MercoPress. South Atlantic News Agency

Future Chinese PM promises full financial and economic support for Spain

Li Keqiang, currently Beijing’s Deputy prime minister

China has confidence in the Spanish financial market and will continue buying bonds issued by Spain’s government, Beijing’s Deputy prime minister said in an op-ed published in Madrid daily El Pais.

Li Keqiang also expressed Beijing’s support for the measures adopted by Spain “to make economic and financial adjustments, with the firm conviction that it will achieve an overall economic recovery”.

“With China being a responsible long-term investor in the European financial market and particularly in Spain, we have confidence in the Spanish financial market, which means purchasing Spanish government bonds, something we will continue to do in the future,” Li wrote.

At the same time, he expressed China’s willingness “to explore together with its Spanish counterpart ways of cooperating that will be positive and effective.”

Li who is expected to become China’s premier in the next two years, begun on Tuesday in Spain a European tour that will also take him to Britain and Germany.

China and Spain “are united by ties between their peoples and their complementary economies,” Li said, adding that Spain “enjoys a high level of socioeconomic development and is a world leader in information technology, tourism, financial services, renewable energy and modern agriculture.”

These experiences and practices “will be a useful reference for China’s own development,” the deputy prime minister said in the article.

“China, with its numerous population and immense market, will also offer Spain colossal business opportunities,” Li pointed out, predicting that bilateral cooperation “will have both greater scope and depth in the future”.