LIMA, Nov 15, 2024 (BSS/AFP) - Chinese President Xi Jinping on Thursday
inaugurated Latin America's first Beijing-funded port in Chancay, Peru -- a
symbol of the Asian superpower's growing influence on the continent as it
prepares to face off with a new Donald Trump administration.

The $3.5-billion complex, about 50 miles (80 kilometers) north of Lima, is
meant to serve as a hub for Chinese trade as the country is under threat of
major tariff hikes once Trump reenters the White House for a second term.

The port was officially opened in a ceremony overseen virtually by Xi and
Peruvian counterpart Dina Boluarte from Lima, where they will attend an Asia-
Pacific Economic Cooperation (APEC) summit on Friday and Saturday.

"China plays a major role in the growth of our economy," Boluarte said at the
event, even as a US official warned Latin American nations should be vigilant
on Chinese investment.

"We believe it is essential that countries across the hemisphere ensure that
PRC (People's Republic of China) economic activities respect local laws as
well as safeguard human rights and environmental protections," Brian Nichols,
the top US diplomat for Latin America, said in Lima.

Xi, for his part, said the port would help "promote connectivity" between
South America and China.

"We are witnessing... the birth of a new land-sea channel between Asia and
Latin America in the new era," Xi said

US President Joe Biden also arrived Thursday to attend the APEC summit in
Peru, which Nichols described as a "crucial ally."

- Belt and Road -

Peru -- one of Latin America's fastest-growing economies over the past decade
-- is China's fourth-largest Latin American trading partner, with bilateral
flows of nearly $36 billion in 2023.

Chancay port will also serve Chile, Colombia, Ecuador and other South
American countries, allowing them to skirt ports in Mexico and the United
States as they trade with Asia.

Chancay is the latest addition to a vast collection of railways, highways and
other infrastructure projects built under China's massive Belt and Road
Initiative to stimulate trade and boost Beijing's political clout.

Hong Kong-listed Cosco Shipping Ports, which owns 60 percent of the port, has
a 30-year concession to operate the terminal and has forecast it will handle
up to a million containers in its first year of operation.

Cosco Shipping Ports is a subsidiary of China's COSCO Shipping Corporation.

The port's maximum depth is 17.8 meters (58.4 feet), allowing it to handle
the world's biggest container ships.

Chancay, a fishing town of some 50,000 inhabitants, was chosen for its
strategic location in the heart of South America.

It is now expected to become a major hub for imports of Asian electronics,
textiles and other consumer goods and for the export of minerals -- including
lithium and copper.

Xi described the complex as South America's "first smart and green port."

Once completed, he said, it will reduce the transit between China and Peru by
more than 10 days, and cut logistics costs by over 20 percent.