Miguel Sebastion, Director of the Economic Office of Spanish Prime Minister said at China-Spain Entrepreneurs Commercial luncheon Party on July 22 that the Spanish government planned to invest 690 million Euros in China in the coming 3 years, which would exceed total investment in China.
It is learnt that the entrepreneurs delegation accompanying with Spain's Prime Minister Zapatero to visit in China was composed by high officials of Top 25 enterprises in Spain, engaging in financing, information communication, insurance, construction engineering, biotechnology, environment, energy sources, electric power, textile products and food etc.
Mr. Miguel Sebastion said that the Spanish government hoped to further enhance the intercourse of trade and commerce with China and to promote Spanish enterprises to invest in China through the visit.
Mr. Miguel Sebastion said when receiving the interview that Spain's trade deficit to China was maintained, aim of increasing investment in China was to chang the status of trade unbalance.
In the Past, investment destinations of Spanish business community focused in EU, Latin America and North Africa. Now, market share of Spanish enterprises in China was just only 0.4% and exports to China in 2004 amounted to 1.12 Euros, ranking No. 30, which was not balanced with the place of Spain as the 8th economic entity worldwide.
In May 2005, the Spanish Government published China Plan, targeting to reinforce the economic relations with China. The Plan listed China as an overseas market to develop with preferential consideration, and arranged to invest 690 million Euros within 3 years so as to promote the investment, trade and tourism in China.
