China´s Citic Group Keen on Investing in Brazilian Agriculture

China´s Citic group is willing to make investments and partnerships on a plan by the Brazilian government for the recovery of degraded soils for conversion into agricultural productive areas, its president Hexin Zhu said.

Hexin met last week with Brazilian minister of Agriculture and Livestock Carlos Fávaro (pictured above) in Brasilia, to discuss the strengthening of cooperation, partnerships and technological and scientific exchanges between the two countries.

The minister presented to Citic executives the programme for the recovery of degraded pastures, aiming to recover 40 million hectares of low productivity pastures to increase agricultural production with carbon sequestration and maintenance of 66% of Brazil’s preserved territory.

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“We can, in ten years, double our food production, in terms of the environment, without the need for deforestation. We are aware of our responsibility in feeding Brazil and the world,” Minister Fávaro stressed.

Hexin Zhu stressed the interest in expanding the group’s activity with investments also in chemicals and fertilizers, as well as in storage.

“We are interested in advancing our partnership with Brazil and taking advantage of the favorable moment of political and economic stability provided by President Lula. That is why we seek the support of the ministry to further increase investments in the country”, the Chinese executive said.

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A subsidiary of the group has already invested, since 2017, in the seed sector in the region of Ribeirão Preto (SP).

The meeting was attended by the Group Chairman, Hexin Zhu; the Deputy General Manager, Guoquan Wang; the General Manager of the Department of Strategic Development, Wenhai Zhao; the Vice-General Manager, Department of Risk and Compliance, Danmei LI; the general manager of Citic Agriculture, Zhiyong Liu; the deputy general manager, Citic Agriculure, Yu SANG; LongPing AgriScience President, Liang Shi; and the Executive Secretary, Daniel Chen.

The Citic Group is a Chinese state-owned investment company and ranks 35th in the list of the 500 largest Chinese companies. The group has 44 subsidiaries and is present in 23 countries in Asia, Africa and Latin America.

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