China and the CELAC countries have been working together for three years. A joint plan in 2015 set a ten-year trade volume target of both sides at 500 billion US dollars. And the number reached about 260 billion US dollars last year. China has another 30 billion US dollar special fund for China-Latin America production capacity cooperation. China also has billions of US dollars worth of currency swaps with some CELAC countries. The China-CELAC forum will offer opportunities for furthering China's Belt and Road Initiative into CELAC countries. China and Chile plan to jointly build a trans-pacific submarine optical cable. China also helped Argentina update its cargo trains, and is expected to build an extra-high voltage power transmission project in Brazil.