Deals worth nearly $1.1 billion were signed during the 14th China-Latin America and the Caribbean (LAC) Business Summit held in southwest China's Chongqing Municipality.

The two-day summit that concluded Wednesday saw the inking of 18 cooperation agreements, including eight deals between Chinese and Latin American companies covering animal husbandry, minerals, automobiles and medical equipment.

China is the second-largest trading partner of the LAC region, and the annual bilateral trade volume has exceeded $300 billion for three consecutive years. 

More than 2,700 China-funded enterprises operate in LAC, making it the second-largest region for China's outbound investment.

First held in 2007, the summit is China's first economic and trade promotion platform for Latin America. The 15th edition will take place in Ecuador.