Initiated by CCPIT in November 2007, the China-LAC Business Summit is recognized by the Chinese government as “a flagship brand in China-LAC practical cooperation”, and it is also incorporated as the trade and investment sub-section under the umbrella of the China-CELAC Forum now. The summit is held annually in China and LAC countries on a rotating basis and thirteen summits have been successfully convened until now. All previous summits received great support from China and LAC countries’ governments and business communities, attracting more than 16,000 delegates from several thousands of enterprises in China and LAC countries. State leaders including Li Yuanchao, then vice president of China, Liu Qibao and Liu Xincheng, vice chairmen of the CPPCC National Committee, Hua Jianmin and Zhou Tienong, then vice-chairmen of the NPC Standing Committee, Michelle Bachelet, then president of Chile, Álvaro Uribe Vélez, then president of Colombia, Ollanta Humala, then president of Peru, Laura Chinchilla, then president of Costa Rica, Tabaré Vázquez, then president of Uruguay, Laurentino Cortizo, president of Panama attended the previous summits and delivered important speeches.