China intends to strengthen economic ties with Portugal

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The president of the PRC, Xi Jinping, at a press conference on the results of his visit to Portugal, expressed his desire to further develop economic ties with Portugal, Bloomberg reports. Noting that Portugal is an important European country, the Chinese leader said it was necessary to expand and improve existing projects of the two countries, as well as to further strengthen trade. In the framework of the international program of financial assistance to Portugal in 2011-2014, China has made major investments in the country. China Three Gorge, China's state-owned energy corporation, which owns a 25 percent stake in Portuguese energy company REN, announced its intention to increase its stake in the Portuguese EDP for 9 billion 100 million euros. This deal, if approved, could be China’s largest acquisition abroad.

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