on Saturday at the invitation of Peruvian President Pedro Pablo Kuczynski.

During his stay in Peru, Xi will attend the 24th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting and will deliver a speech to the APEC CEO Summit.

The following are some key facts about the bilateral relationship between China and Peru:

Peru established diplomatic relations with China in 1971. Since then, bilateral ties have developed smoothly with frequent exchanges of high-level visits, enhanced trade and economic cooperation and increased exchanges in the fields of culture, education, science and technology.

The two countries have established a comprehensive strategic partnership, the highest level of relations between China and Latin American countries.

The China-Peru Free Trade Agreement (FTA) was officially ratified by each country's government in December 2009 and went into effect on March 1, 2010.

In recent years, bilateral trade has remained on an upward trajectory, hitting a record level of nearly 15 billion U.S. dollars in 2015.

In the first eight months of this year, trade grew by 9 percent year-on-year, outpaced by a 21.8-percent uptick in Peruvian exports to China.

China has been Peru's largest trading partner, export market and source of imports for years, and Peru has become one of the top destinations in Latin America for Chinese investment.

Chinese investments in Peru have been wide-ranging, covering mining, hydrocarbons, infrastructure, financial services and more.

Over 170 Chinese businesses have invested more than 14 billion dollars in Peru, helping to create tens of thousands of jobs and new sources of tax revenue for local communities and benefiting the economic and social development in the country.

The robust people-to-people exchanges between Chinese and Peruvians have brought them even closer.

The four Confucius Institutes in Peru have attracted more than 4,000 registered students. Meanwhile, more and more Chinese admirers of the Inca civilization are hoping to visit Peru as tourists. Endit