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Every year, Brazilian venture capital firm Monashees takes entrepreneurs from its portfolio companies on an overseas discovery tour.
巴西风投公司Monashees每年都会带领其投资组合公司的企业家们开展一次海外发现之旅。
This year, instead of Silicon Valley, the firm headed to the Yangtze Valley, in a clear sign of a new front opening for Chinese investment in Latin America.
今年，这家公司没有去硅谷，而是来到了长江流域，这表明，在拉美，一个新的前沿正向中国投资开放。
China is seeking to expand lending and investment in Brazil and elsewhere on the continent, as it shifts from its traditional resource focus to manufacturing, logistics and even technology.
中国正试图扩大在巴西和拉美其他国家的贷款和投资，同时从传统的资源焦点转向制造业、物流甚至科技。
The switch comes amid a prolonged slump in energy prices and an economic meltdown in Venezuela, which had dominated China’s push into the region.
发生这一转向的背景是能源价格长期低迷，委内瑞拉经济出现滑坡，而该国曾是中国进军拉美的主功方向。
With its own economic growth slowing, China is turning into an international financial investor, looking elsewhere for returns on investment as profit margins at home turn thin.
随着国内经济增速放缓，中国正变成一个国际金融投资者，在国内利润率下滑之际寻求在海外获得投资回报。
That means considering a broader range of industries than it has been targeting.
这意味着比过去考虑更多的行业。
Mergers and acquisitions tell part of the story.
并购交易在一定程度上讲述这一故事。
So far in 2016, Chinese companies have spent $11.9bn acquiring Brazilian counterparts, the highest since 2010, when Brazil was at the height of its commodity-driven economic boom, according to figures from Dealogic, the data company.
数据提供商Dealogic的数据显示，今年迄今，中国企业已斥资119亿美元收购巴西企业，为自2010年以来最高，当时巴西处于由大宗商品推动的经济热潮的顶峰。
Deals this year have been concentrated in utilities but span sectors ranging from food and beverage to transport.
今年的并购交易集中在公用事业机构，但也涉及从食品、饮料到交通的多个行业。
Monashees put Brazilian tech on Beijing’s map when it sold a local daily deal site, Peixe Urbano, to Chinese internet giant Baidu in 2014 for an undisclosed amount.
2014年，Monashees将其巴西团购网站Peixe Urbano出售给中国互联网巨头百度(Baidu)，收购金额未披露，此举让巴西科技企业进入中资的视线。
In leading a group of 60 entrepreneurs to China, Monashees is hoping to replicate that success.
今年Monashees率领60名企业家来到中国，希望复制这一成功。
The Brazilian group met all the biggest Chinese tech companies, from Baidu to Alibaba and Tencent, focusing on areas such as software as a service, fintech, e-health and education, said co-founder Eric Acher.
Monashees联合创始人埃里克.阿谢(Eric Acher)表示，巴西代表团访问了中国各大科技公司，包括百度、阿里巴巴(Alibaba)和腾讯(Tencent)，关注的领域涵盖软件即服务（software as a service，简称SaaS）、金融科技、电子医疗和教育等领域。
The group started 10 years ago and invests in Argentina, Colombia and Silicon Valley, in addition to its main focus, Brazil.
这家风险投资集团创建于10年前，主要投资于巴西，在阿根廷、哥伦比亚和硅谷也有投资。
China’s recent advances in innovation and technology were more tangible for Brazilian entrepreneurs, Mr Acher said: We can learn a lot from what happened in the last 15 years in China as an emerging market, the second-largest tech ecosystem in the world today.
阿谢表示，对于巴西企业家而言，中国近年在创新和科技方面的进步更为实实在在，他说：作为一个新兴市场以及全球第二大科技生态系统，中国在过去15年的发展可以让我们学到很多。
Beijing’s shift away from pure resources is important to maintaining investment flows into Latin America.
