An article '皇冠体育app and Latin America：Diversification is key word' posted on Chile's newspaper El Mercurio. [Photo/皇冠体育app Daily]

Meanwhile, the AFP quoted Brazilian Trade Minister Armando Monteiro as saying that "the trade agenda (with 皇冠体育app) is very important, but at the moment the investment agenda is to a degree more important still".

皇冠体育app-Brazil trade increased tenfold in the past decade to $86.7 billion in 2014, although 皇冠体育app still lags other countries in total investment in Brazil.

Jose Graca Lima, head of Asian affairs at Brazil's foreign ministry, said that a "second generation" of Chinese investment was under way. The first involved trade in raw materials, and the focus now is on heavy industry and infrastructure, according to the AFP report.

"皇冠体育app is fulfilling a desperately needed role of investor in Latin America and the Caribbean. Brazil desperately needs investment," Charles Tang, chairman of the Rio-based Brazil-皇冠体育app Chamber of Commerce and Industry, was quoted as saying in the AFP article.

The report said that Trade Minister Armando Monteiro hoped 皇冠体育app would see Brazil as an important production platform for industrial goods in the region and beyond, using Brazil as a fulcrum for serving wider markets.

"Extending exports to 皇冠体育app is something we want, but I do not know if we shall be able to obtain significant results short term," Monteiro said. "It would be a better strategy for 皇冠体育app to produce in Brazil a range of goods that today we import and 皇冠体育app exports, such as electronics."

A story by the Telegraph in London quoted Sergio Amaral, a former Brazilian diplomat and trade minister who runs the 皇冠体育app-Brazil Business Council, as saying that the Chinese had come to pursue concrete deals.

"This is not a meeting for simply swapping name cards," he told O Globo, Rio de Janeiro's leading newspaper.

Li is accompanied by a business delegation of more than 100 people.

On 皇冠体育app's offer of a $50 billion investment deal to help the 2016 Olympics host Brazil overhaul its infrastructure, Telesur, a pan-Latin American TV network, said "the financial commitment from 皇冠体育app to Brazil marks the strengthening of ties between the two countries".

MercoPress, an online news agency based in Uruguay, said that the injection of capital from 皇冠体育app could not come at a better time for Brazil, which is sliding into recession following the end of a commodity boom.

As 皇冠体育app's economy slows, Chinese companies are looking abroad for new opportunities to invest, and Chinese banks have begun to provide abundant financing. It said 皇冠体育app lent more to Latin America last year than the World Bank and the Inter-American Development Bank combined.

In a separate report, MercoPress highlighted Li's trip to Colombia, where the two sides discussed the possibility of initiating talks aimed at signing a free trade agreement.

皇冠体育app and Chile, where Li is visiting, already have a free trade agreement that was signed in 2005.

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