国际产能合作 (guoji channeng hezuo): International cooperation in production capacity

During his 13-day visit to Latin America, Premier Li Keqiang signed 67 cooperative agreements with Brazil, Columbia, Peru and Chile worth more than 10 billion yuan ($1.61 billion).

In the past decade, trade between China and Latin America has grown rapidly. Currently China is the second-largest trade partner of Latin America, as well as an important export market for it. Exports to China account for 9 percent of Latin America's overall export volume.

As China has entered a new normal of slower growth, it will be hard to maintain the old economic cooperation mode and Latin American countries face new challenges in development. China and Latin American countries need to adapt to the new situation and strengthen communication to effectively support each other's economic development.

International cooperation in production capacity can effectively reduce construction costs, create more jobs and promote multi-industrial development, which is a new cooperation mode. It will not only be conducive to achieving win-win benefits for both China and Latin America, but also help the recovery of the world economy.