China caps interest in Sweden with US$1.25b loans to firms
Source: Agencies |
May 31, 2012, Thursday
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Print Edition
Print Edition
CHINA has signed a deal with Sweden for loans to small and medium-sized firms, which media reports said could be worth 1 billion euros (US$1.25 billion), a sign of further Chinese interest in the Nordic state after buying car maker Volvo.
Sweden's Industry Ministry said in a statement an investment agreement was signed during a visit by Industry Minister Annie Loof to Beijing.
It named no figures but Swedish television said on its website that Chinese Premier Wen Jiabao had stunned his hosts, during an April visit, by saying China wanted to invest about 1 billion euros in Sweden, and this would be part of the new agreement.
No one at the ministry was available to comment on the sum mentioned in the reports.
In a statement, the ministry said the agreement aimed at deepening cooperation between small and medium-sized Swedish and Chinese companies.
"I am very pleased with our agreement which strengthens the possibilities for Swedish companies operating in China and Chinese companies in Sweden," Loof said in the statement.
She told Swedish television in Beijing after her talks that the deal meant companies would be able to apply for innovation loans from the China Development Bank.
Chinese business has shown more interest in the Nordic region, including the purchase in 2010 by Zhejiang Geely Holding Group, parent of Hong Kong-listed Geely Automobile Holdings Ltd, of Volvo from Ford Motor Co.
A Chinese tycoon is about to lease land in Iceland for a holiday resort.
Sweden's Industry Ministry said in a statement an investment agreement was signed during a visit by Industry Minister Annie Loof to Beijing.
It named no figures but Swedish television said on its website that Chinese Premier Wen Jiabao had stunned his hosts, during an April visit, by saying China wanted to invest about 1 billion euros in Sweden, and this would be part of the new agreement.
No one at the ministry was available to comment on the sum mentioned in the reports.
In a statement, the ministry said the agreement aimed at deepening cooperation between small and medium-sized Swedish and Chinese companies.
"I am very pleased with our agreement which strengthens the possibilities for Swedish companies operating in China and Chinese companies in Sweden," Loof said in the statement.
She told Swedish television in Beijing after her talks that the deal meant companies would be able to apply for innovation loans from the China Development Bank.
Chinese business has shown more interest in the Nordic region, including the purchase in 2010 by Zhejiang Geely Holding Group, parent of Hong Kong-listed Geely Automobile Holdings Ltd, of Volvo from Ford Motor Co.
A Chinese tycoon is about to lease land in Iceland for a holiday resort.
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