China-Spain ties at a glance(2)

Minister of Commerce Zhong Shan and Spanish Minister of Industry, Trade and Tourism Reyes Maroto co-chair the 28th meeting of China-Spain Joint Committee of Economy and Trade on Oct 25, 2018. (Photo/MOFCOM)

Economic and trade cooperation?

Bilateral trade volume has grown from $12 million at the beginning of establishment of diplomatic ties to over $30.9 billion in 2017.

China is now Spain's largest trading partner outside the EU, while Spain is the sixth-biggest trading partner of China within the EU.?

A freight train leaves for China's Yiwu city in Madrid, Spain, on May 18, 2015. (Photo/Xinhua)

The freight train between China's small commodity hub, Yiwu, and Spain's capital, Madrid, which was put into service in November 2014, has become an important bridge of interconnectivity across the Eurasian landmass, and also an early achievement of the BRI construction.

Investments from Chinese companies have rapidly increased in Spain in recent years, with a stock of more than $2.3 billion, covering sectors including energy, agriculture, finance, logistics, telecommunications and infrastructure.

By the end of Aug 2018, Spain had invested 2,461 projects in China, with an actual investment of $3.79 billion.

There are more than 700 Spanish companies in China, covering industries such as finance, energy, telecommunications, and transportation.