UPDATE 1-China, Denmark to boost green tech trade
* Chinese president arrives in Denmark for state visit
* Talks seen focusing on bilateral economic ties
* Govts to agree to boost trade in green tech sector
* Companies lining up to sign deals on Friday (Updates with arrival, combines separates, adds quotes)
By John Acher
COPENHAGEN, June 14 (Reuters) - Chinese President Hu Jintao arrived in Denmark on Thursday for a three-day state visit, which is expected to focus on bilateral economic relations, including expanding trade in green technology.
During the visit, Denmark and China will sign an agreement to boost commercial ties in energy efficiency, environmental protection and sustainable urban development, Danish officials said.
Hu's visit is the first official state visit to Denmark by a Chinese leader since the countries established ties 62 years ago. He is accompanied by a large delegation of Chinese officials and business leaders.
The green technology agreement will be signed on Saturday by Denmark's minister for trade and investment, Pia Olsen Dyhr, and her Chinese counterpart, Commerce Minister Chen Deming, the Danish foreign ministry said in a statement.
It will establish a working group with participants from government and industry to promote trade and reduce market barriers in the green technology area, the ministry said.
"China is expected to be the world's biggest market in 2014 for sustainable energy and already today is the biggest for wind power," the foreign ministry said in a statement.
The Chinese government has planned to invest the equivalent of 2.50 trillion Danish crowns ($423.75 billion) in sustainable energy up to 2020, with half of that going to wind power developments, the ministry said.
Denmark is a world leader in wind energy, meeting roughly a quarter of its electricity need with wind and is the home of the world's biggest wind turbine manufacturer, Vestas.
Vestas announced on Wednesday it would sell a wind turbine tower factory in Denmark to Chinese group Titan Wind Energy which would enable it to cut costs but preserve jobs at a unit that had been slated for closure.
A business conference on Friday morning will be the stage for the signing of several deals by Danish and Chinese partners.
Olsen Dyhr told Reuters in an interview on Tuesday she expected deals worth more than 10 billion Danish crowns ($1.69 billion) to be signed during Hu's stay in Copenhagen.
Danish brewer Carlsberg said this week it would spend 4 billion Danish crowns to build a giant brewery in China, and Danish shipping and oil group A.P. Moller-Maersk said its ports arm, APM Terminals, would invest more than 3 billion in a new port facility in China.
Danish private equity investment firm Axcel said on Thursday it would form a strategic partnership with Chinese investment company Fosun International to identify business opportunities in China and Europe.
"We are active in the Nordic area, and we can see that Fosun could be an interesting co-investor in businesses that want exposure to Asia," Axcel Managing Partner Christian Frigast told Reuters.
He said Fosun could help companies in which Axcel has invested to build their businesses in China. As an example, Frigast mentioned Mita-Teknik, a Danish firm which supplies control systems to the wind turbine industry and currently gets about half its turnover in China.
The field of sustainable urban development is another growth area for China where 300 million to 350 million people, a population equivalent to that of the United States, are forecast to move to cities in the next 20 years, the ministry said. ($1 = 5.8998 Danish crowns) (Reporting by John Acher)
- Malaysia Airlines plane missing, presumed crashed in South China Sea |
- UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- China draws red line' on North Korea, says won't allow war on peninsula
- No signal picked up from missing Malaysia Airlines plane-Vietnam official
- Malaysian plane crashed off Vietnam coast: state media