Wang, on a tour of African nations, Brazil and Jamaica, is in Brasilia for two days of meetings at the foreign ministry and a joint statement is expected on Friday at midday.
China is Brazil's largest export market, mainly for soy and iron ore. Chinese companies are planning to increase their investments in Brazil, in power transmission, oil and electric vehicles, businessmen said at a Brazil-China meeting last week in Shenzhen with major Chinese corporations.
Lula is currently traveling in northeast Brazil, his main political bastion, eyeing municipal elections this year.
The Brazilian president is expected to reiterate Brazil's position on Taiwan being part of China.
A Foreign Ministry statement in April expressed Brazil's "firm support to the One China Principle" and said China was "the sole legitimate government of the whole of China, and Taiwan being an inseparable part of the Chinese territory."
(Reporting by Anthony Boadle; Editing by Steven Grattan)
