China has offered Latin American and Caribbean countries a CNY66bn ($9.2bn) credit line as part of a comprehensive economic and political cooperation package, marking a significant escalation in Beijing's efforts to strengthen alliances amid ongoing trade tensions with the United States.

The leaders of the three largest economies in the region travel to Beijing to participate in a summit with the Asian giant. During the week in which China boasts of having achieved that Donald Trump backed down in his trade war after reaching an agreement to suspend most tariffs,

There are no winners in a trade war, Chinese President Xi Jinping told Latin American leaders and other officials in Beijing on Tuesday, as he sought to project unity with the region a day after the United States and China agreed to slash reciprocal tariffs.