What we do?

Relations between Peru and China date back to the 19^th century, and the Andean country’s ties with the People’s Republic of China (hereafter, China) have been established for over half a century. Yet it was not until the start of the 21st century that China’s economic and business presence in Peru gained momentum, facilitated by the Asian giant’s entry into the World Trade Organization (WTO), the negotiation of a free trade agreement between the two economies, and Peru’s accession to the Belt and Road Initiative (BRI). Despite the notable Chinese business presence in modern-day Peru, however, there is little empirical information to enable in-depth analysis. How many Chinese firms currently operate in Peru? Who are their owners, and in which sectors and regions are they active? What is the total amount of direct Chinese investment, and where is is concentrated?

With these questions in mind, the Center for China and Asia Pacific Studies (CECHAP) has produced four databases to collect and organize information on Chinese firms in Peru, their investments, and their involvement in public service provision between 1992 and 2022. The purpose of this working paper is to publicize the basic findings, and to encourage other researchers to engage in the analysis and expansion of this endeavor.

Among the key discoveries, the CECHAP team learned that 208 Chinese firms were registered in Peru between 1992 and 2022—186 by way of taxpayer identification number (Registro Único de Contribuyente, RUC) and 22 with a foreign resident’s card (Carnet de Extranjería). Of those firms with a RUC, 152 (81%) were active at the end of 2022 across 16 categories of the International Standard Industrial Classification (ISIC). Their activities are concentrated in four key areas of the Peruvian economy: most prominently in mining, followed by construction, trade, and electricity supply.

Strikingly, 32% of the Chinese enterprises registered in Peru are formally private under the Chinese legal framework. Nonetheless, over 90% of Chinese investment comes from large state-owned enterprises. At the end of 2023, China’s direct investment in Peru totaled an estimated US $27,877 million. According to UNCTAD data and the CECHAP databases, in 2023 Chinese investment accounted for 21% of all foreign direct investment (FDI) in Peru, placing China as one of the country’s foremost foreign investors.

In addition to direct investments, the team identified major Chinese enterprises involved in the construction of public works in Peru. Between 2018 and 2022, 25 Chinese companies were selected for 201 public works tenders worth an estimated US $6,467 million. These projects were distributed throughout most of the country: in 23 of the 24 administrative departments.

The paper concludes with suggestions for a future research agenda, followed by methodological appendices and identification of sources to encourage further development of the data presented and, in turn, better understanding of the considerable Chinese presence in Peru.

This paper was prepared primarily by Darissa Cama of CECHAP, with significant contributions from Rodrigo Herrera for the 2025 version. We thank Dr. Rosario Santa Gadea, former director of CECHAP, for her inspiration and contributions, as well as Enrique Bossio for his excellent editing.