Central, Eastern Europe provide opportunities for Chinese investments

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Recovering economies in Central and Eastern Europe are providing new opportunities for Chinese enterprises, said a Chinese expert on international affairs in a recent interview.

The Central and Eastern European countries have a tradition of friendly relations with China, which serves as the good base of their communication and cooperation, said Professor Jin Xin.

China attaches great importance to the relations with countries in these areas, said Jin, the Deputy Director-General of China Center for Contemporary World Studies at a three-day economic forum here.

Since last year's Warsaw summit gathering leaders from China and 16 countries in Central and Eastern Europe, China has established the Secretariat of China and Central, Eastern Europe Cooperation, whose role is to implement the summit achievements.

The Chinese government has taken substantial measures to boost corporate investment in Central and Eastern Europe, regarding the area as a key destination for Chinese companies to go abroad.

The European debt crisis has changed the investment environment in the area, where chances could be abundant for those yet to get established, said Jin, adding that the crisis has resulted in drops in European capitals.

Meanwhile, lives are returning little by little to economies in these areas, and many countries show interests in attracting Chinese investments, in particular in fields such as infrastructure, energy and high-tech.

Investing in these parts of Europe also provides great opportunity for Chinese business to upgrade their products and extend their chain of value, said Jin.

However, he also mentioned some challenges for the Chinese firms, as they would find higher thresholds in technology and protection of intellectual property rights and environment.

They will also encounter competition with long established European counterparts, said Jin.

All in all, he said that their cooperation would be mutual-complementary and eventually brings tangible benefits to the two parties.

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