Spain committed to strengthening cooperation with China: chamber of commerce

China

Spain committed to strengthening cooperation with China: chamber of commerce

2024-09-09 16:01 Last Updated At：20:57

The manager of the Spanish Chamber of Commerce in China is optimistic that Prime Minister Pedro Sanchez's current visit will further strengthen cooperation between the two countries and boost trade.

In an interview with China Global Television Network (CGTN) on Sunday, Juan Manuel Reina Moreno, vice president of the Spanish Chamber of Commerce in China, said Sanchez's visit to China shows the country's commitment to cooperation with China. Moreno also serves as the general manager of CEPSA Chemical in Shanghai, a leading Spanish petrochemical company.

Prime Minister Sanchez arrived in Beijing on Sunday for an official visit that will last through Wednesday, during which Chinese President Xi Jinping will meet him, and separate talks with senior Chinese officials are expected.

The two sides will exchange views on bilateral relations and issues of mutual interest, and co-host a series of events.

Highlighting that China has become Spain's large trading partner outside the European Union, Moreno said Spanish exports to China have increased significantly in recent years, especially in sectors including food, energy and technology, with more Spanish companies entering the Chinese market.

Sanchez's visit is expected to further expand ties between Spain and China in emerging industries, Moreno noted.

"The visit of Prime Minister Sanchez to China underscores Spain's commitment to stronger cooperation in key areas such as renewable energy, infrastructure and digitalization following a win-win approach. Spain is also focused on attracting investment in clean technologies, especially hydrogen development, where it has significant advantages and a strategic position. Energy has become a vital link between the two economies, especially Spain as the leading European partner for China in this sector," Moreno said.

Spain mainly exports pig meat, copper ore and packaged medicaments to China, while importing electric vehicles, batteries and semiconductors from China.

Moreno stressed that there is room for more cooperation in areas where Spain's exports can satisfy China's needs.

"I see great potential in several sectors. First, renewable energy is a very big opportunity as both countries focus on green technologies. Second, digitalization and smart infrastructure offer potential, while Chinese expertise could complement Spain's current development in AI. The food and agriculture sector also has strong prospects due to the Chinese demand for sustainability, especially high quality products. Lastly, R and D and innovation, particularly in biotechnology and chemicals, present opportunities for joint ventures and breakthroughs," he said.

Beijing consumer gold market remains hot despite rising prices

2024-09-17 04:15 Last Updated At：07:27

Beijing's consumer gold market has been running hot during the Mid-Autumn Festival holiday, despite recent rises in the gold price on international markets.

Last week, the main contract for gold futures on the New York Mercantile Exchange (COMEX) has risen to over 2,600 U.S. dollars per ounce.

At a gold shop in Beijing's Xicheng District, the price of pure gold jewelry went up to about 737 yuan (about 104 U.S. dollars) per gram, but many shoppers are still looking to buy gold jewelry especially during the Mid-Autumn Festival holiday and the end-of-summer wedding season.

"It is now more than 700 yuan (about 98.7 U.S. dollars) per gram, but when we were here about two months ago, it was only just above 600 yuan (about 84.6 U.S. dollars) per gram," said a customer.

"I'm getting married, so I came to have a look. Even if the price goes up, we still have to buy it," said another customer.

"I had nothing to do during the holidays, so I came here to take a look [at the gold jewelry]. I just bought a lucky charm bead and now I want to take a look at the bracelet," said another customer.

At the shop's gold investment counter, many consumers have been making inquiries about gold bars, which has long been considered a safe investment, although experts recommend caution in the rising gold market.

At the shop's gold investment counter, many consumers have been inquiring about gold bars, which have long been considered a safe investment. However, experts recommend caution in the rising gold market.

"Many investors will buy gold bars for medium- to long-term investment based on their expected price as part of their overall family asset allocation. We suggest that investors be more rational in their decisions," said Li Yang, a senior gold investment analyst.