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China promises investments of billions euro in Romania

China is trying to consolidate its position in Europe and promises investments of billion euro in Ukraine, Romania, Bulgaria and Greece, according to Jonathan Holslag, research department manager at The Chinese Contemporary Study Institute in Brussels, quoted by the Financial Times.

Tens of Chinese firms participated this month in a round table discussion with Romanian officials at Expo Shanghai 2010 and were interested in investing billions of euro in Romanian economy. The Development Bank of China promised 'generous support' for the wind energy in Romania, according to NewsIn.

'An important Chinese constructor' is interested in the project of a new thermo-power plant, a project which may cost up to one billion euro. Other companies promised investments in the mining sector and in Romanian agriculture, Holslag says.

In June the Greek government signed an understanding of billions of dollars, according to which China will build new container terminals in airports and will participate in building ships. Many Chinese companies are interested in creating a special economic area in Sofia, while the Bulgarian government hopes to attract more Chinese capital to compensate the lack of western investments.Countries with developing economies in Eastern Europe become a strategic point for China in Europe especially in sectors such as constructions, distribution, public services, mining and agriculture, Holslag says.

For Europeans who fear China's growing power, there is a reason to worry. The Chinese want to cross the Danube, Holslag shows. Not with tanks or communist propaganda but with cash and charming offensive, the analyst says.China's reasons are purely commercial but the support promised to eastern countries represents a real blessing for the weakened economies in the area. At the same time, if EU does not place things in order it risks to lose its political influence at its own border, the analyst added. The financial crisis increased the importance of Chinese diplomacy and the government used the 2010 Chinese Exhibition to consolidate its expanding relations with European partners.

Sursa: http://www.actmedia.eu

Tags: chinese romania euro billions investments china

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