A bilateral free trade agreement between China and Peru took effect in 2010. China is now Peru's second-largest trading partner, its largest export market, and its second-largest source of imports.

Mining has become an important pillar of trade between the two countries. The sector was worth 15 point 5 billion U.S. dollars in 2015.

Peru is considered the leading location for Chinese mineral investment in Latin America, and Chinese firms hold around 30 percent of the country's total mining investment portfolio. Chinese firms also have an important presence in Peru's hydrocarbons and commercial fishing sectors.

In 2014, China also became Peru's main supplier of capital goods and leading investor. By May this year, China's investment in Peru hit 22 point 7 billion U.S. dollars.