An industrial park was launched Thursday in southern China's Guangdong Province to boost economic ties between China and Latin American countries.
The Hengqin China-Latin America Economic and Trade Cooperation Park was set up in Hengqin New Area in the city of Zhuhai, costing 2.5 billion yuan (378 million U.S. dollars). Its services include legal aid, policy research, trade facilitation and e-commerce.
Businesses in the park signed 15 cooperation agreements Thursday, according to the park managers.
Zhuhai sits in the Guangdong-Hong Kong-Macao Greater Bay Area and works with Macao to boost economic ties with Portuguese-speaking and Spanish-speaking countries.
Guangdong is a top foreign trade province in China. Last year, it accounted for one-sixth of China-Latin America trade. Guangdong businesses invested around 1 billion U.S. dollars in Latin America in 2016, while investment the other way -- from Latin America to Guangdong -- reached 1.5 billion U.S. dollars.