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Chinese-funded Enterprises Made Headway in Europe

On March 15, People’s Daily published an article that gave a detailed account about the expansion of Chinese enterprises in Europe. It mentioned such companies as Haier (in Italy), Shanxi Yuncheng Saueressig Plate-making Co., Ltd (in Spain), Zhejiang Geely Holding Group (in the UK), Liugong Machinery Co., Ltd. (in the Netherlands), Huawei, and ZTE Corporation.

According to the article, as of the end of 2012, the number of Chinese-funded enterprises in Spain reached a total of 34, with the main businesses being in communications, financial services, steel, fishing, air transport, and maritime transport. As of the end of November 2012, cumulative investment from China in Spain amounted to $410 million, including $24.21 million from January to November 2012. In 2011 and 2012, China’s new investment projects in the Netherlands numbered 30 and 31 respectively, expanding to the sectors of energy, construction, finance, and advanced technologies. The total number of Chinese-funded enterprises in the Netherlands is more than 300, with a cumulative total investment of about $30 billion, hiring 7,000 local employees.

Source: People’s Daily, reprinted on Xinhua, March 15