Economic Watch: Smarter, greener cooperation energizes China-LAC ties

ZHENGZHOU, Nov. 5 (Xinhua) -- Lazarojim Campos Martinez did not travel all the way from Cuba to central China just to talk about sugar or cigars -- he was seeking a broader spectrum. And in a bustling conference hall, the president of Grupo de la Electronica found himself captivated by a small, intelligent agricultural machine.

Martinez was participating in a business-matching session held as part of the just-concluded 18th China-LAC (Latin American and Caribbean) Business Summit in Zhengzhou, the capital of Henan Province, which drew government officials, diplomats, experts and business representatives from China and more than 20 LAC countries.

"We exchanged contacts with executives from various companies, spanning agriculture, electronics and automotive manufacturing," he said. This wasn't the old commodity-based trade of the past, but something newer and smarter.

This shift was the central theme of this year's summit, where the usual diplomatic handshakes were overshadowed by the quiet whirring of robot dogs and the sleek silhouettes of electric vehicles (EVs). The gathering served as a live demonstration of how technology is accelerating and reshaping the economic bonds between distant partners.

Long a cornerstone of exchange between China and LAC countries, the agricultural sector is being digitally remastered. For Gustavo Gonzalez, a rural development official from Uruguay, his first trip to Henan hinted at a partnership reaching beyond conventional farming.

"The cooperation prospects in smart agriculture are vast," said Gonzalez, shortly after his agency signed a memorandum of cooperation to establish a joint "agricultural technology demonstration base" with Henan Agricultural Investment Group Co., Ltd. The collaboration will focus on the introduction and registration of new crop varieties, as well as technical training and other areas, moving the partnership up the value chain.

The technological ambition on show at the summit, however, extended far beyond farmlands. The atmosphere was abuzz like a tech expo, with new drones and self-driving buses drawing crowds and showcasing cutting-edge applications. LAC delegates spoke fluently about Chinese EV makers like BYD, Geely and Chery, as these companies make tangible inroads into the region's markets.

This familiarity is grounded in hard numbers. Figures from E-Bus Radar show that as of October 2025, over 7,000 electric buses are already in operation across Latin America, many of which are Chinese-made. And Yutong Bus, which is headquartered in Henan, reported that it had exported over 2,000 new-energy vehicles to the region by September this year -- accounting for nearly 30 percent of its total exports to Latin America.

"In Mexico, you can find Yutong buses on our streets, and many other Chinese companies are also operating there," said Victor Cadena, executive vice president of the Mexican Chamber of Commerce in China.

Underpinning this burgeoning high-tech trade is a critical logistics network, with a "dual-hub" air cargo project between Zhengzhou and Mexico City now operating five flights weekly to form a crucial intercontinental link.

"I see the dynamism here," Cadena said on his third visit to the province. The dynamism is quantified by customs data showing that Henan's trade with Latin America grew 10.5 percent year on year in the first three quarters of 2025, with 17,000 tonnes of cargo already having flown through the new air route -- about 90 percent of shipments from Zhengzhou to destinations such as Colombia, Peru and Venezuela being cross-border e-commerce goods.

The broader picture is one of historic momentum. The total trade volume between China and Latin America hit a record 518.4 billion U.S. dollars in 2024, doubling the figure seen a decade ago. This new chapter, however, is about moving beyond simply increasing trade volumes to rooting investments deeply within local economies.

The planned entry of Chinese tea chain Mixue Bingcheng into Brazil exemplifies this shift, expanding past mere exports to building local supply chains and generating up to 25,000 jobs.

"This will bring significant investment," said Jose Ricardo dos Santos Luz Junior, co-chairman and CEO of LIDE China. "China offers Brazil thousands of products that can go beyond export to achieve localized development."

For officials like Uruguayan Vice Minister of Foreign Affairs Valeria Csukasi, who emphasized the summit's role in boosting trade, this tech-driven, multifaceted cooperation with China has injected new vitality into countries of the Global South, with further progress expected as mechanisms expand. ■