China invests 6.8 billion euros in Portugal in 2016

18 July 2017

By the end of 2016 Chinese companies invested 6.8 billion euros in Portugal in sectors such as energy, finance, insurance, telecommunications and civil aviation, said the Economic and Commercial attaché of the Chinese embassy in Portugal.

Xu Weili told the Xinhua news agency that Chinese investment in Portugal led to the creation of 36,000 jobs.

According to Xinhua, “for certain companies, investing in Portugal can expand business in other Portuguese-speaking countries,” and it gave the example of China Three Gorges, which takes advantage of the cooperation with its Portuguese partner to explore the hydroelectric, wind and renewable energy markets in Europe and Latin America.

In terms of tourism, around 200,000 Chinese visited Portugal in 2016, a number that is expected to increase substantially from 26 July when direct flights between Lisbon and Beijing are launched.

Bilateral trade between Portugal and China in the first five months of 2017 reached US$2.250 million (+7.26%), with Chinese sales of US$1.488 billion (-4.69%) and Portuguese sales of US$761 million (+42.08%). (macauhub)