LIMA (Reuters) -Chinese President Xi Jinping launched a week-long diplomatic blitz of South America on Thursday by inaugurating a massive deep-water port in Peru, a $1.3 billion investment by Beijing as it seeks to expand trade and influence on the continent.

Chinese President Xi Jinping began his week-long diplomatic visit to Latin America on Thursday with the virtual inauguration of Chancay Port in Peru. The $1.3 billion project, funded by China, is expected to become a major trade hub between South America and Asia.

China’s President Xi Jinping joins host and counterpart Dina Boluarte to inaugurate Chancay Port in Latin American nation of Peru - Anadolu Ajansı

Chinese President Xi Jinping said on Thursday during talks with Peru's Dina Boluarte in Lima that China is willing to take the Chancay port, built and controlled by Chinese state-owned Cosco Shipping,

TEMPO.CO, Lima - Chinese President Xi Jinping launched a week-long diplomatic blitz of South America on Thursday by inaugurating a massive deep-water port in Peru, a $1.3 billion investment by Beijing as it seeks to expand trade and influence on the continent.

A new China-backed megaport in Peru may create whole new trade routes that will bypass North America entirely.

By Alek Buttermann The inauguration of the Chancay Megaport in Peru marks a significant moment for regional trade, with the facility set to become South America’s largest commercial port. Developed by China's state-owned Cosco Shipping,

China's leader, Xi Jinping, virtually inaugurated the large Chancay port near Lima on Thursday. Built, financed, and controlled by a state-owned Chinese company, the port aims to streamline direct goods transport between Asia and South America.