China has expanded its trade and investment ties with Latin America in recent years. And now China is Mexico's second-largest trading partner, while Mexico is China's second-largest trading partner in Latin America.

Two-way trade jumped from about $5 billion in 2003 to more than $36 in 2012. The two sides are expected to sign a series of economic and trade agreements during President Xi Jinping's state visit.

In a written interview with Mexican media before his three-nation Latin American tour, the President said China was ready to start negotiations on a bilateral free trade deal with Mexico.

In a trip to China in early April, Mexican President Enrique Pena Nieto met Xi Jingping in China's southern city of Sanya. Pena Nieto announced the establishment of a government agency to handle trade issues with China.