On September 8, the Forum for Investment and Development of Chinese Companies in Spain was successfully held in Madrid, Spain. The forum was jointly organized by ICBC and the Spanish Ministry of Economy, Industry and Competitiveness and the Spanish Institute for Foreign Trade. It was aimed to build a high-level exchange and cooperation platform between Chinese and Spanish companies, help Chinese companies better melt into the Spanish society, and promote Chinese and Spanish economic and trade exchange and economic development in Spain. Representatives of multiple Fortune 500 Chinese companies and leading Spanish companies from energy, construction, telecommunications, automotive, environmental protection, finance, insurance and other industries attended the forum.

According to Gu Shu, President of ICBC, Spain and China are highly complementary to each other in industry. Spain has an open business environment and is regarded by many Chinese companies as the European gateway to Latin America. ICBC has actively participated in economic and social development of Spain, promoted bilateral economic and trade investment, and won the Outstanding Investment Award issued by the Ministry of Economy, Industry and Competitiveness of Spain. In the future, ICBC will continue to enhance its presence in Spain and establish a wide range of business contact and cooperative relation with governments, companies and social organizations, and provide comprehensive quality financial services for economic and trade exchange between Chinese and Spanish companies.

Spanish Secretary of State for Commerce Marisa Poncela said that China is the primary partner of Spain, and some Chinese companies are world leaders in their sectors with high rankings among global companies. In 2016 Spain exported to China for a worth of EUR 5 billion, hitting a record high. Currently 180 Spanish companies have investments in China with a total amount of over EUR 6 billion, making China Spain’s largest partner in the Asian market.

Chinese Ambassador Lv Fan said that the bilateral economic and trade cooperation between China and Spain continued to develop, and the tendency for Chinese companies to look abroad for international cooperation was irresistible. But the cooperation in Latin America had a short history and limited experience, which brought opportunities for Spanish companies to cooperate with Chinese companies. He hoped that the two countries, through exchange platforms like this forum, could explore cooperation and look for more development opportunities.
 

In the forum, the Spanish Institute for Foreign Trade introduced the economic and investment environment of Spain. Many Chinese and Spanish company representatives shared their experience in investing in Spain and exchange views of the investment environment features, experience in investment and development in Spain.

China and Spain have made great progress in economic and trade cooperation in recent years, which promoted the investment of Chinese companies in Spain. Spain has become an investment destination favored by Chinese investors. In 2016, China invested EUR 1,708 million in Spain, 3.8 times as much as in 2015. Since its establishment in 2011, the Spanish institution of ICBC has been dedicated to becoming a bridge and link between China and Spain in economic and trade relations. Following the investment trend of Chinese companies in Spain, the institution provides integrated financial services of “consulting + financing” for investments in Spain. On the other hand, based in Spain, it provides syndicated loans, bilateral loans and bond underwriting and other diversified financial services to many local high-quality companies. It also works with Spanish companies investing in China on deposits, settlement, financing and other aspects to support Spain’s economic and social development.