The founders of eight internet companies in Brazil and a venture capital firm have taken their fundraising roadshow to Beijing, the China Daily reports.

The Chinese government-run newspaper says the China-Brazil Internet Promotion Agency and Baijingapp.com, which helps Chinese companies enter markets abroad, arranged for the roadshow to call in Beijing.

The report quotes China-Brazil Internet Promotion Agency President Yan Di as saying China is three to four years ahead of Brazil in developing internet business.

Mr Yan argued that now is a good time for Chinese to invest in internet business in Brazil because the Brazilian currency has weakened and the Brazilian economy has begun an upswing, the China Daily says.