Spain aims to receive Chinese investments of nearly 4,500 million Euros

Spain aims to receive Chinese investments of nearly 4,500 million Euros

Source: Economista
27/11/2018

The visit of the President of the People’s Republic of China Xi Jinping to Spain, which begins this Tuesday, has a significant economic and geopolitical interest. If on the one hand, the Spanish authorities trust in tripling the current investments of the Asian giant towards Spain, on the other hand, China has numerous interests in Africa and in Latin America where Spain plays an important geopolitical and economic role.

In the first half of this year the investment of China in Spain has risen to 1,032 million Euros, according to data from Baker McKenzie, so it could be calculated that this investment could reach around 1,500-1,800 million before the end of the year. Thus, if the forecasts materialize, Chinese capital destined for the Spanish economy could reach 4,500 million Euros in the short or medium term. Many of the investments whose final destination has been Spain have entered through Portugal, so Spain expects it to enter without intermediaries.

The diverse interests that China has in Latin America make Spanish companies play their relevant geopolitical and economic role and aspire to share business with Chinese companies in important operations in both continents.

Many EU countries have directed their expectations towards China. Sweden, for example, is the first destination of the investments of the Asian country, with more than 5,000 million Euros per year, ahead of the U.S.A.. The United Kingdom is the third destination, followed by Germany, Portugal, France and then Spain, which outrun other European countries such as Italy or the Netherlands.