In an effort led by ProChile, ChileWeek China 2023 represents eight years of dedicated work aimed at showcasing the opportunities that Chile presents as both a provider of goods and services and a prime investment destination within this pivotal Asian market.
From October 14 to 20, 2023, the vibrant cities of Shenzhen, Chengdu, Beijing, and Shanghai will host a series of activities and gatherings as part of the Trade Mission. These events will be attended by a Chilean delegation participating in ChileWeek China 2023.
This initiative, organized by ProChile, seeks to inform key decision-makers within this vital Asian market about the potential Chile holds as a reliable source of goods and services, as well as a stable and attractive location for investment and tourism.
The eighth edition of this gathering will feature a diverse array of activities, including business seminars, sector-specific workshops, informative talks, cultural celebrations, gastronomic events, product exhibitions, and bilateral meetings, among others.
ProChile will support 20 exporting companies, providing them with the invaluable opportunity to enhance their understanding of the market dynamics and explore various marketing avenues through direct experiences and exchanges with relevant industry counterparts. These companies will engage in promotional activities within the Chinese market, including business meetings, technical visits, networking sessions, and promotional campaigns.
In 2022, Chile achieved exports totaling USD 97,491 million, marking a 3% increase from the previous year. Within this context, Asia accounted for USD 57,273 million of Chilean exports, reflecting a 5.8% growth compared to 2021. China, as the largest economy in the region, played a pivotal role in driving these figures. Notably, China stood as the destination for 39.4% of Chilean exports, totaling USD 38,447 million in value. This demonstrates a continuous increase in China’s share, rising from 38.5% in 2021 and 24.8% a decade ago in 2013.
China is the leading customer for various Chilean products, including copper, lithium, wine, and cherries.
To further encourage Chinese investment in Chile and to facilitate the establishment of more companies like Huawei, Didi, and Pacific Hydro in the country, InvestChile will actively participate in the official delegation. They will engage in official events, conduct a series of bilateral meetings, and embark on technical visits with potential investors. Additionally, InvestChile will host workshops focusing on strategic sectors.
It’s noteworthy that the InvestChile Project Portfolio concluded the first semester with a total of 493 initiatives in various stages of development, amounting to USD 27,878 million—an increase of 12.6% compared to the previous year. China holds the second-largest presence in the Portfolio, with initiatives valued at USD 4.636 million.
Furthermore, Chinese investors, supported by InvestChile, have submitted a significant number of applications for temporary visas, constituting 20% of the total applications over the past year.
Despite China being Chile’s primary trading partner and its growing presence in the country, Chinese investment in Chile faces several challenges. According to data from the Central Bank, China’s total investment in Chile stood at only USD 496 million as of 2021, representing a mere 6.1% of the overall Asian investment in the country.