Spanish firms seal a bonanza of deals
Source: Xinhua |
April 14, 2011, Thursday
|
Print Edition
Print Edition
VISITING Spanish Prime Minister Jose Luis Rodriguez Zapatero yesterday said Spanish and Chinese companies signed eight deals worth 1 billion euros (US$1.44 billion).
Agreements were reached on cooperation in sectors such as finance, wind energy, helicopter and valve manufacturing, according to a statement from the Spanish embassy in China.
Spain's Santander bank and China's ZTE Corp signed an agreement on financing the export of telecommunications equipment. ZTE is a leading global provider of telecom equipment and network solutions, and operates in more than 140 countries.
Spain's Gamesa signed deals with China Resources Power and China Datang Corporation Renewable Power Co, in which the Spanish firm will provide the two Chinese firms, respectively, 150 wind turbines with an installed capacity of 300 megawatts.
Zapatero, who started a four-day visit to China on Tuesday, said his trip would focus on economic issues and developing relations with the Asian country.
Last year, Chinese exports to Spain increased 35 percent and the number rose 60 percent in January, Zapatero said.
In recent months, ratings agency Moody's lowered Spain's sovereign debt ratings twice, saying the cost of restructuring the Spanish financial system was higher than expected and that funding it would increase the country's deficit.
China currently holds 12 percent of Spain's government debt, up from less than 4 percent, Zapatero said.
Chinese Premier Wen Jiabao on Tuesday said China would continue to buy Spain's government debt.
"China's promise has enhanced Spain's confidence and contributes to its economic stability, recovery and reforms," Zapatero said, expressing his gratitude to the Chinese government.
Besides, Spain and China can cooperate in infrastructure projects, Zapatero said.
Agreements were reached on cooperation in sectors such as finance, wind energy, helicopter and valve manufacturing, according to a statement from the Spanish embassy in China.
Spain's Santander bank and China's ZTE Corp signed an agreement on financing the export of telecommunications equipment. ZTE is a leading global provider of telecom equipment and network solutions, and operates in more than 140 countries.
Spain's Gamesa signed deals with China Resources Power and China Datang Corporation Renewable Power Co, in which the Spanish firm will provide the two Chinese firms, respectively, 150 wind turbines with an installed capacity of 300 megawatts.
Zapatero, who started a four-day visit to China on Tuesday, said his trip would focus on economic issues and developing relations with the Asian country.
Last year, Chinese exports to Spain increased 35 percent and the number rose 60 percent in January, Zapatero said.
In recent months, ratings agency Moody's lowered Spain's sovereign debt ratings twice, saying the cost of restructuring the Spanish financial system was higher than expected and that funding it would increase the country's deficit.
China currently holds 12 percent of Spain's government debt, up from less than 4 percent, Zapatero said.
Chinese Premier Wen Jiabao on Tuesday said China would continue to buy Spain's government debt.
"China's promise has enhanced Spain's confidence and contributes to its economic stability, recovery and reforms," Zapatero said, expressing his gratitude to the Chinese government.
Besides, Spain and China can cooperate in infrastructure projects, Zapatero said.
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