China will increase investments in Mexico due to tensions with the US
Between 2020 and 2025 thousands of Chinese companies from different sectors will accelerate their investments in Mexico, this as a consequence of the commercial tension between China and the United States, assured the Jiangsu Chamber of Commerce of China in Mexico.
Data revealed by the agency indicate that so far approximately 70 thousand Chinese businessmen have taken their investments out of U.S. territory.
Within the framework of the first year of the Strategic Commercial Coalition between the business sector of Mexico and China, Zhengjie Zhao, Jiangsu Chamber of Commerce of China in Mexico, assured that the sectors that will receive the most investment in manufacturing, textiles, automotive and basic technology.
He emphasized that without a Trade Agreement between Mexico and China, the Asian country would generate a commercial exchange of more than 19 billion dollars annually thanks to the Trade Coalition between the business sectors of both nations, which will increase in the following years.
For his part, Guillermo Perez, president of Corsa Corp. (a coalition organization between Mexican and Chinese businessmen), pointed out that another sector that will benefit on Mexican soil will be tourism, which has been seriously affected by the Covid-19 pandemic.
Both representatives assured that the "Asian wave in Mexico" will generate thousands of jobs in the coming years.
An example of this, they agreed, is the installation of Chinese micro-SMEs in the country and the arrival of more companies linked to basic technology due to the favorable investment conditions granted by Mexico.