LONDON May 22 China faces "invisible
impediments" to investing in some parts of Europe, with
Europeans nervous about allowing it to move into sectors such as
nuclear power, a senior official at China's sovereign wealth
fund said on Tuesday.
"European companies should treat Chinese companies fairly
and equitably - we still feel some invisible impediments to our
investments in some of the countries in Europe," Jin Liqun,
chairman of the board of supervisors of China Investment Corp
(CIC), which manages assets totalling more than $400
billion, told a seminar.
European countries were reluctant to allow investments in
sectors such as nuclear power because of concerns about national
security, Jin added.
"China will be developing nuclear power stations, cutting
carbon emissions, European countries have technology, why
shouldn't we work together?"
Jin said China did not feel these barriers to investing in
CIC bought a minority stake in Britain's Thames Water
earlier this year.
CIC has said it is wary about investing in European
government bonds but sees investment opportunities in areas such
Jin said he saw opportunities for investment in Africa and
in eastern Europe.
"We are looking at projects in some other African countries
(besides South Africa)," he said, in answer to a question.
"Emerging Europe would in my view need capital and
technology from our side."
China will set up a special investment fund for eastern and
southern European states totalling $500 million, Premier Wen
Jiabao said in Warsaw last month.
The euro zone should combine necessary spending cuts with
stimulus packages to get out of its difficulties, Jin also said
in the speech.
"Spending cuts should be coupled with spending to jumpstart
China will fast-track approvals for infrastructure
investment to combat a slowdown in the economy, a state-backed
newspaper reported on Tuesday.