Envoy says Chinese investment in Portugal amounts to €12 bln

Chinese Ambassador to Portugal Cai Run has said the cumulative value of investment in Portugal by Chinese companies and individuals is €12 billion (about US$13.72 billion), the Macao Daily News reports.

The newspaper quotes Mr Cai as saying so in a meeting he had with Macao young entrepreneurs.

Mr Cai said Chinese companies had invested €9 billion in Portugal.

He called for greater Sino-Portuguese co-operation to develop markets, particularly co-operation in exploiting the sea, which had great potential.

Macao should take opportunities offered by the Chinese Belt and Road initiative and the Guangdong-Hong Kong-Macao Greater Bay Area to fulfil its intermediary function and allow Portuguese companies to help China reach its national goals, the Macao Daily News quotes the ambassador as saying.