Xi Jinping Opens China-Funded Port In Peru

Chinese President Xi Jinping and Peruvian President Dina Boluarte participated in the virtual opening ceremony of the Chancay Port on November 14. Xi arrived in Peru earlier in the day to begin a state visit and attend the 31st APEC Economic Leaders’ Meeting. During the ceremony, the leaders listened to updates from transportation officials from both nations and watched a video presentation on the Chancay Port project. Representatives on-site sought approval from the leaders to commence port operations. Both Xi and Boluarte jointly announced the opening of the port.Located 80 kilometres north of Lima in Chancay Bay, the port is a flagship project under the Belt and Road Initiative and the first smart port in South America. It is set to become a key hub in Latin America and a gateway to the Pacific. The first phase of the project will reduce shipping time from Peru to China to 23 days and cut logistics costs by over 20 percent. It is projected to generate 4.5 billion US dollars annually for Peru and directly create more than 8,000 jobs.