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China and Mexico to set up $2.4 billion investment fund

Staff writer ▼ | November 14, 2014
China and Mexico will set up a $2.4-billion investment fund to support infrastructure, mining, and energy projects and are eyeing an oil deal worth up to $5 billion, Mexican President Enrique Pena Nieto said.
China and Mexico
Cooperation   To support infrastructure, mining, and energy
"I want to stress that the basis of our relationship is trust," Pena Nieto told reporters in Beijing after meeting Chinese President Xi Jinping.

"Now Mexico-China relations are broader, more stable, more productive and more beneficial for our people."

Mr. Pena Nieto also said three Chinese firms would invest up to $5 billion to finance projects for Mexican oil company Pemex, including the Ramones pipeline. He and Mr. Xi oversaw the signing of 14 pacts, including a China Development Bank deal with Bancomex and Pemex to help with petroleum projects, as well as between Industrial and Commercial Bank of China and Pemex and Chinese oil giant CNOOC.

No details of any of the agreements were provided.