Laura Duckett
CHINA quadrupled its investments in Spain to €1.7 billion last year.
Spain now attracts the seventh largest amount of investment from the Asian powerhouse, after countries including Britain and Germany, according to a report by Baker McKenzie law firm.
Investment in infrastructure and entertainment dominated in 2016, including the acquisition of waste management firm Urbaser for more than €1.17 billion.
Another key investment was the €200 million purchase of football club RCD Espanyol by businessman Chen Yansheng.
Maite Diez, a partner at Baker McKenzie, said of Chinese investors: “They are attracted by European companies in several sectors such as the food industry, because that gives them access to the supply chains.
“The goal is to offer high-quality products in China, where there is a growing demand.”
The numbers are not impressive and do not prove that China is going to invest more into Spanish quality companies.
1.17 billion of the 1.7 billion investments last year was only ONE deal with Urbaser. Another 200 Million were spent ito Espagnol which is not a worthwhile investment but a hobby.