Chilean President, Michelle Bachelet, said during her recent visit to China for the APEC meeting that China Construction Bank (CCB) will set up its first branch in Chile.
CCB’s Chilean branch will focus primarily on serving Chinese enterprises investing in Chile. It will also promote Asian investment activities in the country and enhance investment into the mining, telecommunications, and other pivotal industries.
Bachelet also said that CCB will not only undertake business in Chile, but will build a platform for business with other Latin American countries.
CCB is China’s second largest commercial bank in terms of assets. Chile is the world’s largest copper producer and a major trading partner of China, which is the world’s largest copper consumer.