As we mentioned, Xi Jinping is going to South Africa for the BRICS summit. Trade and investment ties between the five countries are getting closer. In February, China completed its acquisition of one of Brazil's most profitable container terminals. It's the biggest port investment ever made in Brazil or Latin America. CGTN's Lucrecia Franco reports.

This is the TCP port in Paranagua, the second largest container terminal in Brazil. Located in the southeast state of Parana, it serves a region that generates almost half of the country's GDP. In February this year, the state-owned China Merchants Group acquired 90 percent interest in TCP's 30-year concession for 925 million dollars. It is the biggest deal ever for a port in Latin America. The company says this massive injection of capital will increase the company's productivity.

ALEXANDRE RUBIO CFO OF TCP TERMINAL "So today our capacity is 1.5 million containers per year so after this investment that we are pursuing now, we are going to 2.5 million containers per year. This positions TCP as one of the largest terminals in Brazil and Latin America."

According to TCP's Alexandre Rubio, there are good reasons for Chinese interest in the port.

ALEXANDRE RUBIO CFO OF TCP TERMINAL "So 25% of all trade in containers is going or coming from China so having now this big brother -China Merchants Port- owning TCP we think we can go faster in the future."

This includes enlarging the dock, buying two new cranes among other improvements this year alone, giving the port the capacity to receive some of the world's biggest ships.

LUCRECIA FRANCO PARANAGUA "Having controlling interest in this mega terminal is part of a new wave of investments in Brazil by Chinese companies. It is a move into logistics, a key sector for boosting trade between the two countries."

There has been a Chinese presence in Paranagua since 2013, starting with the China Communications Construction Company which was awarded dredging contracts for the port's channels and basins. All indications are that with increased port traffic and vessel size the dredging volume will only increase.

LI YIJUN VICE PROJECT MANAGER, CCCC DREDGING "There is a lot of businesses between China and Brazil. I think our work can improve the efficiency of the transport issue and the business between the two countries."

China, already Brazil's biggest trading partner, has expressed interest in even greater trade with South America's largest economy. The TCP investment, part of the "Belt and Road" initiative, is the most tangible indication to date of just how strong that interest is. Lucrecia Franco, CGTN, Paranagua, Brazil.