Spanish economy minister: Chinese economy vital for world

MADRID, March 16 (Xinhua) -- Spanish Minister for Economy and Competition Luis de Guindos says that the Chinese economy is vital for both the present and the future of the world economy.

The minister made the remarks in a recent interview with Xinhua ahead of his visit to China on March 20 to help forge closer economic and financial relations between the two countries.

"China is an element of stability for the world economy ... the vitality and dynamism of the Chinese economy has been a fundamental contribution to the world economy and it is playing a very important role," commented De Guindos.

He assured that China will become the most important market in the world in the next 10 years and looked at the chance of commercial, financial and investment cooperation.

"Given the importance of the Chinese economy, Spanish companies have reached agreements with Chinese companies in the investment sector. There could also be relations in which Chinese companies invest in Spain," he added.

"Spain is an important market within the European Union ... and I think that it has another attraction in that Spain can become a base to serve to allow Chinese companies as a jumping off point towards Latin America, and as such I think there is a mutual interest in maintaining economic, financial and investment relations," continued De Guindos.