The Brazil-China Cooperation Fund for the Expansion of Productive Capacity (China-Brazil Fund) was officially launched on 30 May 2017 local time in So Paulo, Brazil. China-Latin America Production Capacity Cooperation and Investment Fund Co., Ltd. (China-Latin America Production Capacity Fund) signed the fund establishment documents with the Brazilian Ministry of Planning, Budget and Management (Brazilian Ministry of Planning). The China-Brazil Fund Steering Committee held its first meeting, deliberating and adopting the China-Brazil Fund Operating Procedures, thus officially kick-starting the China-Brazil Fund.

Pan Gongsheng, Deputy Governor of the People's Bank of China and Administrator of the State Administration of Foreign Exchange, Li Jinzhang, Ambassador of China to Brazil, and Dyogo Oliveira, Brazilian Minister of Planning, were present at the ceremony.

The official launch of the China-Brazil Fund, established based on the consensus between the heads of state of both countries, is a key measure of the China-Latin America Production Capacity Fund to implement China's Belt and Road Initiative and going global strategy, and will be favorable for both sides to carry out production capacity cooperation and seek mutual benefit. Next, the China-Brazil Fund will focus on boosting strategic cooperation between China and Brazil and robust operation of the Fund, based on the market-oriented operation mechanism.