China and Peru held an investment forum in Lima Tuesday to shore up bilateral trade and investment.

Around 200 entrepreneurs and business people from both countries took part in the gathering to discuss more opportunities in two-way trade and investment.

Peru's Cabinet Chief Jorge del Castillo said in the opening speech that Peru welcomes Chinese investments in such sectors as mining and setting up new factories.

Chinese Ambassador to Peru Gao Zhengyue said bilateral trade and investment developed at a fast pace and China has become Peru's second largest trading partner and exporting market.

The two countries's trade has reached US$4.4 billion so far this year, up US$800 million from the total of 2006, according to the ambassador.