Felipe VI: “Spain and China must build a solid economic relationship based on mutual trust, openness, and legal certainty”

Eduardo González The King and Queen of Spain began their first state visit to China this Tuesday in Chengdu, the capital of Sichuan province, where the King presided over the opening of the Spain-China Business Forum in the presence of more than one hundred Spanish and Chinese business representatives. The King and Queen of Spain are undertaking their first state visit to China, which will conclude on November 13 and will culminate the celebration of the twentieth anniversary of the establishment of the Comprehensive Strategic Partnership between the two countries. The King and Queen are accompanied by the Minister of Foreign Affairs, European Union and Cooperation, José Manuel Albares; the Minister of Economy, Trade and Business, Carlos Cuerpo; the Secretary of State for Industry, Jordi García Brustenga; the Secretary of State for Trade, María Amparo López Senovilla; the CEO of ICEX (Spanish Institute for Foreign Trade), Elisa Carbonell; and the President of the CEOE (Spanish Confederation of Employers' Organizations), Antonio Garamendi. and the president of the Spanish Chamber of Commerce, José Luis Bonet. King Felipe and Queen Letizia arrived at Chengdu International Airport on Monday, November 10. In this city, King Felipe VI officially opened the agenda of his state visit on Tuesday with the inauguration of the Spain-China Business Forum, held at the Gran Meliá Chengdu Hotel. There, he delivered remarks emphasizing the need to "make progress in resolving the difficulties that Spanish companies still encounter" "in carrying out their business activities" in China. "If we want to build a solid and lasting economic relationship between Spain and China, we must do so on the basis of mutual trust, openness, and legal certainty, where trade and investment continue to be engines of stability and progress," he added. For his part, Spain's Minister of Economy, Trade and Business, Carlos Cuerpo, declared at the forum, which brought together more than 400 Chinese and Spanish companies, that "Spanish and Chinese companies already act as global partners, generating synergies that open up new business opportunities." "This cooperation not only boosts our bilateral growth, but also reaffirms confidence in multilateralism and demonstrates a commitment to open trade and stability in an increasingly interdependent world," he added. The event was organized by the Ministry of Economy, Trade and Business, through ICEX, in close collaboration with the economic and commercial offices of the Spanish Embassy in China and with the support of the Spanish Confederation of Business Organizations (CEOE) and the Spanish Chamber of Commerce. The Chinese CCPIT also participated. The forum addressed the challenges and opportunities for cooperation between companies from both countries along the value chain of various high value-added sectors and in line with the industrial, technological and consumer transformations that are shaping the global agenda. China, the world's second-largest economy, is a key player in global value chains. China accounts for a third of global industrial production and leads the way in essential technologies for the energy and digital transition, such as electric vehicles, batteries, solar panels, and green hydrogen electrolyzers. The Asian giant is Spain's leading trading partner in Asia and its fourth largest globally. Bilateral trade reached nearly €53 billion in 2024. Spain primarily exports pork, copper, pharmaceuticals, and plastics, while importing consumer electronics, automobiles, and machinery. Investments are significant, with Chinese capital in sectors such as infrastructure, energy, and telecommunications, and Spanish companies investing in China, particularly in the consumer goods sector. More than 400 Spanish companies operate in China, in sectors ranging from automotive to financial services, advanced industrial technology, and cosmetics. On one of his last trips to China (three trips in three years), Prime Minister Pedro Sánchez, in September 2024, advocated for a negotiated solution to the tariff crisis between China and the EU and conveyed to Beijing authorities his “surprise” that the Spanish pork sector had been “involved” in the trade dispute between Brussels and Beijing over the imposition of tariffs on Chinese electric vehicles. On his third visit (whose objective, according to Moncloa Palace, was to “strengthen and balance the economic and trade relationship” in order to “develop balanced trade and investment relations with China, with reciprocal conditions and fair competition”), in April 2025, the two governments signed several trade agreements favorable to key Spanish products such as pork and cosmetics. Indra and Antonio Machado Later, King Felipe traveled to Chengdu International Airport, where he visited Indra's facilities at the Shuangliu Automated Control Tower, the first of its kind in the country, which handles flights below 1,500 meters. He also visited the En Route Air Traffic Control Center and the Southwest ATMB Terminal Area, built by Indra to strengthen one of the country's most congested airspaces, covering flights between 1,500 and 6,000 meters. In China, Indra is a key provider of air traffic management (ATM) technology, with systems deployed in key control centers and covering most of the country's airspace. Present in the country since 1989, Indra aims to participate in the next cycle of ATM investments in China. Separately, on Tuesday, the Queen presided over the commemoration of the 150th anniversary of Antonio Machado's birth at the Poet Xue Tao Memorial, located in Wangjianglou Park, the literary heart of Chengdu. The King met with local authorities, including the provincial Communist Party secretary, Wang Xiaohui, and Governor Shi Xiaolin. Later, Felipe and Letizia attended a luncheon hosted in their honor by the Governor of Sichuan Province, thus concluding their agenda in Chengdu. After lunch, the King and Queen traveled to Beijing, where they were received by Chinese President Xi Jinping and his wife, Peng Liyuan. In the capital, the King and Queen will attend an official welcoming ceremony hosted by President Xi and his wife on Wednesday, November 12. The King will also meet with Premier Li Qiang and Zhao Leji, Chairman of the Standing Committee of the National People's Congress.

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