Roadmap to boost China-Spain economic ties

BARCELONA -- The IESE Business School in Barcelona along with Barcelona Fang, a consultancy aimed at improving business links between China and Spain, and the Horizon Research Consultancy Group presented on Thursday a roadmap to address investment relations between China and Spain.

The event was attended by IESE Professor and president of the China Europe Business School Pedro Nueno, senior vice president of the company Horizon Research & Consultancy Group, Xi Feng, and dean of the University of Zhejiang, Wu Xiaobo.

The study lists Spain's most important sectors in terms of investment for China: the automotive sector, agrifood, tourism, luxury goods and real estate sectors.

Xi Feng explained the opportunities in the different sectors, emphasizing the importance of tourism as a way to confront one of the challenges for better economic relations between the two countries: mutual cultural ignorance.

"We found potentials" between the two countries but also "lack of understanding," he said.

Professor Nueno stressed the importance of giving visas faster so that Chinese visitors can travel to Spain more easily while promoting mutual cultural understanding that could later end up in business contracts.

Xi Feng said the automotive sector offered great opportunities to China due to the competitive prices of the sector in Spain.

He also emphasized the high quality of Spanish food and luxury goods, both with competitive prices that would interest the growing Chinese middle-class.

The real estate industry, badly affected by the crisis, also offers an interesting opportunity for investment according to the report, because prices are falling after the housing bubble burst in 2008.

Nueno explained that China is determined to internationalize its businesses, so it is a good opportunity for Spain to sell its products in the country and at the same time, receive Chinese investment within its borders.