近一年来， 中国公司在巴西的直接投资迅速飙升，截至目前的投资金额已达到了预计的120亿美元，成为巴西最大的投资国。2001至2009年间，中国对巴西累计投资总额仅为2.13亿美元， 09年投资额也只达到8200万美元，今年如此大量的资金流入表明中国投资重心正从欧美转向拉美市场。

投资商对法律服务的需求也将因投资重点的变化而转变。随着中国投资巴西力度的加大，尤其是在能源资产方面，两国律所间也很可能会建立起更多更紧密的合作关系。

前不久，中国最大电力公司国家电网以17亿美元吞并了巴西7家输电公司，法律咨询由美国美邦，西班牙Uria Menendez和巴西Pinheiro Neto Advogados律所共同提供。

China's direct investment in Brazil has soared to a projected US$12bn this year, making it the highest investor in the country for 2010.  The flood of investments marks a major shift in focus for China, which pumped only US$82m into Brazil in 2009 and only US$213m between 2001 and 2009.

This year, State Grid – China's biggest electrical utility – paid US$1.7bn for seven Brazilian electricity transmission companies (advised by Milbank Tweed, Uría Menéndez and Pinheiro Neto Advogados) and Sinochem paid US$3.1bn for a 40% stake in the Peregrino oil field (advised by Baker Botts, Vinson & Elkins, Demarest and NautaDutilh).

“Brazil is now one of the hottest energy countries in the world and China definitely has its eye on its resources. The broken monopoly in the country makes the region an extremely attractive target for foreign companies,” said Zhang Libin, former Baker Botts partner who advised on the Sinochem transaction. Zhang has since moved to local firm Broad & Bright as partner.

Brazil has said it now aims to diversify the range of products it exports to China. Currently main exports are soya beans (for tofu), iron ore, cellulose and fuel.

The increasing number and size of Sino-Brazil deals will mean a shift in focus for PRC and Brazilian legal advisors. “There will continue to be more Chinese investments into Brazil, especially in energy assets. This will draw more international firms into Brazil and also drive more PRC firm alliances with Brazilian firms. PRC firms with international law capacity will also start to tap into the region and drive their advice inthat direction,” said Zhang. ALB

Related stories:

• Firms advise on Sinochem-Statoil deal (15 June 2010)
• Hogan Lovells and White & Case engaged for largest China Development Bank loan ever  (8 August 2010)