Private Chinese companies such as automaker Jac Motors and Huawei Technologies have made large investments in Brazil.
China Construction Bank’s purchase of Brazil’s Banco Industrial e Comercial BicBanco for about $730 million in cash is the latest push by a Chinese bank overseas.
Chinese banks have been gradually following their clients outside of China, many of whom are expanding in Latin America. ICBC bought 80% of Standard Bank’s Argentine division last year, and has hung out its shingle in Peru and Brazil.
Private companies such as automaker...