Rajoy heads to Beijing as Spain and China begin €3 billion business deals

LAST UPDATED: 25 Sep, 2014 @ 10:38
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Rajoy heads to Beijing as Spain and China begin €3 billion business deals

THE Spanish government is stepping up its efforts to attract Chinese investors, as Prime Minister Mariano Rajoy begins his state visit to China today.

China and Spain are set to sign a reported 14 business deals worth a total of about €3 billion in Beijing this week, as Rajoy drums up support for his country’s economy.

Since China’s richest man Wang Jianlin bought the landmark Santander office tower in Madrid, the Spanish government has made several moves to encourage more Chinese investment.

It scrapped a law that allowed Spain’s national court to indict Chinese political leaders on charges of human rights violation in Tibet.

Private Chinese investors can now benefit from a new scheme which allows property owners to apply for residency.

This year Chinese citizens received 282 of the 1,880 ‘golden visas’ granted by Madrid – a visa given to any foreigner who buys property worth at least €160,000.

Rajoy will meet Chinese officials and businessmen to discuss investment opportunities between the two countries.

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