On November 2, the 16th China-LAC Business Summit opened at the National Convention Center in Beijing. More than 1,000 participants attended the event, including government officials from China and Latin American Countries, heads of international organizations, heads of trade promotion agencies and business associations from China and Latin American Countries, and well-known entrepreneurs.

The Summit is China's first institutional economic and trade promotion platform for Latin America. Themed "Open Innovation, Shared Development", the two-day event has a tight schedule including an opening ceremony, a plenary session, four parallel meetings, and five supporting activities. It aims to give new impetus to promoting China-LAC cooperation, bilateral trade and investment, and the building of a China-LAC community with a shared future.

Ren Hongbin, Chairman of the China Council for the Promotion of International Trade (CCPIT), said at the opening ceremony that since its establishment in 2007, the China-LAC Business Summit has been an important platform for economic and trade cooperation under the framework of the China-CELAC Forum. By strengthening its partnership with the People's Bank of China (PBC), the Inter-American Development Bank (IDB), and other institutions, CCPIT will fully play its role as a bridge between government and enterprises, between domestic and international markets, and between supply and demand, so as to enhance China-LAC economic and trade relations in terms of scale, scope, and level.

During the opening ceremony, the China-Latin America and the Caribbean Business Cooperation Beijing Initiative was unveiled. It calls for efforts to develop the digital economy, promote cooperation in agriculture, culture, and tourism, tap the potential of the green economy, and build a China-LAC community with a shared future.