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Chinese investment in Mexico continues to grow as more companies from the world鈥檚 most populous nation seek to take advantage of the country鈥檚 proximity to the United States and its free trade agreement with its northern neighbor.

The investment from the world鈥檚 second largest economy looks set to increase the number of Chinese firms relocate to take advantage of tariff-free trade with the U.S. and Mexico鈥檚 proximity to their main export market. Investment from China (including Hong Kong) reached a record high of almost $500 million last year, according to the Economy Ministry, up from just under $300 million in 2020 and just over $200 million in 2019.

Nuevo Le贸n is one state particularly intent on attracting Chinese investment. State Economy Minister Iv谩n Rivas told Bloomberg that Nuevo Le贸n is building two 鈥渟uperhighways鈥� to Mexico鈥檚 border with the United States. The state also offers tax incentives to companies that meet certain requirements.

Rivas said that Mexico鈥檚 proximity to the United States 鈥済ives us a great competitive advantage,鈥� while G贸mez, the Guanajuato economic development minister, said that logistics and the trade pact with the United States and Canada makes Mexico an attractive destination for Chinese investment. Among the benefits of the investment for Mexico is job growth, with Chinese companies hiring locals to fill most positions.