
On his way to the G20 summit in Rio de Janeiro in November, Chinese President Xi Jinping met with Peruvian President Dina Boluarte to officially open a new US$3.6 billion (A$5.8 billion) deepwater mega-port in Peru called Chancay.
China’s state-owned Cosco shipping giant had purchased a 60% stake in the port for US$1.6 billion (A$2.6 billion), which gave the company exclusive use of the port for 60 years.