Chinese investment in Mexico clearly on the rise
The total volume of commerce between Mexico and China reached US$80 billion in 2015, informed the Mexican Entrepreneurial Council of Foreign Commerce (COMCE). “Despite the current situation in the U.S., the Mexico-China relation has a positive outlook for 2017 and the communication could increase. Chinese companies expect to keep coming to Mexico. Investment will go up in 2017”, said Yaogang Chen, CEO of the Industrial and Commercial Bank of China (ICBC) in Mexico. The bank’s bet is to finance corporations, mainly for infrastructure, energy, telecommunications and manufacture. Besides, after the successful bid for Pemex’s Round 1.4, “ICBC has been in talks with China National Offshore Oil Corporation (CNOOC)”, said Chen. Even the volatility of the peso might benefit investment in Mexico, as companies have systems to mitigate these effects, said the CEO of ICBC.