The Asian country’s economic growth continues to break expansion records.
1. Booming economy
This is evidenced by information published by the National Bureau of Statistics (NSO), which reflects that China’s Gross Domestic Product (GDP) has increased from 6.7% in the second quarter of 2016, to 6.9% in the same period of 2017, thus exceeding analysts’ forecasts, which placed it at 6.8%.
2. Promotes overall economic growth
As we have explained in previous articles, starting a purchase process in China is cheap, adapted and simple, thanks to companies like MingTa, but in this post we will go one step further. As Bill Adams, senior international economist at PNC Bank, said: “As China moves forward, so do emerging markets. Its expansion supports the recovery of commodity exporters and allows the 2017 global economic growth rebound to continue to stay on track.”
3. Professionalism of Chinese entrepreneurs
Many Chinese entrepreneurs have been able to take advantage of the opportunities of this economic growth, beginning to filter into the ranking of world fortunes prepared by Bloomerg Billionaires Index. This list, which enumerates the 500 richest people in the world, reflects a considerable increase in names of Chinese origin, which are already part of the world’s largest fortunes. In 14th place, for example, we find Jack Ma, founder and CEO of Alibaba Group, with a net worth of $43.4. Alibaba, the world’s largest ecommerce giant, transacted 3 trillion yuan, or $463 billion, according to Forbes magazine.
4. Investments in Spain
Although Jack Ma is the richest Chinese entrepreneur, he is not the only one, as among the top 30 we also find names such as Wang Jianlin or Pony Ma, in 24th and 27th place respectively. Probably the name we are most familiar with, even more than Jack Ma, is that of Wang Jianlin, director of Dalian Wanda Group and main shareholder of Atlético de Madrid. The company Wanda has become popular in our country for the purchase from Santander of the Edificio España for 265 million in 2014 and for being present in various sectors such as hotels, finance and sports.
Spain is increasingly attractive for Chinese entrepreneurs, who in 2016 invested 1,708 million euros in our country. This figure focused mainly on the purchase of infrastructures, such as Urbaser, ACS’s environmental services subsidiary, by Firion Investment, an investment fund owned by China Tianying. This type of transaction moved Spain up from ninth to seventh position in the list of countries receiving Chinese money in Europe, in a list headed by Germany and the United Kingdom.
5. Major future projects
But there is still a long way to go, as the Asian country has already shown interest in other of our sectors, such as real estate or aeronautics. According to the law firm Baker McKenzie, there is a transaction about to be completed: the purchase of Aritex technology firm, owned by Spain’s Comsa, by China Aviation Industry Corp. Aviation Industry Corporation of China (AVIC). (Aviation Industry Corporation of China or AVIC).
