China-Spain: A strategy to encourage Chinese companies to establish European and Latin American headquarters in Spain: Madrid, Bilbao and Barcelona

Chinese companies have completed various different transactions with Spanish companies in 2010. There is now an opportunity to encourage some of these Chinese companies to set up their European headquarters in Spain. Spain could position itself as a corporate hub for Chinese companies seeking to expand in Europe as well as in Latin America. Specific actions and results could be achieved in the short term with three companies (Sinopec, BYD and Chery), as well as with the sovereign wealth fund China Investment Corporation (CIC). All of these organisations are weighing their options for setting up regional headquarters in Europe. China Unicom and CITIC also present short-term possibilities, as they have privileged relationships with Telefónica and BBVA. Both companies are considering moving their European headquarters from London to Madrid. In the medium term, Spain could seek further results with the oil companies CNPC and CNOOC, with the automaker Geely, and in particular with the high-tech companies Huawei and ZTE. In these efforts, the following Spanish companies could play a key role: Repsol with Sinopec; Bergé with BYD and Chery; BBVA with CIC and CITIC Securities; and Telefónica with Huawei, ZTE and China Unicom.