King Felipe began this morning (local time) a state visit to China, the first by a Spanish king in 18 years and also the first during his reign. He did so in Chengdu, where he opened a business forum … Spain – China, in which more than four hundred Chinese and Spanish companies participated, forming trade relations between the two countries.
The king said that this event “reflects the dynamism of our bilateral relations and the common will to continue strengthening relations between our two countries.” In his speech, he defended pluralism In light of increasing geopolitical tension.
He pointed out, “We find ourselves at a moment of special international importance, characterized by increasing complexity that affects geopolitical stability and the performance of our economies.” In this context, Spain, along with the European Union, maintains its firm commitment to an international order based on clear rules, transparency and respect for legality. Only through these principles can confidence and progress be generated.
Bilateral exchanges Between Spain and China, it amounted to more than 52 thousand million euros last year. With a noticeable deficit of 37 thousand million in favor of the Asian giant, which is the largest in the national accounts. China represents Spain’s fourth trading partner in the world, and despite being the second largest economy in the world, China ranks fourteenth as the largest investor in Spain, which in the eyes of the Minister of Economy, Carlos Budde, reflects “a lot of potential that needs to be developed.” “We want to continue to deepen our export presence in the Chinese market, continue to open this market with huge potential and at the same time attract investments to Spain.”
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One of the Chinese companies with the largest presence in Spain is CATL. World leader in lithium ion plant production Together with its partner Stellantis, it will begin construction of an industrial plant in Figueruelas, Aragon, in the coming weeks. “We chose Spain for several factors,” explained Pan Jian, co-president of CATL. “There is a lot of talent, with many top-ranking engineering schools, the government is very effective, politics is stable, it is a beautiful place, and finally, there is a deep commitment to renewable energy.”
In his speech, His Majesty the King stressed “opportunities to further enhance cooperation in strategic sectors,” especially in the sectors of renewable energy, automobiles, pharmaceuticals, and food agriculture. These ambitions could be reflected in the choice of Spain as the destination for the new factory on European soil for the electric car company BYD.
There are more than 400 Spanish companies present in China, and Felipe VI took the initiative to defend them, pointing out “an essential aspect for the development of our economic relations: the need to move forward in resolving the difficulties that some of our companies continue to face in carrying out their activities,” a request expressed with the utmost diplomatic tact. “If we want Building a strong and lasting economic relationship between Spain and China, “We must do this on the basis of mutual trust, openness and legal certainty, as trade and investment remain engines of stability and progress,” he added.
The King will continue today by visiting Indra’s facilities at the automated control tower at Shuangliu Airport, while Queen Letizia will participate in a commemorative cultural event on the occasion of the 150th anniversary of the birth of Antonio Machado. After having lunch with regional authorities, the kings will head to Beijing, where tonight they will entertain Chinese leader Xi Jinping and his wife, Peng Liyuan, with a private dinner.
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