The findings of a Brazilian government study indicate that Chinese are on their way to becoming the main direct investors in Brazil, O Globo reports.

The Brazilian newspaper says the study, by the Ministry of Planning, found that since 2003 Chinese investors have announced their intention to make 235 direct investments in Brazil, together worth US$103.6 billion – although they have so far confirmed their intention to make only US$46.8 billion worth.

The report says the fields that Chinese investors mean to invest in include energy, manufacturing and food production.

“China may have surpassed the Europeans and Americans,” O Globo quotes Brazilian Secretary of International Affairs Jorge Arbache as saying.