The port has the potential to “transform trade” by turning Peru into a shipping hub thanks to Chinese investment.

The port opening in Chancay underscores China’s growing clout in a region that once looked primarily to the United States for economic opportunity.

Chinese President Xi Jinping said on Thursday during talks with Peru's Dina Boluarte in Lima that China is willing to take the Chancay port, built and controlled by Chinese state-owned Cosco Shipping,

Peru is inaugurating a huge commercial port built by China, which is expected to become a game changer in the region. Also, a new study finds that private aviation is booming, with flights often clustered around big international events — including climate summits.

Chinese President Xi Jinping is set to inaugurate a mega port on the Peruvian coast, a project expected to speed up trade between South America and Asia-Pacific.