China has recently bought chunks of Spanish and Greek debt, and its companies are investing across broad sectors of the European economy, including in ports, chemical firms and car makers. Two weeks ago, when Spanish Prime Minister jrv Luis Rodríguez Zapatero traveled to China, Premier Wen Jiabao pledged his support for Spanish public finances and its banking sector.
Some Chinese deals in Europe:
PORTS: In 2009, shipping giant Cosco pledged to invest in the Greek port of Piraeus.
CARS: Auto maker Geely bought Swedish brand Volvo from Ford last year.
BANKS: China’s sovereign wealth fund says it may inject $13 billion into Spanish banks.
RESORTS: Fosun Group last year bought a 7.1% stake in France’s Club Med
The EU is China’s biggest trading partner, and the two make up the world’s richest bilateral trade relationship, with commerce totaling $522 billion last year, over a third of which was EU exports to China. By comparison, U.S.-China trade was $456.8 billion in 2010.
Complete source: Envoy Says China Wants ‘Stability’ in EU Markets – WSJ.com.