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Chinese Investment Set To Rise Following President Boluarte’s State Visit

PERU
EM BulletHomepagemarkets-real-timeBulletEmerging Market News
  • China’s BYD is reportedly eyeing the possibility of building an auto assembly plant in Peru, according to foreign minister Javier Gonzalez-Olaechea. He said that the possibility came up during President Boluarte’s recent state visit to China and was made viable by the construction of the new Chinese-owned Chancay port.
  • Separately, state-owned China Minmetals Corp is exploring the possibility of building a railway that would connect its Las Bambas copper mine to a new port in Marcona, Finance Minister Jose Arista said yesterday. Following her state visit to China, President Boluarte also said yesterday that she hopes to sign an updated FTA with China in November.
  • In other news, 12-month inflation expectations edged down further to 2.53% in June, from 2.56% previously, according to data published by the BCRP. The USDPEN exchange rate is seen at between 3.76 and 3.79 at year-end. No other macro data are expected today, with focus turning to Thursday’s interest rate decision, when the central bank is expected to remain on hold at 5.75%.
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  • China’s BYD is reportedly eyeing the possibility of building an auto assembly plant in Peru, according to foreign minister Javier Gonzalez-Olaechea. He said that the possibility came up during President Boluarte’s recent state visit to China and was made viable by the construction of the new Chinese-owned Chancay port.
  • Separately, state-owned China Minmetals Corp is exploring the possibility of building a railway that would connect its Las Bambas copper mine to a new port in Marcona, Finance Minister Jose Arista said yesterday. Following her state visit to China, President Boluarte also said yesterday that she hopes to sign an updated FTA with China in November.
  • In other news, 12-month inflation expectations edged down further to 2.53% in June, from 2.56% previously, according to data published by the BCRP. The USDPEN exchange rate is seen at between 3.76 and 3.79 at year-end. No other macro data are expected today, with focus turning to Thursday’s interest rate decision, when the central bank is expected to remain on hold at 5.75%.