Since 2002 the first three branches of Chinese companies, ZTE Corporation, Huawei and Sinopec were recorded in Ecuador. But after a decade, the number of these subsidiaries is now close to reaching 60 and most of them have million dollar contracts with state-owned companies, in areas such as oil, energy, mines, bridges, flood control and service provision.
A total of 24 contracts signed by 5.270’239.787 dollars were given to Chinese companies, which were located in the country one or two months before the signing of these commitments. Now the Chamber of Commerce Ecuador-China has 42 companies registered with the capital of China. The Superintendency of Companies has marked the registration of 29 Chinese branches, this figure does not include those in other countries, which have been acquired by Chinese multinationals.
However, despite the lucrative contracts that have succeeded, few companies have declared their tax incomes. Those that have not done it are: Sinopec, Hidrochina, Xijiang Goldwing, Harbin, China Road, Wuxi Seamless, China Gezhouba, ZTE Corporation, Guangxi, China National Electric Synohidro, among others.