Xi Jinping in Peru to Unveil China-Funded Megaport in Chancay Amid Protests | Firstpost America Chinese President Xi Jinping is visiting the Latin American nation of Peru where he will be unveiling a Chinese-funded megaport in Chancay City,

Chinese President Xi Jinping opens the Chancay deep-water port in Peru:: The port is a $1.3 bln Beijing investment to boost its trade and influence in South America:: November 14, 2024:: Lima, Peru:: Xi Jinping,

Chinese President Xi Jinping launched a week-long diplomatic blitz of South America on Thursday by inaugurating a massive deep-water port in Peru, a $1.3 billion investment by Beijing as it seeks to expand trade and influence on the continent.

China's ageing population is burdening its pension system, and although the country abandoned its 35-year-old one-child policy in 2015, it has struggled to boost the birth rate.

A remote fishing town on the edge of Peru’s coastal desert is the site for a $1.3 billion megaport majority-owned by the Chinese shipping giant Cosco

The Chinese state enterprise-owned Chancay port can berth some of the largest container ships, and potentially Chinese warships.

The port opening in Chancay underscores China’s growing clout in a region that once looked primarily to the United States for economic opportunity.

Chinese President Xi Jinping is set to inaugurate a mega port on the Peruvian coast, a project expected to speed up trade between South America and Asia-Pacific. However, local residents are not amused that there are no opportunities for them.