Spanish Prime Minister Pedro Sánchez has attended the China-Spain Business Forum in Shanghai. He highlighted the deepening economic and trade relations and outlined future prospects. CGTN's Lin Nan has more. 

The China-Spain Business Forum was held in Shanghai on Tuesday, attracting hundreds of entrepreneurs from both China and Spain. Spanish Prime Minister Pedro Sánchez, who is currently visiting China, delivered the keynote speech. 

PEDRO SANCHEZ Spanish Prime Minister "The economic development of China and Spain is strong, sustained, and highly complementary, with both parties capable of better integrating their value chains. Spain has chosen to establish relations with China on an open basis. We hope to increase trade and investment with China and also wish for the EU and China to go beyond geopolitical and geo-economic realities."

The forum addressed two major topics: future industry opportunities and green transformation, as well as cooperation in industrial and supply chains and partnerships in third-party markets.  

ZHANG SHAOGANG Vice Chairman, China Council for the Promotion of International Trade "Promoting enhanced cooperation among enterprises in our two countries on industrial and supply chains is crucial. Last year, the China Council for the Promotion of International Trade successfully hosted the inaugural China International Supply Chain Expo. I sincerely invite Prime Minister Sánchez and all Spanish entrepreneurs to this year's Expo." 

China and Spain have seen steady progress in their trade and investment relations. Trade volume between China and Spain surged to $48.6 billion in 2023. Currently, Spanish products such as ham, red wine, and beauty items are highly favored by Chinese consumers. 

MAO YANWEI President, Alto Rey Import and Export "Chinese consumers are becoming increasingly familiar with Spanish goods. Goods transported via the Belt and Road Initiative – the train from Madrid to Yiwu – are now reaching Chinese consumers faster and fresher than ever before."

The entrepreneurs also expressed their preference for a fair trading environment, rather than trade wars and protectionism. 

DANIEL DE MIGUEL Deputy Director and International Director, INTERPORC "The relation between Spain and China is very positive. We think that with this event, it is going to improve a lot. We think they are going to avoid any commercial war – which can be dangerous for both sides."

Both China and Spain have agreed to provide more support for foreign investments. 

OSCAR OLGUIN Foreign Counsel, Dentons "There are a lot of investments from Spain to China, and little by little we see a lot of Chinese companies going overseas. And investing in Spain will be a very good strategy if they want to get into Europe."

Currently Spain is China's fifth largest trading partner in the EU, and China is Spain's largest trading partner outside the EU. 

Lin Nan, CGTN, Shanghai.