China’s Growing Footprint in Latin America: Insights from the IBA Conference in Punta del Este  

Following China’s USD 3.5 billion investment in Peru’s Chancay Port in late 2024, last year’s Latin America IBA in Peru buzzed with discussions on China-related projects. This year at Punta del Este, the conversation hasn’t slowed—there’s even a dedicated panel titled Investment Coming from China: M&A and Other Businesses and Their Challenges, co-chaired by Cesar Amendolara from Velloza Advogados (São Paulo) and Rafael Boisset from Philippi Prietocarrizosa Ferrero DU & Uría (Lima).

The heavyweight panel featured general counsels and experts from ventures backed by China’s most influential companies:

 

• Fabiana Siviero (São Paulo), General Counsel of 99 (Didi Group—China’s ride-hailing giant);
• Alfonso Rebaza (Lima), General Counsel of COSCO Shipping’s Chancay Port;
• Gillian Paredes Guerrero (Lima), of Luz del Sur (acquired by China Three Gorges Corporation);
• Javier Lozada (Buenos Aires), Of Counsel at Bruchou & Funes de Rioja and President of the Board of Directors of the Argentine-Chinese Chamber of Commerce.
   

All panelists have substantial experience working with Chinese colleagues and stakeholders. Their observations highlighted key cultural nuances in negotiations, like the importance of guanxi (relationships), mianzi (face), and Confucian principles, alongside adapting to different working styles through extensive and skillful communication. They noted that intensifying people-to-people exchanges are bridging the cultural gap: more Chinese professionals now speak Spanish, cook local dishes, and host Latin American counterparts at headquarters in China.

When asked about China’s M&A appetite compared to European counterparts, the panel outlined three standout traits:

1. Long-term vision: Chinese investors often endure decades before projects turn profitable, unlike peers seeking quick financial returns. With 14 completed five-year plans and the 15th (2026–2030) underway, China demonstrates unmatched persistence.
2. Strategic targets: Focus areas tie to national priorities like people’s livelihoods—EVs, food, and commodities.   
3. Resilience: Even amid shifting Latin American leadership or policies, Chinese plans adapt and endure.

Opportunities come with challenges. The panel addressed geopolitical tensions, with cybersecurity and data privacy topping lawyers’ concerns. ESG factors also demand rigorous attention in the region.

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