Chinese investment boosts Portugal’s financial recovery

Global Business

Portugal has endured a tough few years following the financial crisis, but the country has been enjoying a recovery in recent years.

One of the reasons is Chinese investment. Only three other EU countries received more China investment than Portugal last year, and economists believe those partnerships will strengthen in the years to come.

CCTV’s Dan Williams reports.

Chinese investment boosts Portugal's financial recovery

Portugal has endured a tough few years following the financial crisis, but the country has been enjoying a recovery in recent years. One of the reasons is Chinese investment. Only three other EU countries received more China investment than Portugal last year, and economists believe those partnerships will strengthen in the years to come. CCTV's Dan Williams reports.

Last year, Portugal enjoyed growth of 1.5 percent, a figure that be topped this year. Chinese investment accounted for 45 percent of the 9.2 billion Portugal raised from state sell-offs over the last three years.

Last year, Portugal received more China investment than any EU member state other than the U.K., Germany, and France.

Although the country accounts for just 1.3 per cent of the EU economy, Sergio Martins Alves of the Portugal Chinese Chamber of Commerce believes Portugal has many attractive elements. A more diverse bilateral trade portfolio has also developed and that is expected to grow further in the coming years.

Given the recent investments, the outlook for China-Portugal trade looks set to continue, with the possibility of direct flights between the two countries now on the cards.


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