King of Spain Begins Visit to China to Strengthen Economic Ties

China is Spain's fourth-largest trading partner globally, and despite being the world's second-largest economy, it ranks as the 14th investor in Spain, which, in the view of Minister of Economy Carlos Cuerpo, reflects 'much potential to be developed.' He did so in the city of Chengdu, where he inaugurated the Spain-China Business Forum, which was attended by more than 400 Chinese and Spanish companies that form the trade links between the two countries. In the current international context, marked by growing complexity that affects both geopolitical stability and the performance of our economies, Spain, along with the EU, maintains its firm commitment to an international system based on clear rules, transparency, and respect for legality. 'We want to continue deepening the presence of our exports in the Chinese market, continue opening this market with enormous potential, and at the same time attract investments to Spain.' One of the Chinese companies with the most significant presence in Spain is CATL, the world leader in lithium-ion battery production, which, together with its partner Stellantis, will begin construction of an industrial plant in Figueruelas, Aragon, in the coming weeks. These ambitions could materialize in Spain being chosen as the destination for BYD's new European factory. More than 400 Spanish companies have a presence in China, and in their defense, King Felipe VI mentioned 'an essential aspect for the development of our economic relations: the need to advance in resolving the difficulties that some of our companies still encounter in their activities,' a request expressed with the utmost diplomatic tact. 'We chose Spain for many factors,' explained Pan Jian, co-chairman of CATL. This morning (local time), King Felipe began his state visit to China, the first by a Spanish monarch in 18 years and also the first of his reign. An event that 'reflects the dynamism of our bilateral relations and the shared will to continue strengthening the ties between our countries,' the King stated, who in his speech defended multilateralism in a context of increasing geopolitical tension. 'If we want to build a strong and lasting economic relationship between Spain and China, we must do so on the basis of mutual trust, openness, and legal security, where trade and investment continue to be engines of stability and progress.' The King will continue his day by visiting the facilities of Indra at the automated control tower of Shuangliu Airport, while Queen Letizia participates in a cultural event commemorating the 150th anniversary of the birth of Antonio Machado. 'There is a lot of talent, with many high-level engineering schools, the government is very effective, the politics are stable, it is a beautiful place, and finally, there is a deep commitment to renewable energy.' In his address, the King highlighted 'opportunities to continue advancing cooperation in strategic sectors,' particularly in renewable energy, the automotive industry, the pharmaceutical sector, and agri-food. After a lunch with regional authorities, the monarchs will head to Beijing, where they will be hosted tonight by Chinese leader Xi Jinping and his wife Peng Liyuan at a private dinner. 'Only through these principles is it possible to generate trust and progress'.