2017年CRI China investment in Spain pointing up

 

The Chinese freight train from Yiwu arrives in Madrid. [Photo: Xinhua]

Chinese companies have shown a growing interest in Europe, with investment in Spain last year reaching nearly two billion U.S. dollars.

Though Spain's economy is still being rebuilt following the financial crisis, some figures are pointing to positive growth.

The country's economy expanded by 3.2 percent last year, one of the highest numbers registered in the euro zone.

Part of the reason behind that is a four-fold increase in Chinese investment -- a trend that was acknowledged at a KPMG event in Madrid.

"The role of China is very positive here in Spain. When we see the manner in which Chinese investments are increasing internationally, we need to see similar rises in Spain and we have to speak with the Chinese government about what we can do to make Spain more attractive to potential investors," said Maria Luisa Poncela, Spain's Secretary of Trade.

Chinese investment in Spain started later than in other parts of Europe, but it has been growing on the fast track, according to Ivana Casaburi, the author of an annual economic report released by Spanish business school ESADE.

"The company relationship started a little bit later than other European countries. Really Spain, the position of Spain nowadays is only the third country more attractive for a Chinese company in the Southern European countries. But the investment is growing more and more," she said.

Adding to the investment picture is the presence of Chinese companies establishing operations in Spain.

Technology companies, including Huawei, are among those to have a centre in Spain, along with logistic companies such as COSCO.

"We are in regular contact with our headquarters in Shanghai trying to explain to them, trying to bring their interest in order to expand their investments in Spain and this is the process we are doing right now," said Albert Onate, Spain Director General of COSCO Shipping¹.

Although China's investment in Spain began slowly, many in the European country see an upward trend continuing into the future.

"I would say that investment opportunities. People will be pointing their guns at Spain, pointing their investment arms at Spain, therefore the inertia² will bring in more investment just by the fact that this is where the growth is at the moment," said David Hohn, a partner of KPMG Spain.

To boost this business upturn³, a direct freight train linking China and Spain was launched in 2014.

As the longest railway route in the world, it runs between Yiwu city in eastern China and the Spanish capital Madrid in 21 days.

1 shipping   

n.船运（发货，运输，乘船）

参考例句：

• We struck a bargain with an American shipping firm.我们和一家美国船运公司谈成了一笔生意。
• There's a shipping charge of ￡5 added to the price.价格之外另加五英镑运输费。

2 inertia   

adj.惰性，惯性，懒惰，迟钝

参考例句：

• We had a feeling of inertia in the afternoon.下午我们感觉很懒。
• Inertia carried the plane onto the ground.飞机靠惯性着陆。

3 upturn   

n.情况好转

参考例句：

• Experts have forecast an upturn in the stock market.专家已预测股票市场价格有上升趋势。
• The economy is experiencing an upturn.经济正在好转。