China Highlights Mexico as Key Tech and Supply Chain Partner

China's ambassador to Mexico, Zhang Run, emphasized the growing significance of the economic partnership between the two countries, highlighting the strengthening supply chains and projecting expansion into high-end manufacturing and information and communications technologies.

Susana Duque, general director, Mexican Business Council for Foreign Trade (COMCE), noted Mexico's rising status as a prime destination for Chinese investment. She attributed this to Mexico’s robust industrial base, which supports the diversification of supply chains in key sectors.

The opening of new markets and the formation of strategic alliances have been crucial in bolstering the bilateral relationship. Key sectors identified for strategic collaboration include technology, manufacturing, and communications, which promise mutual benefits.

The China International Supply Chain Promotion Expo, as reported by El Ciudadado, serves as an essential platform to further these ties. 

China, being Mexico's primary trading partner in the Asia-Pacific region, presents significant opportunities for economic and technological development due to the complementary nature of both economies. Representatives at the event highlighted the growing interest in innovation and advanced manufacturing.

Ambassador Zhang Run pointed out that trade and investment cooperation between the two countries is reaching new heights, with bilateral trade exceedingUS$100 million in 2023 and showing a more balanced structure. The resumption of the Hainan Airlines flight to Mexico is an example of how connectivity is being strengthened, he added.

Mexico-China Relations

In 2023, according to federal government data, Mexico excelled in its exports of copper minerals and concentrates to China, reaching a value of US$3.3 billion. The leading Mexican exporting states were Sonora with US$2.6 billion, followed by Mexico City with US$1.9 billion, and Puebla with US$1.3 billion.

In the same year, Mexico's primary imports from China were telephones, including mobile phones and other wireless network phones, totaling US$9 billion. The leading Mexican entities for these imports were Mexico City with US$2.7 billion, Chihuahua with US$1.7 billion, and Jalisco with US$1.4 billion.

In the first quarter of 2024, Foreign Direct Investment (FDI) from China to Mexico amounted to US$2.7 billion. During this period, the states receiving the most FDI were Coahuila, Chihuahua, and San Luis Potosi.

Regarding remittances, in the first quarter of 2024, Mexico received US$306,000 from China, while China received US$1.49 million from Mexico.