Santander indicated that although it is still in its infancy, Chinese companies have begun to look for how to invest in Mexico to be part of nearshoring.

The relocation of companies in Mexico has begun to worry Chinese companies, which is why they have already begun to explore investment opportunities in the country to relocate part of their production and be part of the nearshoring phenomenon.

The global executive director of Transaction Banking Mexico de Santander, Osvaldo D’Imperio, commented that although this is still in its infancy, their offices in the Asian nation have begun to request meetings about what is happening in the Mexican Republic and the opportunities that It represents.

In fact, he commented that the financial institution had a meeting last month with 20 potential Chinese investors who want to settle in Mexico, mainly related to the automotive industry.

“Yes it is incipient, there are beginning to be talks, to be concerned, they begin to ask us, then, everything indicates precisely that it is a trend that is beginning to occur in an incipient way, but that it is already beginning to occur,” he said.

In this sense, the bank manager specified that the companies with which they met are suppliers of the automotive sector, specifically auto parts and lithium batteries, among others.

For his part, Rodolfo Hernandez, Santander’s executive director of International Business, said that although Mexico is stealing part of China’s production, the Asian country is going to start defending itself, since they are seeing the same figures and they will not be left behind. so calm, so they are reacting so as not to lose market.

“It could happen and we are seeing it that Chinese companies are located in Mexico and that for us will be more labor, greater development, more technology, etc., I have no doubt that it will happen and we are already seeing it,” he said.

Hernandez affirmed that the interest of Chinese companies in coming to the country is due to the phenomenon of nearshoring, since losing participation points in exports to the United States may have made them reflect on many things.