Economic Observer Online
By Jiang Yunzhang (降蕴彰)
Mar 14, 2012
Translated by Zhu Na
Original Articles: [Chinese]

Chongqing plans to invest $6 billion this year developing agriculture in Brazil, Argentina, Canada and other countries, officials said.

In recent years, the global supply of soybeans, corn, and cotton has been tight, and China's imports have been rising, encouraging businesses and officials from the municipality to seek investment opportunities abroad.

One of those businesses is Chongqing Grain Group, which plans to spend $1.2 billion on a Argentinian production base that will grow soybean, corn, cotton and other cash crops.

The company already grows soybeans at a facility in Brazil that it opened last year.