BUSINESS

Cover Story: How China Inc. Is Discovering Its New World in Brazil

By Zhao Xuan from Brazil, Bao Yunhong in Shanghai and Han Wei in Beijing

Published: Dec. 22, 2025 5:28 a.m. GMT+8

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For Duan, a Portuguese-speaking professional who moved from China to Brazil 12 years ago, the change is palpable. “There are clearly more Chinese people in São Paulo in 2025,” he said. “Chinese restaurants have been opening up one after another. There are at least 10 times as many as when I first arrived”.

The buzz is spreading. “Even people in my home village in Hebei province are asking me if it’s possible to make money here in Brazil.”

For a growing wave of Chinese businesses, the answer is a resounding yes. Brazil, Latin America’s largest economy and a global top-10 powerhouse, represents a new world of opportunities. With a population of more than 200 million people — 40% of whom are under 30 — the BRICS and G20 member offers a vast consumer base, abundant natural resources and regional influence that few emerging markets can match.

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Explore the story in 30 seconds

Chinese companies are rapidly expanding in Brazil, especially in EVs, digital platforms, mining, and renewable energy; Chinese automakers control over 10% of Brazil’s passenger vehicle market and 70% of its EV market in 2025.
Brazil’s challenges include complex tax laws, currency volatility, and strict labor regulations, driving firms to prioritize localization and regulatory compliance.
Latin America’s e-commerce is forecast to grow 12.2% in 2025, with Brazil as the region’s largest $78 billion online retail market.

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Explore the story in 3 minutes

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Who’s Who

Didi Global Inc.: Didi Global Inc. is strategically focusing on internationalization, viewing Brazil as a key market. Its ride-hailing platform, 99, operates there and has successfully competed with Uber, achieving comparable market share. Didi also runs 99Food in Brazil, contending with rivals like Meituan's Keeta in the food delivery sector. The company emphasizes understanding local needs and empowering local teams.

Kuaishou Technology: Kuaishou Technology is a short-video platform, and its international version, Kwai, has been operating in Brazil for eight years. Brazil is currently its largest overseas market. In late 2024, Kwai expanded into Brazil's cross-border e-commerce market, indicating its aggressive expansion in the country's digital landscape.

BYD: BYD is a Chinese automaker that is charging into the Brazilian EV sector. BYD's sales in Brazil rose 55% in the first nine months of 2025. This summer, BYD opened its first passenger car plant in Brazil, favoring full ownership of overseas plants for greater efficiency and control.

Great Wall Motor: Great Wall Motor is one of the Chinese automakers dominating Brazil's EV market. In the first nine months of 2025, its sales in Brazil rose by 31.3%. This year, Great Wall Motor and other Chinese automakers have captured over 10% of Brazil's passenger vehicle market and an estimated 70% of its EV segment. Great Wall Motor also opened its first passenger car plant in Brazil this summer.

Geely: Geely is a Chinese automaker actively expanding into the Brazilian market. They participated in the São Paulo International Motor Show in late November, which industry veterans called a "Chinese international auto show." Geely is forming a joint venture with Renault Group to leverage existing factories and dealer networks in Brazil, aiming to reduce initial investment and operational risks.

Chery: Chery is one of the Chinese automakers that dominated the São Paulo International Motor Show in late November, alongside BYD, Great Wall Motor, and Geely. Chery has shown rapid gains in the Brazilian market, with sales rising by 11.1% in the first nine months of 2025. Chinese automakers, including Chery, have captured over 10% of Brazil's passenger vehicle market and an estimated 70% of its EV segment.

GAC Group: GAC Group is an automotive company that recently entered the Brazilian market in May 2025. They have ambitious plans to establish 50 dealerships within the year. The company also intends to open a factory in the state of Goiás, indicating a move towards localized manufacturing in Brazil.

ByteDance: ByteDance's short video platform TikTok is a major player in Brazil's digital market, ranking as the ninth most-used app. In December, TikTok announced plans to invest 200 billion reais, or about $37 billion, in a large data-center complex in northeastern Brazil.

