A protocol of cooperation between Braga and the Portuguese-Chinese Chamber of Commerce and Industry (CCILC) will be signed Tuesday at the Braga-China Economic Forum.
With the aim of promoting actions that stimulate the economic fabric of the city and affirming Braga as an attractive destination for investment and business reception, the agreement will take place on Tuesday at the conclusion of the Braga-China Economic Forum.
The Braga-China Economic Forum will be held at the GNRation building where the Ambassador of the People’s Republic of China in Portugal, Cai Run, along with Braga Mayor, Ricardo Rio, will be debating issues surrounding the internationalization of the municipality, support for companies intending to approach the Chinese market, and how to attract investments.
The initiative was organized by the Braga City Council and InvestBraga, in cooperation with the CCILC.
In March it was announced that the International Iberian Nanotechnology Laboratory (INL) in Braga would have a new technology center in China.
According to Macau Business, “The INL technology centre will start operating by the end of the year at the Science and Technology Park in Hong Kong, where the institution has signed a collaboration agreement with ASTRI – Centre for Applied Technological Research.”
And, the new center, “dedicated to the application of nanotechnology in the construction of sensors for smart cities, will allow the laboratory’s customers “better access to the Chinese market.”
According to a 2015 report in the Financial Times, “Portugal accounts for just 1.3 per cent of the EU economy yet has in recent years received more Chinese investment than any member state except the UK, Germany and France.”
China took the opportunity to invest heavily in Portugal after the financial crisis hit Europe in 2011.
According to Reuters, Portugal is the number one destination for Chinese investment.
“China Three Gorges owns 21 percent of Energias de Portugal while private conglomerate Fosun (0656.HK) upped its stake in bank Millennium bcp (BCP.LS) to 24 percent in February .”
Below is a breakdown of the Portuguese and Chinese communities in their respective foreign countries, according to the CCILC.
The Portuguese Community in China
- In 2010, the total number of consular registrations was around 130,000, distributed as follows: Macau, 129,000; Beijing and Shanghai split the remaining 1,000.
- A large part of the Portuguese community in the areas of Beijing and Shanghai is young, with a college education, performing its activities as engineers, small and medium-sized businessmen, mainly in the catering sector, technical staff, recent graduates, professional students and students.
- In most cases, Portuguese residents in China are in this country for a limited time, for periods of 3/4 years, in service commissions, academic courses, etc.
- As far as Macao is concerned, the community, which accounts for approximately ¼ of Macao’s total population, is composed of three distinct groups, whose origins are Euro-Asian (Macanese), European (from Portuguese and former colonies) and Chinese.
- The overall results of the 2006 censuses indicate that 8,893 Portuguese citizens resided in Macao, of which 1,316 were born in Portugal. For Hong Kong, the Census and Statistics Department – The Government of Hong Kong Administrative Region reveals that in the same year 569 citizens of Portuguese nationality lived in the city.
The Chinese Community in Portugal
- The Chinese community residing in Portugal is composed of about 15,000 individuals, equally distributed by both sexes, distributed mainly in the districts of Lisbon, Porto, Faro and Setúbal. It is the 9th largest immigrant community to reside in our country.
- In 2009, the Chinese community was the 6th largest migratory flow to Portugal, with 1,947 grants of residence permits, after Brazil (23,138), Romania (8,111), Cape Verde (4,575), Ukraine (2,362) and the Kingdom United Kingdom (2,154).
- Citizens of Chinese holders of a common, diplomatic and service passport are required to present a visa to cross the external borders of the Member States of the European Union, even for short stays, since their country is included in the list in Annex I to Regulation (EC) 539/2001.