ZHENGZHOU - Chinese beverage company Mixue Bingcheng plans to open its first Brazilian store this year and boost its imports of agricultural products from Brazil, the company said Monday.

According to a memorandum of understanding signed by Mixue and the Brazilian Trade and Investment Promotion Agency, the company will expand imports of Brazilian coffee beans, fruit products, and other key agricultural products.

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Tian Zezhong, Mixue's Brazilian market head, said the company plans to purchase no less than 4 billion yuan (about $550 million) worth of agricultural products in Brazil over the next three to five years.

Besides opening the first store, Mixue also plans to establish a supply chain factory in Brazil, Tian said, adding that the company expects to provide 25,000 local jobs and bring high-quality and affordable products to Brazilian consumers.

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Since its founding in 1997, Mixue had grown to operate 46,479 stores worldwide by the end of 2024. Its push into Brazil, driven by its growing demand for high-quality coffee beans, is an example of the growing and diversifying trade partnership between China and Brazil.

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China has long been Brazil's largest trading partner and export destination, while Brazil has consistently ranked as China's top trading partner in Latin America, with bilateral trade volume exceeding $180 billion in 2024.

"Mixue represents the growing trend of Chinese tea beverages going global. With worldwide sourcing and distribution, these brands offer premium yet affordable drinks to consumers globally," said Chen Zhenjie, vice-president of the China National Food Industry Association.