Guests attend the 18th China-LAC Business Summit in Zhengzhou, central China's Henan Province, Nov. 3, 2025. (Xinhua)

Zhengzhou - Government officials, diplomats, experts and business representatives from China and more than 20 Latin American and Caribbean (LAC) countries gathered on Monday in Zhengzhou, central China's Henan Province, to chart a course for expanded trade and economic collaboration.

An initiative, officially called "Zhengzhou Initiative on China-LAC Business Cooperation," was launched at the opening of the ongoing 18th China-LAC Business Summit held in Zhengzhou, which outlined five key areas of cooperation to boost trade, promote industrial upgrades, build connectivity hubs, enhance people-to-people exchanges, and explore an innovative, smart future.

Initiated by the China Council for the Promotion of International Trade (CCPIT), the summit is China's first institutional platform for promoting economic and trade ties with LAC countries. The two-day event, themed "Embracing Innovation and Intelligence for a Shared Future," includes an opening ceremony, plenary sessions, four parallel meetings and five supporting activities.

CCPIT Chairman Ren Hongbin hailed the summit as a "flagship brand" for practical cooperation. He pledged to work with LAC partners to advance economic and trade relations on a larger scale, in broader areas and at higher levels.

Uruguayan Vice Minister of Foreign Affairs Valeria Csukasi noted that cooperation with China has injected new vitality into Global South countries, emphasizing the summit's role in boosting trade and expecting further progress as the cooperation mechanisms deepen.

Concrete business engagements are underway, with enterprises from both sides set to reach intentions of cooperation in electronic information, cross-border e-commerce, agriculture and food, logistics, as well as new energy vehicles. Several memorandums of understanding are expected to be signed between trade promotion agencies and chambers of commerce.

This year's summit is co-hosted by CCPIT, the Henan provincial government and the People's Bank of China.