Alibaba Group: Alibaba Group, a prominent Chinese internet giant, is aggressively expanding into Brazil. Its presence in the country's digital market, particularly in e-commerce, is growing, challenging established players. This expansion is part of a broader trend of Chinese tech companies tapping into Brazil's substantial and receptive consumer base.

Pinduoduo: Pinduoduo, through its Temu platform, is aggressively expanding in Brazil's digital market. Brazil is an attractive market for e-commerce, with a large and growing consumer base. Temu is contributing to the high growth projections for online sales in Latin America, with Brazil being the region's largest online retail market.

Shein: Shein is aggressively expanding in Brazil's digital market, which is Latin America's fastest-growing e-commerce region. Competition from platforms like Shein is expected to keep online sales growth in double digits through 2027, with sales forecast to reach $113.9 billion by 2029.

Shopee: Shopee, backed by Tencent Holdings, is a major player in Brazil's e-commerce market. Its competition with platforms like Shein, Temu, and TikTok Shop is fueling significant growth in the region. Brazil is a crucial battleground for Chinese internet giants, where Shopee is expanding aggressively.

Tencent Holdings: Tencent Holdings is mentioned as backing Shopee, an e-commerce platform that is contributing to the double-digit growth forecast for online sales in Latin America through 2027. This competition, including from Shopee, is expected to push online sales to $113.9 billion by 2029.

Meituan: Meituan's food delivery platform, Keeta, is actively competing in Brazil's on-demand services market. Keeta faces strong competition from Didi's 99Food. This indicates Meituan's expansion into international markets, particularly within the digital services sector in Brazil.

Cainiao: Cainiao is a Chinese logistics provider that has expanded its operations in Brazil. This expansion is in response to the growing demand for delivery services, fueled by the surge in online retail within the country.

J&T Express: J&T Express, a Chinese logistics provider, has expanded its operations in Brazil. This expansion is in response to the surging online retail market in Brazil, aiming to support the rising demand for delivery services in the region.

iMile: iMile is a Chinese logistics provider that has expanded its operations in Brazil. It supports the rising delivery demand driven by the surge in online retail in the country. iMile operates alongside other Chinese logistics companies like Cainiao and J&T Express.

CITIC Metal Co. Ltd.: CITIC Metal Co. Ltd. (中信金属有限公司) is a unit of the state-owned conglomerate CITIC Group. In 2011, it led a consortium that acquired a 15% stake in CBMM, a Brazilian mining company and the world's largest producer of niobium. Niobium is a critical metal used in high-strength steel and batteries.

CITIC Group: CITIC Group, a Chinese state-owned conglomerate, has a long-standing presence in Brazil's mining sector. In 2011, its unit, CITIC Metal Co. Ltd., led a consortium that acquired a 15% stake in CBMM, the world's largest producer of niobium, a crucial metal for high-strength steel and batteries. This highlights CITIC's role in securing vital resources for China's industrial needs.

MMG Ltd.: In February, MMG Ltd. (金矿有限公司), a Chinese state-backed miner, agreed to acquire Brazil Nickel Corp. from Anglo American Plc for up to $500 million. This acquisition marks MMG's entry into Brazil's mining sector. The deal is currently under review by European Union antitrust regulators due to concerns it might affect ferronickel supply in Europe, potentially raising costs for stainless-steel industries.

CMOC Group Ltd.: CMOC Group Ltd. agreed to acquire four operational gold mines from Canada's Equinox Gold Corp. for $1.015 billion, expected to close in Q1 2026. The private mining group already has a large South American presence, notably its niobium-phosphate mine in Catalão, Goiás state. Operating in Brazil, CMOC's executive director, Du Zhijie, emphasized the precision required due to stringent environmental licensing.

State Grid Corp. of China: State Grid Corp. of China is a Chinese transmission operator embedded in Brazil's power sector. Its Brazilian subsidiary is constructing an ultra-high-voltage line in the northeast, which is slated to become Brazil's largest transmission concession. This project aims to address the country's power infrastructure bottlenecks, enabling new renewable energy projects despite transmission constraints.

