YTCO(SH:600066) Xin Hua Wang·2025-11-06 00:17Core Insights - The 18th China-Latin America Entrepreneurs Summit was held in Zhengzhou, focusing on enhancing economic cooperation between China and Latin America, with significant participation from over 20 countries [1][6] - Agriculture and smart technology were highlighted as key areas for collaboration, with agreements signed for agricultural technology demonstration bases [1][6] - The summit showcased advancements in new energy vehicles, with Chinese brands like BYD and Yutong gaining recognition in the Latin American market [2][4] Group 1: Economic Cooperation - The summit facilitated discussions on cooperation in various sectors, including agriculture, electronic information, and automotive manufacturing [1] - A memorandum of cooperation was signed between the rural development agency of Canelones, Uruguay, and Henan Agricultural Investment Group to establish an agricultural technology demonstration base [1] - The trade volume between China and Latin America reached a historic $518.4 billion in 2024, doubling over the past decade [5] Group 2: New Energy Vehicles - As of October 2025, over 7,000 electric buses are operating in Latin America, with a significant number being Chinese brands [4] - Yutong has exported over 2,000 new energy vehicles to Latin America, accounting for approximately 30% of its total exports to the region [4] - The collaboration between Chinese companies and Latin American countries is expected to enhance public transportation with green, low-carbon solutions [4] Group 3: Local Investments - The establishment of a supply chain factory by Mixue Ice City in Brazil is anticipated to create 25,000 jobs, indicating a strong investment potential [6] - The cooperation between China and Latin American countries is seen as a source of new vitality for many nations in the South-South cooperation framework [6] - The weekly cargo flights between Zhengzhou and Mexico City have facilitated significant trade, with cross-border e-commerce goods making up about 90% of the cargo [5]