SANTIAGO, Nov 10 (Reuters) - China Construction Bank Corp (CCB) , the country’s second biggest lender, is set to start up operations in Chile to facilitate Asian investments in the region, President Michelle Bachelet said on Monday.
CCB will set up shop in Chile, where more than 20 banks already operate, to channel investments in key sectors such as mining and telecommunications, Bachelet said at a meeting with Chinese business leaders, while in Beijing for the Asia-Pacific summit.
“We’re very happy with the great news that we’ve received that China Construction Bank is going to enter Chile, with the aim of establishing itself and providing services mainly to Chinese companies that invest in the region,” said Bachelet.
Chile is the world’s top copper producer, while China is its main trade partner and the principal consumer of the industrial metal.
The CCB “going to Chile is not only to do business directly in Chile, but to set up a platform to also do business with other Latin American countries,” Bachelet said. (Reporting by Felipe Iturrieta; Writing by Anthony Esposito; Editing by Bernard Orr)