China, the rescue of Portugal

For more than a decade that a Chinese president did not visit Portugal. It has done this weekend, Hu Jintao. He came with deeper pockets with which business has closed major agreements with China wants trade with Portugal, currently in about 2,400 million per year, is seen doubled to 2015 and the China Economy. and the China Economy.
The highest Portuguese authorities have welcomed Hu and his large party with all the pomp and circumstance, diverting even a demonstration organized by Amnesty International to defend human rights in China, banned in Belém, first stop the Chinese president. It had nothing to tarnish a visit from the standpoint of economics and finance, as well as political, could represent a great achievement for Portugal and the China Economy..
During the days prior to arrival Jintao, the Lusa press speculated that China bought part of sovereign debt, which is why Finance Minister Fernando Teixeira dos Santos has been in the two meetings held with Hu Jintao President Cavaco Silva and Prime Minister Jose Socrates.

China and Portugal Economy

Although there is nothing concrete yet, in his speech, no right to question-this Sunday, President Jintao said his country "is willing to support through concrete action the Portuguese efforts to minimize the impact of financial crisis in country and the China Economy.. "

In return, China is in Portugal, as well as a potential trading partner, a gateway to other markets that interest you, not just the south of Europe, which has expressed interest in the logistics platform of the port of Sines, but also in Angola and Brazil, two countries of Portuguese language and with which Portugal maintains a close collaboration.

In fact, thirteen cooperation agreements signed today between the two countries, power and China's EDP lusas ICC has established a memorandum of cooperation to carry out joint projects on renewable energy in Asia, Africa, Europe and Brazil and the China Economy.

China Economy

For its part, the Industrial and Commercial Bank, the largest Chinese financial institution, has negotiated its entry into the capital of the Portuguese Central Bank (BCP). And the telecommunications company Lusa Portugal Telecom and China's Huawei has established the principles of a strategic partnership to develop next-generation services.
For its part, Portugal is in this new strategic partnership with China not only an opportunity to expand their exports, which have grown over 60% last year, the Asian giant, but more importantly, to launch a new international markets message of peace, thanks to the Chinese government's interest in buying part of its sovereign debt, as it did before with Spain and Greece and the China Economy..