Prague seeks more investment from Beijing

World Today

The Czech Republic has a lot of industrial potential, but it has lagged behind its neighbors like Poland and Hungary. As relations with China warm, the country is looking for new investment.

CCTV’s Zhang He explains the situation from Prague.

Prague seeks more investment from Beijing

The Czech Republic has a lot of industrial potential, but it has lagged behind its neighbors like Poland and Hungary. As relations with China warm, the country is looking for new investment.

The European Union is an integrated market. Products from the Czech Republic can be distributed tariff-free in European countries. This makes the Czech Republic a bridgehead for manufacturing companies to enter the European market.

Europe is a diverse mixture of approximately 40 countries that are very different from each other. But experts believe, in the center of Europe, there is an economic hub centering on Germany.

As the Czech Republic draws closer to China, it may replace Poland and Hungary in the lead position for the new Chinese bridge to Europe.


Czech Beer Industry: National beverage boosting exports

The Czech Republic has a good reputation for its beer, considered by Czech people a national beverage. Although the domestic consumption of beer is dropping, its value as an export to its neighboring countries is growing. And it is now trying to reach out to countries as far as China.

CCTV’s Xi Jia has this report.

Czech Beer Industry: National beverage boosting exports

The Czech Republic has a good reputation for its beer, considered by Czech people a national beverage. Although the domestic consumption of beer is dropping, its value as an export to its neighboring countries is growing. And it is now trying to reach out to countries as far as China.

Czech people drink more beer per capita than any other nation in the world. Beer production here has traditions dating back through the centuries and it is an inseparable part of the country’s culture and historical heritage.

However, beer consumption has dropped slightly in recent years due to economic downturn and high excise duties. But even with the downturn, producers are not worried, as Czech beer is one of the most popular in the EU market.

The country’s reputation for its excellent beer has driven exports to record levels over the past two years. Its neighbors, Slovakia, German and Poland, imported around 1,000 hectoliters (over 26,000 gallons) of Czech beer in 2015. Although Czechs are drinking less beer, some breweries report a 10 percent increase in production due to interest from abroad.

Although Czechs’ beer consumption has stagnated or even dropped mildly in recent years, they are still the world’s biggest consumers. Czechs drink almost exclusively domestic beer, and moreover, countries like China are increasingly looking to import it, which, for sure, will add even more fizz to the lucrative industry.