China General Nuclear Power Group: China General Nuclear Power Group is identified as one of the Chinese generator companies operating within Brazil's power sector. Brazil has vast clean-energy potential, with nearly 90% of its electricity generated from renewable sources. These Chinese companies are significant foreign players in securing mineral and power supplies for the green-energy transition.

China Three Gorges Corp.: China Three Gorges Corp. is a Chinese energy generator operating in Brazil's power sector. It is one of the Chinese companies contributing to Brazil's vast clean-energy potential, mainly hydroelectric, wind, and solar, along with State Grid Corp. of China and China General Nuclear Power Group.

State Power Investment Corp.: State Power Investment Corp., a Chinese company, is involved in Brazil's power sector as a generator. Brazil possesses abundant clean-energy potential, with nearly 90% of its electricity generated from renewable sources.

Sany Renewable Energy Co. Ltd.: Sany Renewable Energy Co. Ltd. is mentioned as an equipment maker in Brazil's power sector, alongside other Chinese companies like Goldwind Science & Technology Co. Ltd. and Longi Green Energy Technology Co. Ltd. Guan Feng, their Latin America head, highlighted Brazil's northeast as one of the best global wind markets from a resource perspective.

Goldwind Science & Technology Co. Ltd.: Goldwind Science & Technology Co. Ltd. is a Chinese company mentioned as one of the equipment makers involved in Brazil's power sector. They operate in a market where Brazil's vast clean-energy potential, particularly wind, is attractive to Chinese companies, despite challenges like transmission bottlenecks and higher borrowing costs.

Longi Green Energy Technology Co. Ltd.: Longi Green Energy Technology Co. Ltd. is mentioned as one of the Chinese equipment makers, along with Sany Renewable Energy Co. Ltd. and Goldwind Science & Technology Co. Ltd., that are embedded across Brazil's power sector. Brazil's power infrastructure, however, faces bottlenecks due to transmission constraints, which are limiting new renewable projects despite strong underlying demand.

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What Happened When

2011：: CITIC Metal Co. Ltd., a unit of state-owned conglomerate CITIC Group, led a consortium that bought a 15% stake in the Brazilian mining company CBMM.

2013：: Tyler Li, CEO of BYD Brazil, first visited Brazil and observed that a business model based solely on imports would not be sustainable.

2015：: Brazil began waiving import duties on battery electric vehicles and offering tax breaks for hybrids.

2018：: Didi acquired Brazilian ride-hailing leader 99.

2019：: Brazil's e-commerce penetration was at 4.97%.

2020：: Brazil added 2.3 gigawatts of wind capacity.

2023：: Brazil's wind installations reached 4.9 gigawatts.

2024：: Growth in new wind power additions in Brazil slowed, with only 3.3 gigawatts added.

Starting in January 2024：: Brazil began gradually raising tariffs on imported new energy vehicles.

Since 2024：: China and Brazil signed a number of agreements deepening investment cooperation in the digital economy and sustainable development.

Late 2024：: Kwai entered Brazil’s cross-border e-commerce market.

February 2025：: China’s MMG Ltd. agreed to buy Brazil Nickel Corp. for up to $500 million; the deal is under review by European Union antitrust regulators.

May 2025：: GAC Group entered the Brazilian market and announced plans to establish 50 dealerships in 2025.

Summer 2025：: Both BYD and Great Wall opened their first passenger car plants in Brazil.

June 2025：: Brazil’s central bank raised its benchmark interest rate to 15%.

In the first nine months of 2025：: BYD, Chery and Great Wall's sales rose by 55%, 11.1%, and 31.3% respectively in Brazil.

Late November 2025：: At the São Paulo International Motor Show, Chinese automakers dominated the spotlight.

December 2025：: CMOC Group Ltd. agreed to acquire four operating gold mines from Equinox Gold Corp. for $1.015 billion; closing expected in Q1 2026.