China plans massive investment in Central and Eastern Europe Chinese Premier Li Keqiang arrived in Belgrade late Monday for a four-day visit to meet leaders from 16 Central and Eastern European (CEE) countries, eyeing more cooperation with the region. Trade between China and CEE countries surpassed $60 billion in 2014, and both sides are keen to attract more. A 2-billion-euro ($2.49 billion) railway project is expected to be ratified at the meeting. The fast rail track will link Belgrade and Hungary’s capital, Budapest and will be China’s first rail-line in Europe. China will also invest more than $10 billion in energy and infrastructure projects in CCE countries. During his stay in Belgrade, Li will hold talks with Serbian president and prime minister. A series of agreement ranging from finance to aviation investment and cultural industries will be inked. Serbia is Chinas first strategic partner in the CEE region. Since 2010, China has invested $1.75 billion into projects in Serbia, including construction of a coal-fired power plant, a bridge over the Danube in Belgrade, and a stretch of motorway. Trade volume between the two countries reached $612 million in 2013, a 19.6 percent surge year on year.
Posted on: Tue, 16 Dec 2014 06:40:00 +0000
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