China and the community of Latin American and Caribbean countries (CELAC) have worked together to promote the high-quality development of economic and trade cooperation over the years, writing a new chapter for building a China-CELAC community with a shared future.
In a recent address, Chinese President Xi Jinping said CELAC countries are important members of the developing world and take an active part in global governance and make important contributions to it. CELAC has grown to be an indispensable driving force behind global South-South cooperation, Xi said, adding that it has played an important role in safeguarding regional peace, promoting common development and advancing regional integration.
China maintains its position as Latin America's second largest trading partner. According to China's General Administration of Customs, the trade volume between China and Latin America and the Caribbean exceeded $450 billion in 2021. In the first three quarters of 2022, the figure increased by 12.5 percent over the same period last year.