Pre-candidate claims that sale of state-owned companies can transfer strategic assets to Chinese companies
The presidential pre-candidate (DC) called the former governor of Minas Gerais (Novo) of “uninformed” e “disqualified” when criticizing the privatization proposals of Brazilian state-owned companies, such as oea. In a video published this Friday (May 8, 2026) on his Instagram profile, Rebelo stated that the sale of these companies could transfer strategic national assets to foreign groups, especially Chinese state-owned companies.
“Who are you going to sell Banco do Brasil to? Because, if you put it up for sale, you won’t choose the buyer”he said. According to the former minister, Chinese companies now have greater financial and investment capacity to compete for assets on the international market. “We would not privatize Petrobras. We would transform a Brazilian state asset into a Chinese state asset”, he stated.
Rebelo criticized what he classified as a lack of knowledge about international economic dynamics. He said that privatization proposals ignore the advance of Chinese capital in strategic sectors of the Brazilian economy and stated that the country “you can’t commit this stupidity”.
The pre-candidate Romeu Zema has frequently defended the privatization of state-owned companies as a way of reducing Brazilian public debt. In an interview with Free Channelon May 3, and with businesspeople in the Avenida Faria Lima region, in São Paulo, on April 29, the Novo politician stated that he intends to sell public companies and use the resources to reduce the country’s debt and reduce interest rates.
Zema also defended administrative and pension reforms and stated that the country could save around R$10 trillion in 20 years. According to him, similar measures were adopted during his administration in Minas Gerais.
The former governor privatized (Companhia Energética de Minas Gerais), but the proposal did not move forward. He also stated that the privatization of the (Minas Gerais Sanitation Company) is “matter of time” and argued that privatizations increase investments and improve services.
