Shanxi targets Portuguese-speaking markets


Updated: 2019-11-11

A symposium for companies from Shanxi province, Macao and as well as Portuguese-speaking countries was held in Shanghai on Nov 7 -- to promote mutual investment and trade and help Shanxi companies expand into the markets of Portuguese-speaking countries.

More than 30 companies -- engaged in food production, management, cultural creation and professional services from Macao and Portuguese-speaking countries -- were represented at the event.

They carried out business matchmaking with food, catering, trade and agricultural companies from Shanxi at the symposium, co-hosted by the Shanxi Investment Promotion Bureau and the Macao Trade and Investment Promotion Institute. 

The Community of Portuguese-Speaking Countries -- an international organization whose members include Portugal, Brazil, Angola and Mozambique --represents an emerging market with a population of 250 million, featuring enormous investment and cooperation potential. 

Shanxi has had an increasingly closer relationship with Portuguese-speaking countries in relation to the economy, culture, education, science and technology in recent years. Shanxi's investment enterprises in Portuguese-speaking countries are mainly distributed in Brazil, with total investment currently standing at $11.91 million in the manufacturing, wholesale and retail sectors.

The province's contracting projects for Portuguese-speaking countries are mainly distributed in Angola and Mozambique. Officials said the contract value of the projects currently under construction is about $910 million, involving housing, power engineering, oil storage, cement and other projects. 

Portuguese-speaking countries, meanwhile, have invested in two companies involved in real estate and catering in Shanxi, mainly from Brazil, with a total investment of $3.1 million. 

Earlier this year, in January, at Shanxi's two sessions, Chen Bingqiang, member of Shanxi Provincial Committee of the Chinese People's Political Consultative Conference, suggested that Shanxi regularly organize a tour by Shanxi brands of Portuguese-speaking countries. 

This, he said, could develop the province as a product display platform and distribution center for Portuguese-speaking countries in North China. 

Chen added that it was also necessary to strengthen tourism cooperation between Shanxi and Portuguese-speaking countries -- as many residents of Portuguese-speaking countries have a special affection for Chinese traditional culture and art and Shanxi is one of cradles of Chinese civilization. 

In addition, Portuguese-speaking countries are major potential markets for the development of traditional Chinese medicine (TCM) industry. 

Cooperation in the sector would help the development of TCM in Shanxi, Chen added.