北京方面把投资焦点从纯资源转向其他领域，对于保持中国对拉美的投资流动相当重要。
In the downturn since 2012, World Bank lending to the region halved, Inter-American Development Bank lending stayed roughly even but Chinese lending soared, according to data from the OECD.
经合组织(OECD)的数据显示，在自2012年以来的经济低迷期间，世界银行(World Bank)对拉美的贷款减半，美洲开发银行(Inter-American Development Bank)的贷款基本保持不变，但来自中国的贷款出现飙升。
China is acting as the countercyclical lender, the stabiliser, says Angel Melguizo, head of the Latin American and Caribbean development centre under the OECD.
经合组织拉美和加勒比海发展中心负责人安吉尔.梅尔吉索(Angel Melguizo)表示：中国正在起到逆周期贷款机构的作用，成为一个稳定因素。
Much of that money has flowed into Brazilian energy and infrastructure.
很大一部分贷款流向巴西能源和基础设施领域。
But while earlier investment was into state-controlled infrastructure, replicating the Chinese model, new flows are basically market investments, said Marcos Caramuru de Paiva, Brazil’s ambassador in Beijing.
巴西驻华大使马尚(Marcos Caramuru de Paiva)表示，尽管之前的投资流向国家控股的基础设施，效仿中国的模式，但新的投资基本上属于市场投资。
It’s very much a demonstration of how dynamic the relations are.
这在很大程度上表明两国的经贸合作关系多么有活力。
China and Brazil are finalising details of a $20bn Sino-Brazilian bilateral investment fund, first announced last year, to which China will contribute $15bn.
中国和巴西正在敲定一个规模为200亿美元的中巴双边投资基金的细节，该基金最初于去年宣布，中国将出资150亿美元。
The new fund falls under the umbrella of the China-Latin America Industrial Cooperation Investment Fund, adding to its existing $30bn investment mandate.
新基金隶属于中国拉美产能合作投资基金(China-Latin America Industrial Cooperation Investment Fund)，将为目前300亿美元的投资规模再添一份力。
Han Deping, president of the CLAI fund, said future targets include renewable energy such as solar power; logistics and high-end manufacturing.
中拉产能合作投资基金总经理韩德平表示，未来的目标包括太阳能发电等可再生能源；物流以及高端制造业。
Latin America wants to move away from commodity exports, get into value-added processing, he said.
他表示：拉美希望减轻对大宗商品出口的依赖，转向增值加工产业。
Brazilian companies have had far less success in China, with mining giant Vale repeatedly rebuffed in attempts to invest on the Chinese mainland even at the height of China’s hunger for iron ore.
巴西企业在中国取得的成功要少得多，矿业巨头淡水河谷(Vale)曾试图在中国内地投资，但多次遭到拒绝，即使在中国对铁矿石的需求达到高峰时也不例外。
Monashees hopes to overcome that with an investment of its own into China, even as it seeks to attract Chinese money to its Latin American portfolio.
Monashees希望通过自己在中国的投资来克服这种阻碍，即使该公司也希望吸引中资投入其拉美投资组合。
Another Brazilian firm to target China’s relatively closed market is BRF Global, the world’s largest poultry supplier, which is setting up poultry operations in Southeast Asia with an eye to ultimately bringing its integrated supply chain into the mainland.
另一家瞄准相对封闭的中国市场的巴西企业是全球最大禽肉供应商BRF Global，该公司正在东南亚建立禽肉业务，希望最终将其集成供应链延伸至中国内地。
It already exports chicken parts, pork and beef to China.
该公司已向中国出口鸡肉、猪肉和牛肉。
That’s why we are interesting.
BRF Global亚洲业务发展副总裁马科斯.萨瓦亚.扬卡(Marcos Sawaya Jank)表示：这就是我们有意思的原因。
We’re trying to go in the opposite direction, says Marcos Sawaya Jank, BRF Global’s vice-president of business development for Asia.
我们正努力朝着相反的方向前进。
