Chinese President Xi Jinping on Thursday inaugurated Latin America's first Beijing-funded port in Chancay, Peru -- a symbol of the Asian superpower's growing influence on the continent as it prepares to face off with a new Donald Trump administration.

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

Peru's newly-opened Chancay Port is expected to play a vital role in promoting trade between South America and Asia, according to Peruvian and Chinese experts. An opening ceremony was held for the port on Thursday,