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January 6, 2011

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Home » Business » Economy

New Year celebrations to have a Spanish flavor

China and Spain yesterday signed 16 business deals valued at US$7.5 billion, involving banking, energy, transport, food, wine and telecommunications.

The deals were signed after Prime Minister Jose Luis Rodriguez Zapatero met China's Vice Premier Li Keqiang in Madrid.

Calling on Chinese and Spanish enterprises to deepen cooperation in traditional areas, Li said he hoped to see more competitive Spanish products being brought to the Chinese market. He also said China would continue to encourage its citizens to visit Spain as tourists.

He said many typical Spanish products were very popular with the Chinese people, adding that China, with its traditional Spring Festival coming up, will import tens of millions of dollars' worth of olive oil, wine and ham from Spain.

The deals signed yesterday included China's purchase of US$13.5 million worth of meat products, US$9 million of olive oil, US$6 million of wine and US$260,000 of ham from Spain.

Li's visit is important for Spain, which is emerging from nearly two years of recession with a eurozone high unemployment rate of 20 percent and a massive deficit.

Li said China had faith in Spain's economy and would continue to buy the country's public debt.

"China is a responsible, long-term investor in the European financial market and particularly in Spain, and we have confidence in the Spanish financial market, which has meant the acquisition of its public debt, something which we will continue to do in the future," said.

Li told a breakfast meeting of Chinese and Spanish businessmen and women that China sincerely hoped Spain and the whole of Europe will achieve steady growth and sustained prosperity.

China backs Spain's efforts to ensure financial stability, and is willing to work with Madrid to explore effective ways of cooperation, Li said.

Li said his visit to Spain aimed to promote friendly ties and build confidence to continue combating the international financial crisis.

He lauded the mutual understanding and support between China and Spain since the two nations forged diplomatic relations 38 years ago, as well as their comprehensive strategic partnership.

Li also spoke highly of the China-Spain cooperation in such areas as finance, telecommunications, tourism, education and culture.

Good China-Spain relations would help promote China's cooperation with other Spanish-speaking nations, Li said, adding that the two had become good partners and good friends.

Also yesterday, Li met with King Juan Carlos of Spain.

The vice premier began his three-day visit to Madrid on Tuesday. Later he is due to visit Britain and Germany.





 

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