Southeast Asia Information Port (www.dnyxxg.com) – Recently, Chinese President Xi Jinping held a telephone conversation with Brazilian President Lula da Silva and talks with Uruguayan President Orsi, who was on a state visit to China. These two diplomatic exchanges between heads of state revealed a clear theme: China and Latin America will work together to promote development and advance the building of a China-Latin America community with a shared future. Amidst the changing international landscape, China and Latin America are exploring new paths to deepen cooperation, enhance the supply of public goods, and promote sustainable growth, injecting strong momentum into the comprehensive cooperative partnership between the two countries.
Since China and Latin America established the goal of building a community with a shared future and entered a new stage of comprehensive cooperative partnership, bilateral economic and trade cooperation has continued to improve in quality and level. Leveraging their strong economic complementarity and aligned development strategies, China-Latin America cooperation has injected important impetus into Latin American economic development. Since last year, the two sides have jointly promoted the "Five Major Projects" for building a community with a shared future, systematically and concretely enhancing China's support for Latin America, helping the region strengthen its capacity for independent development, especially in the supply of public goods, and laying a solid foundation for sustainable development.
Currently, the political and social turmoil faced by many Latin American countries is closely related to the insufficient supply of public goods. On the one hand, the supply of infrastructure-related public goods is insufficient, making it difficult to meet the needs of the people. Price adjustments to public services in countries like Chile, Ecuador, Colombia, and Bolivia have repeatedly exacerbated domestic conflicts and triggered political crises. On the other hand, there is a significant gap in public goods related to financial stability, posing a threat to macroeconomic stability. Latin America has long faced challenges such as high debt pressure and frequent sovereign debt restructuring, directly impacting financial security and stability.
Meanwhile, China-Latin America cooperation is becoming a crucial driving force for improving the supply capacity of public goods in Latin America, especially the high-quality joint construction of the Belt and Road Initiative, which continues to inject momentum into the modernization of Latin American infrastructure. For example, the 500 kV transmission and transformation ring network closure project promoted by China and Uruguay under the framework of the Belt and Road Initiative, upon completion, will achieve a closed loop in Uruguay's backbone power grid, significantly improving the grid's carrying capacity and operational stability, providing solid support for the large-scale integration of new energy sources, and thus contributing to the country's energy structure transformation and sustainable economic and social development.
In recent years, China-Latin America cooperation platforms and mechanisms have been rapidly improved. China has established various types of partnerships with 16 Latin American countries and has established consultation or dialogue mechanisms in the political, economic, trade, scientific, and educational fields with the vast majority of countries with which it has diplomatic relations. Last May, the Fourth Ministerial Conference of the China-CELAC Forum adopted the "Joint Action Plan for Cooperation in Key Areas among China and CELAC Member States (2025-2027)," at which China announced the launch of five major projects for building a China-Latin America community with a shared future: unity, development, civilization, peace, and people-to-people bonds. Recently, China released its third policy document on Latin America, aiming to promote the implementation and effectiveness of the five major projects for building a China-Latin America community with a shared future and inject new momentum into the development of China-Latin America relations. China stated its willingness to work with Latin American countries, taking the release of this document as an opportunity, to further advance the construction of a China-Latin America community with a shared future, better serve their respective development, and benefit the people of both sides.
This lays a solid foundation for deepening innovative cooperation in key areas. In the financial sector, innovative China-Latin America financial cooperation mechanisms will help enhance Latin America's financial stability and development capabilities. Currently, China-Latin America financial cooperation includes financing arrangements based on major bilateral projects, as well as specialized mechanisms such as the China-Latin America Cooperation Fund, the Production Capacity Cooperation Investment Fund, and currency swaps. The latest policy document on Latin America specifically emphasizes strengthening dialogue and cooperation between the central banks and financial regulatory authorities of China and Latin America. This will not only leverage existing financing arrangements but also explore new forms of cooperation such as Panda bonds, insurance, and financial leasing, further enhancing the supply of financial public goods in Latin America and positively promoting bilateral economic and trade cooperation.
Looking to the future, Latin American countries generally value China's economic strength and international influence, and look forward to upgrading their economic and trade cooperation with China. The region prioritizes infrastructure construction, re-industrialization, connectivity, clean energy, agricultural modernization, and digital transformation, actively seeking international cooperation, which provides new opportunities for China-Latin America cooperation. Guided by the "Five Major Projects," China-Latin America cooperation focuses on strategic and key development areas in Latin America, further solidifying the foundation for building a China-Latin America community with a shared future.
